Norris council OKs 2026 budget
Norris residents will pay an adjusted property tax of likely no more than 92 cents per $100 evaluation for fiscal year 2026, beginning July 1, an amount designed to hold the rate from last year despite a countywide reassessment this year that raised property values significantly.
The City Council last week unanimously approved the city’s 2026 spending plan on first reading of the budget ordinance.
The council scheduled a public hearing on it at 5:30 p.m. June 9, just prior to the 6 p.m. regular council meeting, during which the budget is expected to be finalized and approved on second and final reading.
City Manager Adam Ledford said the actual tax rate will be set before the final vote, and will match the certified tax rate the city will receive from the state Board of Equalization.
Although property values have increased, state law requires local governments to set their new tax rates to maintain the same level of revenue that was received under the previous year’s tax rate.
Local governments are not permitted to benefit automatically from the new property assessments, under state law. To increase revenue, they must go through the required formal process to raise their property taxes.
Ledford and Mayor Chris Mitchell said the city does not intend to raise taxes for the new fiscal year.
The tentative new operating budget, which does not include water and sewer, calls for spending $2.797 million during the 2026 fiscal year, against general revenues of $2.2 million.
That includes capital expenditures that would be offset by grants.
Total local tax revenues are projected to be $1.2 million, including $788,000 in real property tax collections and $280,000 in local-option sales taxes, along with other lesser revenue amounts and sources.
Other money for the budget will come from “intergovernmental revenue” of $673,775, $197,860 in charges for administrative services, $6,500 from licenses and permits, $2,680 from fines and penalties, and $148,000 in miscellaneous revenues.
