During its regular meeting on Tuesday, Sep. 1, 2026, The Colony City Council adopted the fiscal year 2026-27 budget and approved a new property tax rate of $0.6275 per $100 of taxable value. This rate reflects a quarter-cent reduction from the current rate. This action marks the 26th consecutive year the City Council has either reduced the tax rate or held it flat.
Budget Expenditures and Process
The council also approved the FY 26-27 budget, which reflects a General Fund expenditure decrease of $3,431,504 compared to the previous year’s budget. During the meeting, minor modifications were recommended that will be updated and reflected in the adopted budget.
The adopted budget reflects several months of work by City staff to trim roughly ten percent of budgeted expenses. In early spring, staff utilized a zero-based budgeting process to identify opportunities to reduce departmental expenses while maintaining core services.
