Cold Spring Holding Truth-In-Taxation Hearing for 2026 Budget Wednesday

(KNSI) – The Cold Spring City Council will hold the truth-in-taxation hearing tonight for its 2026 budget.

By law, the hearing cannot begin before 6:00 p.m., so other items on the agenda will be shuffled around as needed to make the timing work. The meeting will start at its traditional time of 5:00 p.m. inside council chambers at city hall.

The budget has not changed since the preliminary approval in September. Current figures expect the city’s tax capacity to grow by 2.54% due to new construction, and the average property valuation is estimated to increase by 3.15%. That doesn’t quite offset the roughly $176,000 increase in the tax levy. To plug the gap, the tax rate will rise by 3.32%.

The city has calculated the effect on the average homeowner. If a property is valued at $200,000, the new levy rate means just under $33 would be added to the bill. That is independent of the change stemming from revision in assessed value.

Wednesday will also be Take Three to finalize approval of the schematic design for the government center remodel, which would expand administrative offices and add to the police station. Council held open the issue yet again at the last meeting since one member was not present.

The group has to decide whether to add a garage with anywhere from two to six stalls, which would serve as a fortified entrance for processing inmates for the jail. They will also consider the need for parking in the back of the police station. The four alternatives range from “do nothing,” which costs no additional money, to as much as $495,748 for the six-stall garage and parking option.

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