General

Regular Meeting

Columbia, SC · May 19, 2026

Minutes

Columbia City Council Budget Workshop Minutes Tuesday, May 19, 2026 Call to Order The Columbia City Council conducted a Budget Workshop on Tuesday, May 19, 2026 at City Hall (Mayor's Conference Room), 1737 Main Street, Columbia, South Carolina 29201. The Honorable Daniel J. Rickenmann, Mayor called the meeting to order at 1:05 p.m. and the following members were present: The Honorable Edward H. McDowell, Jr., The Honorable Will Brennan, The Honorable Tina N. Herbert, Mayor Pro-Tempore, The Honorable Peter M. Brown, The Honorable Tyler D. Bailey, and The Honorable Sam P. Johnson. Also present were Ms. Teresa Wilson, City Manager and Ms. Levanie S. Summerville, Assistant City Clerk. This meeting was advertised in accordance with the South Carolina Freedom of Information Act. Invocation The Honorable Edward H. McDowell, Jr. offered the invocation. Adoption of the Agenda Upon a motion made by Ms. Herbert and seconded by Mr. Johnson, Council voted unanimously to adopt the agenda subject to adding Congaree Riverfront District to Item 2 (Discussion of negotiations incident to proposed contractual arrangements pursuant to S. C. Code §30-4-70(a)(2)); Unaccompanied Minors - Finlay Park to Item 4 (Receipt of legal advice relating to matters covered by attorney-client privilege pursuant to S.C. Code §30- 4-70(a)(2)); and discussion of the employment of an employee pursuant to S.C. Code §30- 4-70(a)(1) – Office of Neighborhood Safety and Engagement as Item 6. City Council Discussion 1. Fiscal Year 2026/2027 Proposed Budget — Ms. Missy Caughman, Assistant City Manager / Strategic Initiatives & Innovation General Fund Ms. Teresa Wilson, City Manager said we are preparing to present a flat budget aimed at restoring balance, managing financial gaps and continuing to pursue growth. She shared that staffing has improved to 87% and reviewed general fund revenues, expenditures, and department needs. She also recommended a classification study to modernize job descriptions and better define expectations for a high-performance organization. Ms. Missy Caughman, Assistant City Manager for Strategic Initiatives & Innovation said the proposed budget is balanced within the fiscal year 2025/2026 framework. The budget is $203 million with $169.6 million in revenues and $34.2 million in transfers. She noted that last year’s budget absorbed major cost increases and reduced one-time revenues. This proposal maintains current service levels with the continued use of $5 million from fund Page 1 of 5 balance. Funding priorities include expanded litter control, key capital projects, fire station modernization, and technology upgrades for the Emergency Operations Center, Real Time Crime Center, and IT. Mayor Rickenmann questioned proceeding with the design of a new animal services facility before deciding whether to continue the City’s partnership with Pawmetto Lifeline. He suggested renovating the existing building instead of new construction and emphasized that long-term plans should support more fostering and adoption of animals. There was discussion about increased parking-related fines; departmental requests; detention center per-diem costs and inmate stays; prior budget reserves; the Richland County fire service fee increase; defining general government spending; the Transportation Penny supplement; funding priorities; Animal Services cost adjustments and facility options with county participation; tax-exempt properties; mirroring efforts of neighboring municipalities; and millage considerations. Ms. Teresa Wilson, City Manager noted that staff has already conducted extensive reviews of millage and related funding options, including consulting outside experts. She stated that while staff can revisit these options, the limitations on available funding mechanisms remain a significant challenge. She shared that at a recent Chamber event, participants focused on priorities like infrastructure and workforce housing but did not address how such needs would be funded. Mayor Rickenmann said the City must explore additional funding options and raised concerns that the financial burden keeps falling on the same taxpayers as properties leave the tax rolls. He said property owners and landlords should take on more responsibility for costs tied to evictions and abandoned items. He emphasized the need for a comprehensive strategy to ensure fair and sustainable cost distribution. Councilor Brown stated that the Council's work requires balancing the value-added services the City provides with the needs of various organizations. He emphasized that as the city continues to grow, it is necessary to re-evaluate certain practices and consider new approaches. Mr. Jeff Palen, Assistant City Manager of Development & Finance / CFO noted that the last review of tax-exempt