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Council weighing 3% property-tax hike and use of foregone authority
Summary
Treasurer Lori presented scenarios showing impacts of a 3% allowable increase and use of foregone authority; Council discussed last year’s combined actions and whether to prioritize reserves or capital projects.
Treasurer Lori told Council she prepared scenarios showing outcomes if the city takes 0–3% property-tax increases and whether to apply foregone authority. "We will present current revenue estimates and begin discussion on budget priorities, including whether to increase the property tax budget by the allowable 3% and whether to utilize foregone property tax authority for the upcoming fiscal year," Lori said, framing the choices councilors must make.
Lori reminded members that last year Council combined a 3% increase with some foregone authority and "we ended up with the 8% total that we can take. We got 5.61% last year." Members emphasized the need to balance raising the fund balance and meeting obligations (notably a sizable police contract) against imposing higher taxes. Staff will return with department-level expenditure requests so Council can compare trade-offs before deciding on a tax rate.
