City Council

D. RESOLUTION NOS. 26-31 AND 26-32 SETTING THE RATE AND AMOUNT NECESSARY FOR THE 2026-27 FISCAL YEAR RETIREMENT LEVY The City’s retirement costs are funded by a special property tax levy authorized by the voters in 1948. The special property tax levy approved by the voters requires the City Council to annually establish a tax rate to pay for the state employees’ retirement system cost. No change in the tax rate is recommended for the 2026-2027 fiscal year and the City Council is asked to confirm the current rate and fix the amount of property taxes to be generated by adopting two resolutions. California Environmental Quality Act (CEQA) Determination: Not a Project as defined in Section 15378 of the State CEQA Guidelines. Recommended Action: Staff recommends that the City Council adopt Resolution No. 26-31, setting the tax rate at 14 cents per $100 assessed valuation, and Resolution No. 26-32, fixing the amount of property taxes to be generated for the City’s employees’ retirement cost for fiscal year 2026-2027.