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With Murray’s proposed levy hearing finished, next on the list is their proposed budget hearing set for 6 p.m. next Wednesday, April 9, at Murray City Hall.
At their public hearing on March 25, the Murray city council had no public present to speak for or against a proposed total levy rate of $1,000 per valuation on regular property for Fiscal Year 2025-26 at 18.11938. This is a decrease from 18.12042 in FY24-25; the levy rate for ag properties remained the same at 3.00375.
Taxes levied on properties for FY25-26 are budgeted at $264,271, a slight decrease from $265,268 in actual FY24-25 numbers. With no uncollected property taxes in the budget, the net current property taxes reflect the same values. Intergovernmental revenues will see a big increase in FY25-26 to $1,428,114 from $184,895 in the current fiscal year. Charges for fees and services almost double from $470,510 to a budgeted $860,120 in FY25-26. Total revenues and other sources budgeted for FY25-26 comes in at $3,023,861, an increase of $1,128,095.
In expenditures and financing uses, public works and capital projects will see large decreases while culture and recreation and general government will increase. For public works, FY24-25 has an actual budget of $435,943 and will decrease by $272,424 to a budgeted $163,519 in FY25-26. Capital projects are budgeted at $0. For culture and recreation, the current budgeted amount is $77,253, and will increase to a budgeted $591,572 in FY25-26. General government will more than triple from $270,460 in FY24-25 to $841,696 budgeted in FY25-26. With an increase in business type/enterprises, the total all expenditures/transfers out is budgeted at $3,029,656 in FY25-26 up from $2,036,608 in FY24-25.
The budgeted FY25-26 beginning fund balance as of July 1 is budgeted at $1,045,637 with a June 30 ending fund balance of $1,039,842. FY25-26 begins July 1.
Members of the public who are residents or taxpayers may speak at the public hearing in favor of or against the proposed budget, in whole or in part. Copies of a detailed proposed budget are available to be viewed or obtained at the Murray mayor and City Clerk offices and at Murray Library.