Title:
Consider and take action on Ordinance 2026-28 adopting the Annual Budget for Governmental and Proprietary Funds for Fiscal Year 2027 - Second Reading (Assistant City Manager - CFO)
Council approved first reading 8-0-0 on August 25, 2026.
Taxpayer Impact Statement Required per H.B. 1522 effective September 1, 2025 based on Tax Year2025 (FY2026) and Tax Year 2026 (FY2027)
2025 Adopted Tax Rate $ 0.36355 with an estimated median homestead taxable value of $362,634 equals tax of $1,318.36
2026 No-New-Revenue Tax Rate $0.356505 with an estimated median homestead taxable value of $375,000 equals tax of $1,336.89
2026 Proposed Tax Rate $ 0.356505 with an estimated median homestead taxable value of $375,000 equals tax of $1,336.89
The change in total tax rate is a decrease of 0.007045 per $100, or -1.94%
The change in estimated median homestead taxable value is an increase of 3.41%
The change in tax on estimated median homestead property is an increase of $18.54 or 1.41%
Background:
Pursuant to City Charter and state law, adoption of this ordinance will establish the budget for the 2027 fiscal year. The budget ordinance is based on the proposed budget, as adjusted, and as described in Exhibit A, B and C.
Changes to the Proposed Operating Budget
The FY2027 Proposed Budget provided to City Council on July 14, 2026, included $208,727,905 for operations. City Council held a series of work sessions on July 27th, August 11th, and 25th. Reflected changes were made during the series of workshops in July and August.
City Council held a public hearing and the first reading of the budget ordinance on August 25, 2026 with an operating budget of $208,699,905, a capital budget of $124,225,824 for a total of $332,925,729.
Changes Discussed at July and August Workshops
Exhibit A to the ordinance outlines the operation budget which includes:
Hotel/Motel Tax Fund - decrease of $28,000
ยท Remove duplicate kiosk line item ($28,000)
The second reading of the ...
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