Corinth, Texas Development News
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City of Corinth, TX Live Stream
Published: Jul 8, 2026
City Plans $10.8 Million Debt Sale for Capital Improvements, Including Streets and Drainage
The city is proposing a $10.8 million debt sale as part of its five-year Capital Improvement Program (CIP). This issuance, planned for February of the following year, is primarily for street improvements and drainage projects. The debt sale is expected to add approximately 1 cent to the tax rate in 2027, with further increases projected in subsequent years to fund ongoing CIP needs. The council reviewed the specific projects included in the bond sale.
City Council Explores Budget Cuts to Address $1.6 Million Shortfall
The City Council discussed potential budget reductions to mitigate a projected $1.6 million shortfall, primarily driven by increased compensation costs and overtime. Proposed cuts include freezing several positions, eliminating transfers to internal service funds, reducing operational budgets, and deferring non-essential projects. The council debated the impact of these cuts on services and the long-term financial health of the city.
City Proposes 3% COLA for Employees, No Market Adjustments for Public Safety in 2026 Budget
The city is recommending a 3% Cost of Living Adjustment (COLA) for all employees as part of the 2026 budget. While this is a standard increase, the city is not recommending market adjustments for police and fire departments this year due to budget constraints. The budget also includes provisions for employee benefits, with a proposal for employees to contribute towards dependent coverage and a smaller contribution for employee-only coverage to help mitigate rising healthcare costs.
City Council Reviews 2026 Budget Priorities Amidst Financial Challenges
The City Council engaged in a budget priority workshop for the 2026 fiscal year, highlighting anticipated challenges such as property tax revenue constraints, senior tax freezes, and employee compensation. Discussions included the Capital Improvement Program (CIP), a potential debt sale of $10.8 million, and the impact of proposed state legislation. The council reviewed preliminary budget figures, considered potential cuts to mitigate tax rate increases, and discussed the upcoming budget calendar and adoption process.
Senior Tax Freeze Impact on City Budget and Tax Rate Under Review
The City Council discussed the potential impact of the senior tax freeze on the city's budget and tax rate. The freeze, which allows seniors to defer property taxes, has a significant financial impact, reducing taxable value and requiring adjustments to tax rate calculations. The council debated the implications of state-proposed changes to the senior tax freeze eligibility (lowering the age to 55) and its potential catastrophic effect on city revenue.
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City of Corinth, TX Live Stream
Corinth City Council Regular Session July 2, 2026
City Council Workshop and Regular Session
City Council Workshop and Regular Session
City of Corinth, TX Live Stream
Corinth City Council Regular Session June 18, 2026
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