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FY 2026/27 Secondary Property Tax Levy May 21, 2026 Mark Hute, Treasurer 1 Past Bond Elections 2 Purpose Bond Elections 2008 2012 2013 2018 2020 2022 2024 Streets Public Safety Parks – Culture – Library • Secondary property taxes levied to pay for GO bonds authorized since 2008 election • Voter authorizations still available from bond elections held in 2020, 2022, & 2024 Total Property Values 3 $0 $20 $40 $60 $80 $100 $120 17/18 18/19 19/20 20/21 21/22 22/23 23/24 24/25 25/26 26/27 Billions Fiscal Year Limited Property Value* Full Cash Value *Used to calculate taxable value Highlights of Proposed Tax Rate and Levy 4 • Secondary property tax rate to decrease by 1% • Annual cost to median homeowner is $166 Proposed Tax Rate and Levy 5 FY25/26 FY26/27 Proposed $ Change % Change Taxable Property Value $5.2 billion $5.5 billion + $0.3 billion + 5.6% Tax Rate (per $100 of taxable property value) $0.8582 $0.8500 - $0.0082 - 1.0% Tax Levy (rounded) $44.3 million $46.4 million + $2.1 million + 4.6% Annual Cost to Median Homeowner $160 $166 + $6 + 3.6% Taxable Property Value * Tax Rate = Tax Levy New Property +1.9% Existing Property +3.7% (Appreciation) History of Tax Rate and Levy 6 $0.00 $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $0 $5 $10 $15 $20 $25 $30 $35 $40 $45 $50 21/22 22/23 23/24 24/25 25/26 26/27 Proposed Tax Rate Tax Levy (Millions) Fiscal Year Tax Levy (left axis) Tax Rate (right axis) Timeline 7 June 1 Public hearing on annual budget and secondary property tax levy Final adoption of annual budget July 20 Adoption of secondary property tax levy Remaining Analyst Questions 88