Nikole Babb
nbabb@cherryroad.com

The City of El Dorado has scheduled a Public Hearing to allow residents to discuss the city’s intent to exceed the revenue neutral rate next Monday.

The Revenue Neutral Rate, (RNR), is the tax rate that generates the same amount of property tax revenue as the year prior. The RNR doesn’t take into account context such as inflation or changes in the city.

The Truth in Taxation, or Revenue-Neutral law was passed in 2021, which seeks to promote transparency in budget changes. The law requires cities to give taxpayers written notice of intent to exceed the RNR, hold a public hearing, and take a recorded vote on the outcome of the tax rate. That is exactly what El Dorado City Commission will do on September 15.

As published on the city website as a Public Notice on September 2, the currently planned for mill levy for 2026 is 58.710, exceeding the revenue neutral rate by 3.041 mills. The 2025 mill levy was 58.417.

The Public Hearing will take place during a regular City Commission Meeting beginning at 5:30pm. The meeting will be held in City Hall located at 220 E. First Ave. Residents will be able to make comments and ask questions regarding the budget and mill levy during this time. All City Commission meetings are open to the public to attend.