At the April 23 meeting, the City Council approved the FY2019 Budget and CIP. Starting July 1, the real estate tax rate will increase to $1.355 per $100 of assessed value; the average homeowner will see an increase of about $431. All other tax rates remain the same, including personal property tax, local sales and use tax, and consumer’s utility taxes. This approved budget fully funds the public schools’ request and FY2019 capital needs.
The City Council approves a budget each year to fully serve its 13,000 residents and nationally recognized school system. The City's fiscal year begins July 1 and ends June 30; for example, FY2018 begins on July 1, 2017 and ends June 30, 2018.
The City Manager typically presents the proposed budget in mid-March. After a number of public hearings, town hall meetings, and work sessions, the City Council typically adopts the budget in late April. A calendar of meeting dates, public hearings, and town halls is available here.
Capital Improvements Program
The five-year Capital Improvements Program (CIP) identifies capital needs of the community and indicates how these needs will be funded over the five-year period. In general, only projects that cost more than $150,000 and have a useful life in excess of 10 years qualify for funding in the CIP. The CIP is updated annually and is subject to change with each update.