Fair Oaks Ranch sets 2025 maximum tax rate at $0.2853, schedules budget hearing for Sept. 15

Fair Oaks Ranch City Council on Aug. 7 adopted a resolution establishing the maximum tax rate the council will consider for fiscal year 2025–26 and scheduled the public hearing and first reading dates for the budget process.

Summer Fleming, director of finance, told the council that certified taxable value for 2025 is $2,800,000,000, up 5.3% from 2024, and that the calculated no-new-revenue rate is 0.27524 per $100 valuation. The city’s current tax rate is 0.2853 and the proposed budget included a 0.2794 rate. Staff recommended setting the current tax rate — 0.2853 — as the maximum rate the council may consider.

“Staff recommends approval of this resolution, which accepts the calculated no new revenue and voter approval tax rates for 2025 and authorizes the current tax rate of 0.2853 as the maximum tax rate to be considered for fiscal year 2025–26,” Fleming said. She said the adjusted voter-approval rate is 0.32619 and that the adopted fee at plat recordation and other worksheet documentation are posted on the finance department’s truth-in-taxation webpage.

Fleming reported that setting the maximum rate gives council flexibility during budget workshops; if no budget changes are made, the actual adopted rate would be the 0.2794 included in the proposed budget. Based on the numbers Fleming presented, the average tax bill would increase by $87 at the maximum rate and by $44 under the rate included in the proposed budget.

Council approved the resolution and set the public hearing on the proposed budget and tax rate for Monday, Sept. 15, 2025. The resolution also accepts the calculated no-new-revenue and voter-approval rates for the year.