Finance director outlines 2025 revenue forecast built on $1.15 tax rate; enforcement fines figure into estimates

Finance Director Carl Daughtry presented the city's preliminary revenue projections for fiscal 2025, saying the budget was built on a real-estate tax rate of $1.15 per $100 of assessed value (a one-cent reduction from the prior rate). He projected $440.5 million in recurring revenues, an increase of $22.4 million from 2024, and described the growth drivers: higher real-estate assessments (an assessor estimate of about 5.2% growth), consumer-driven taxes (meal, sales and lodging), state urban maintenance funds, fines from photo-enforcement programs and investment earnings.

Daughtry said the general property tax estimate for 2025 was roughly $242.6 million and called out that $10.7 million of the increased recurring revenue would be available for general appropriation while $11.7 million of new recurring revenue was committed to specific purposes. He told council staff had included $3.4 million in projected revenues for school-zone photo enforcement and offsetting appropriations so the budget reflects a full program option while the staff will implement a smaller pilot initially.

Council members asked clarifying questions about the special district tax request from the Elizabeth Lake Civic Association and the components of consumer-driven revenue; Daughtry confirmed the special district's primary asset is a community pool and that the communication sales tax is expected to decline due to reductions in landlines and cable subscriptions. He also noted state budget actions remain pending and could affect some estimates.