Oak Ridge budget approved on first reading
The Oak Ridge City Council has tentatively approved a $66.3 million budget for fiscal year 2026, with no increase in property taxes.
Approval of the budget ordinance on first reading came without opposition Monday June 2, although council member Sean Gleason was absent.
The council plans to vote on it on second reading during its regular meeting Monday at 7 p.m. in the Central Services Complex Multipurpose Room, 100 Woodbury Lane.
The council and city staff may make some changes between meetings. City Manager Randy Hemann gave a detailed presentation as it stood on June 2.
The city does not plan to change the certified tax rate provided by the state Board of Equalization, although Hemann said individual property owners’ tax levies may vary based on whether the change in their assessment is above or below the city average.
The city is budgeting for $59,879,388 in general-fund revenue. It plans $66,292,868 in general fund expenditures, $23,810,873 in waterworks expenditures and $63,270,758 for electric fund expenditures.
