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Council adopts corrected tax-levy ordinance; updated rate allocations and revenue projections recorded
Summary
Council adopted a corrected ordinance updating the final tax-levy rate for fiscal year 2026–27, including allocations that the motion described would produce approximately $123.8 million for the general fund and $32.7 million for the library fund in ongoing revenue.
A council member moved to adopt a corrected ordinance updating the final tax rate for the 2026–27 fiscal year. In the motion's recitation of allocations, the presenter identified a composite rate of 0.003482 per dollar of taxable valuation with line-item allocations: 0.002374 credited to the general fund (motion text projected $123,837,279 of ongoing revenue), 0.000626 credited to the library fund (projected $32,657,748), 0.000395 toward general‑obligation bond repayment (projected $20,614,755), and a small allocation to a tort‑liability fund generating about $4,173,514 in ongoing revenue.
The motion was seconded and, after no discussion, the chair called the question; the ordinance was adopted and the chair recorded the motion as passed with two council members absent. The numeric allocations were read into the record as technical adjustments to align rates entered into tax-rate systems before the June 22 deadline.
