With the budget process officially underway for most communities, Lake City Administrator Jacob Matthews is proposing a slight decrease in city residents’ tax rate for fiscal year (FY) 2026. For last year’s budget, Matthews says the tax rate was $22.76579 per $1000 of taxable valuation, but he proposes a five percent decrease this year.
Matthews says the proposed $21.42409 tax rate will generate total revenue of $980,293 for the city, a $791 decrease from FY25. Matthews says even though the tax rate did decrease, individuals might not see much of a difference in property tax totals due to valuations.
While this is just the preliminary proposal to the council and will need official approval along with public hearings to be implemented, Matthews says city officials are always looking to provide these essential city services to community members in the most cost-effective way.
Again, this is not the official tax rate for Lake City residents; it is just the proposed rate as budget preparations continue. The final budget must be completed by April 30, and the city’s tax rate will be included with the Calhoun County and South Central Calhoun Community School District tax rates.
