Approve an ordinance amending Ordinance No. 20250813-001 adopting and levying a property (ad valorem) tax rate for Fiscal Year 2025-2026 to reduce the tax rate to the voter-approval tax rate.

The City Council is set to approve an ordinance amending the previously adopted property tax rate for Fiscal Year 2025-2026. This amendment is necessary because the tax rate approved on August 13, 2025, which was above the voter-approval rate, did not receive majority support in the November 4, 2025 election. Consequently, state law mandates a reduction of the tax rate to the voter-approval rate. The new rate will be $0.524017 per $100 of taxable value, a reduction from the initially adopted rate. This rate includes components for maintenance and operations and debt service. The effective tax rate will be raised by 3.5%, resulting in an approximate increase of $13.87 on a $100,000 home for maintenance and operations.

Residents will see their property tax rate reduced to the voter-approval rate, with an approximate $13.87 increase on a $100,000 home for maintenance and operations, due to the outcome of the November election.

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