Newport City Council Approves Reduced Property Tax Rate for 2025 2026

In a pivotal meeting held on August 15, 2025, the Newport City Council addressed a significant financial matter that will impact property owners across the city. Under the warm glow of city hall lights, council members gathered to discuss the ratification of the property tax rate for the fiscal year 2025-2026, following a county-wide reappraisal that saw property values soar by as much as 100% for some residents.

City officials explained that, by law, the tax rate must be adjusted to ensure that the city collects the same amount of revenue despite the increased property valuations. As a result, the council proposed a reduction in the property tax rate from 2.41 to 1.52 per $100 of assessed value. This adjustment is designed to maintain the city's revenue levels while alleviating some of the financial burden on property owners who have recently faced steep increases in their appraisals.

The resolution was read into the record, detailing the necessity of this change and confirming that the city would not receive any additional revenue from the reappraisal process. The council members unanimously supported the motion, with Alderman Dwenna, Alderman Randy Reagan, and Alderman Steve Smith all voting in favor, signaling a collective commitment to balancing fiscal responsibility with the needs of the community.

As the meeting concluded, the council's decision to lower the tax rate was met with relief from residents, who had expressed concerns over the rising costs associated with their property taxes. This move not only reflects the council's responsiveness to community feedback but also underscores the ongoing challenges of managing public finances in a rapidly changing economic landscape. The city of Newport is poised to navigate these changes with a focus on maintaining stability and support for its residents in the coming fiscal year.