Meadowlakes adopts $4.47 million budget, tax rate increase
The city of Meadowlakes recently adopted its new budget for the 2026-27 fiscal year. File photo
Meadowlakes City Council approved a $4.47 million budget for the 2026-27 fiscal year Tuesday, Sept. 15, raising the city’s property tax rate while increasing funding for recreation operations.
The budget calls for approximately $4.47 million in expenditures and transfers across city funds, supported by $3.88 million in projected operating revenue, $463,625 in transfers between funds and approximately $135,000 in reserves.
TAX RATE
Meadowlakes’ property tax rate for 2026-27, which begins Oct. 1, is $0.2652 per $100 of property valuation, a 7.98 percent increase from last year’s $0.2456.
The new rate is expected to generate $38,292, or 3.5 percent, more in property tax revenue than last year’s budget, including $7,843 from new property added to the tax roll.
Homeowners could see higher city property tax bills due to the increased rate, although individual bills will depend on property values and exemptions.
Home values have dropped since last year, with the Meadowlakes median home values at $438,760.26 in 2026, a 4.59 percent decrease from the 2025 median home value of $459,760.26.
According to the budget, the city projects approximately $1.14 million in total property tax revenue, including $647,148 for the general fund and $491,564 for debt service.
BUDGET
The 2026-27 budget calls for approximately $4.47 million in expenditures and transfers across city funds, with $3.88 million in projected operating revenue.
The general fund includes approximately $1.07 million in expenditures and transfers, down from an estimated $1.17 million for the previous fiscal year. The budget allocates $187,757 for public safety and $13,700 for capital improvements, including $10,000 for an emergency alert system and a $3,700 contribution toward the Avenue N bridge.
The city is increasing support for recreation operations, with the general fund transferring $225,000 to the Recreation Fund, up from $97,250 budgeted last year. The $1.15 million recreation budget also includes $60,000 for capital improvements.
The utility fund accounts for approximately $1.76 million in expenditures and transfers, including $100,000 for capital improvements.
To cover expenses exceeding projected revenue, the city plans to use approximately $134,679 in reserves across its general, utility and recreation funds.
DEBT
Meadowlakes budgeted approximately $488,650 in debt-service payments for 2026-27, including $160,000 in principal and $328,650 in interest on its 2024 certificates of obligation.
The city projects $493,564 in debt service fund revenue, leaving an anticipated $4,914 increase in the fund’s balance.