STRATEGIC PRIORITY: Fiscally Sound
AGENDA DATE: August 27, 2025
COUNCIL DISTRICT(S): N/A
DEPARTMENT: Budget and Management Services
EXECUTIVE: Jack Ireland
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SUBJECT
Title
Authorize (1) a public hearing to be held on Wednesday, September 17, 2025 to receive comments on a proposed tax rate; and (2) a proposal to consider adoption of a $0.6997 per $100 valuation tax rate, or a lower rate as may be proposed by the City Council for the 2025-26 fiscal year on Wednesday, September 17, 2025 - Financing: No cost consideration to the City
Body
BACKGROUND
The City Manager's recommended FY 2025-26 budget as discussed on August 12, 2025 includes a tax rate of $0.6997/$100. The proposed rate reflects a reduction of $0.50/$100 and reduces revenue to the City by $11.1 million.
Notice of Tax Rates
Proposed tax rate: $0.6997/$100
No-New-Revenue tax rate: $0.673196/$100
Voter-Approval tax rate: $0.703274/$100
To set a tax rate above the FY 2025-26 calculated No-New-Revenue tax rate of $0.673196 per $100 valuation, State law requires the following:
* Specify a proposed tax rate; take a record vote, and schedule a public hearing (August 27, 2025);
* Publish "Notice of 2025 Tax Year Proposed Tax Rate" at least seven days before the public hearing (September 10, 2025);
* Publish the notice in the newspaper and prominently on the City's internet website;
* Hold a public hearing; and the meeting to adopt the tax rate (September 17, 2025).
To enhance transparency, the City will publish a notice of the proposed tax rate in the newspaper and conduct a public hearing on September 17, 2025 and adopt the proposed tax rate on the same day, September 17, 2025.
PRIOR ACTION/REVIEW (COUNCIL, BOARDS, COMMISSIONS)
The City Council was briefed on the "City Manager's Proposed Budget" on August 12, 2025.
The City Council was briefed by memorandum regarding this matter on August 22, 2025.
FISCAL INFORMATION
No cost con...
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