Agenda Items ▸ Communications from City Officers
COF 2025-143
A presentation regarding FY27 Budget Planning Amid Economic Headwinds
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The document From Assistant City Manager Finance Claire Spinner · 31 pages
After over a decade of growth, the City faces a multi-year downturn with falling commercial values, weak economic trends, & slower development Between Jan. 1 2024 and Jan 1 2025, commercial values fell 12.5%, new growth declined over 40%, and excess levy capacity decreased by 8.6% 6 We anticipate that these negative trends will persist over the next several years Commercial real property values fell by 12.5% New growth added to the tax base dropped by over 40% decreased by 8.6%
In billion $
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