Page 353 - FY 2026-2027 Adopted Budget Book

Tax Rate: A percentage applied to all taxable property to raise general fund revenue.

Taxes: Compulsory charges levied by a government for the purpose of financing services performed for the
common benefit.

Valuation: The legal requirement that a community’s assessed value on property must reflect its market, or
full and fair cash value.

Working Capital: The measurement of the operating liquidity of a proprietary fund by subtracting the current
liabilities from the current assets. The Stormwater fund balance is presented using the working capital
calculation.

FY 2026-2027 Adopted Budget Book · September 15, 2026 349