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Highland Village City Council members unanimously approved the fiscal year 2025-26 budget at a Sept. 9 meeting.
The budget totals $67.2 million, which includes expenditures for general operations, public safety and streets. Council members also unanimously approved a tax rate of $0.500984 per $100 of assessed value, an increase from the FY 2024-2025 tax rate of $0.500273.
The overview: The city is projecting $41.58 million in revenue from property tax, sales tax, and other fees and grants.
The city expects to spend $26.2 million from the general fund in expenditures, which is a 5.73% increase from FY 2024-25.
The city’s projected revenue for the general fund totals $22.9 million, which is a 0.2% increase from last year, according to city documents. Sales tax revenue decreased by 7.8% from fiscal year 2024-25, City Manager Paul Stevens said.
“We have seen a slowdown like the rest of the state in sales tax revenues,” Stevens said. “We do hope there will be some changes in the economy, and maybe that will pick up again.”
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