Agenda - Council - 09/23/2025 - Laserfiche WebLink

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CC Regular Session Meeting Date: Primary Strategic Plan Initiative: 09/23/2025 Identify and implement operational efficiencies, cost savings and additional funding sources. 7. 1. Title: Adopt Resolution 25-221 Adopting Proposed 2026 Payable Tax Levies (General, Pavement Management, EDA and Debt Service) & Schedule Public Hearing for December 9, 2025; Adopt Resolution #25-222 Adopting Proposed 2026 General Fund Budget and Resolution #25-223 Adopting Proposed 2026 EDA Budget. Purpose/Background: Purpose: Each taxing authority must certify its proposed preliminary property tax levies for payable 2026 to the County Auditor by September 30, 2025. A budget/levy slide presentation will be provided that will outline the city's proposed 2026 levies and General Fund Budget. The city held several worksessions on the proposed 2026 preliminary budget and related levies, with the last worksession, prior to preliminary adoption, being held on September 9, 2025. Proposed 2026 Payable Tax Levy: Proposed Tax Levies: General Fund Levy: $ 18,286,749 Pavement Management Fund Levy (Included in General Levy) $ 2,033,819 EDA Levy (Included in General Levy) $ 86,367 Debt Service Levy: CIP Bond (Municipal Center) (Being Requested) $ 1,142,000 Debt Service Levy - CIP Bond ( Fire Station #2) (Being Requested) $ 234,393 Debt Service Levy - 2023 Equipment Certificates (Being Requested) $ 148,200 112022 Reconstruction Debt - $12M of additional Road Projects (being Requested) II $ 1,042,263 Debt Service Levy - CIP Bond (Public Works Campus) (Being Requested) IS 87,276 2016 Reconstruction Debt - Andrie & Overlays (Being Requested) IS 114,253 2017 Reconstruction Debt - Sunwood Drive & Alpine 1 $ 90,416 2018 Reconstruction Debt - River's Bend & Stanhope Terrace 1 $ 111,180 Total Proposed Levy - 2026 II $ 23,376,916 Based upon the proposed levy, the City's estimated tax rate is projected to slightly decrease in 2026 from 46.214% (2025) to 46.158% subject to final property and tax calculations by the County. The attached resolution, as it is presented, reflects a levy of $23,376,916. The proposed levy for 2026 reflects a $1,426,222 (6.50% increase) over the adopted levy in 2025 of $21,950,694. The levy increase of $1,426,222 has the following contributing factors: