Council proposes 0.528541 tax rate and schedules Sept. 15 public hearing

Council moved and approved a motion on Aug. 11 to propose a 0.528541 per $100 valuation tax rate (the voter-approved rate) and to set a public hearing on Sept. 15, 2026, to receive public comment on the proposed FY2026-27 budget and tax rate. Staff briefed council on how the rate is computed and the underlying certified tax roll figures.

Staff said the city's adjusted certified tax roll at time of presentation was approximately $3.4 billion and presented the 'no-new-revenue' rate calculation at 0.508557. The voter-approved rate, which accounts for voter-approval election caps and debt-service calculations, was presented at 0.528541 per $100 valuation. A council member moved the proposal and the motion was seconded; the motion carried 8-0.

Why it matters: proposing the voter-approved rate triggers state hearing and notice requirements because the proposed number exceeds the no-new-revenue rate. The Sept. 15 hearing gives residents an opportunity to comment before council considers adoption at a subsequent meeting.