City officials said assessed property values increased about 7.8% from 2025 to 2026 — a gain of roughly $798.6 million — as commissioners received an initial overview of figures that will be used in preparing the 2027 budget.
Ben Hart of Baker Tilly, the city’s financial adviser, told commissioners Tuesday the increase would lower the city’s revenue-neutral mill levy from 54.506 mills to 51.056 mills if the city chose to keep property tax revenues at the same level as last year.
“Revenue-neutral is really holding revenues the same as it was last year to this year,” Hart said.
