City Council Hearing Budget & Appropriations; June 8, 2026

The CharmTV Citizens' Hub Budget and Appropriations Committee held a work session on June 8, 2026, to discuss Council Bill 26-0151, which proposes increasing the homestead tax credit cap from 4% to 5% as part of a broader strategy to reduce residential property tax rates below $2 per $100 of assessed value by fiscal year 2028. The committee reviewed an amendment pairing the tax credit increase with a phased 5-cent residential property tax rate reduction. Finance representatives presented updated fiscal analyses and outreach strategies to enroll eligible homeowners in tax relief programs, including plans to issue a Request for Proposals (RFP) for external partners to assist with community engagement. Committee members debated the potential impacts on homeowners, especially those on fixed incomes, and discussed data transparency regarding individual tax burdens. An amendment requiring periodic renewal of the tax credit increase was introduced and passed. The committee voted to move the bill forward to the full city council for a second reading, with the motion passing by a vote of three to one, with one member absent. The meeting emphasized balancing tax relief with fiscal responsibility and enhancing outreach to maximize program participation.