properties was in 2018/2019, and updates to the county’s assessment system warrant a new review with current valuations. He recommended sending the updated list to the Economic Development and Infrastructure Committee and consulting the county assessor on audit processes and exemption evaluations. He added that some exemptions handled by the Department of Revenue may require renewed discussions with the state. Ms. Missy Caughman, Assistant City Manager for Strategic Initiatives & Innovation said the general fund already includes tourism-related revenues, with about $4 million from hospitality taxes and $1 million from the tourism development fee. She noted that a millage increase could be considered, but growth is limited by Act 388. The 4.6% rise in the tax base is not keeping pace with costs. She added that the City’s share of the property tax bill is less than 17% of the total millage. Mr. Jeff Palen, Assistant City Manager of Development & Finance / CFO also explained that the local option sales tax provides a significant offset to the City’s property tax burden. In the previous fiscal year, the City collected approximately $72 million in property taxes, of which nearly $30 million was covered by local option sales tax revenues. As a result, Page 2 of 5 residents and business owners were responsible for about $42 million of the total amount. He indicated that the current year is expected to reflect a similar distribution. There was a discussion about property taxes and credits. Ms. Missy Caughman, Assistant City Manager for Strategic Initiatives & Innovation reviewed potential millage changes and noted that items tied to an increase depend on Council’s compensation decisions. A $5 million increase would generate about $3.7 million to fund expanded litter control, police and fire capital needs, and animal shelter assessments. An increase of up to $7 million would cover those priorities and provide additional capacity for capital needs outside the City’s replacement-based lease program. There was discussion about capital additions coming out of the general fund requests. Ms. Teresa Wilson, City Manager explained that one of the main areas in which the budget is deficient is capital funding. Another critical point this year is the number of items that the City now has to absorb without the support of ARPA funds. There was a discussion about plans to address the decreased ARPA dollars. Ms. Missy Caughman, Assistant City Manager for Strategic Initiatives & Innovation said departmental budgets are being held at current-year levels while we await further direction from City Council. She noted that the budget must be advertised tomorrow, making this the final meeting before publication, though allocations can still shift. She also reminded Council of the next budget workshop, which will cover remaining funds and include updates from Lake Murray Tourism and the Convention Center. There was discussion about council-directed activities. Mayor Rickenmann noted that while the advertised budget amount cannot increase, it can be reduced or adjusted internally. He stressed the need for a long-term plan given ongoing uncertainties and suggested reassessing City functions, exploring facility consolidation and asset disposal, and reviewing the structure and funding of Development Corporations. All options should remain open as the City evaluates future revenue needs. Councilor Brown stressed the need to separate funding for basic services from capital needs, so the City can plan long-term while balancing costs. He noted that not all expenditures carry the same weight, comparing investments in public safety to those in animal control. He said the City must carefully set its priorities as it plans for the next decade. Ms. Missy Caughman, Assistant City Manager for Strategic Initiatives & Innovation explained that while many of the City’s needs are long-term, there are also immediate needs that cannot be addressed with bond funding or other borrowed sources. She noted that these ongoing operational demands, particularly within police and fire, continue to drive most of the budget increases each year. As the budget grows, a significant portion is consistently directed toward public safety, tying the City’s immediate challenges back to its long-term capital needs in that area. Mayor Rickenmann urged the exploration of public-private partnerships, noting cost savings from lease-back models in other cities. He said the City needs a long-term plan to manage major expenses like fire services and rising public safety and technology costs. He also highlighted the revenue potential of the City’s 2,100 vacant lots and stressed putting Page 3 of 5 unused land to better use. Councilor Johnson said the City should revisit its legislative priorities next year, especially regarding public-private partnerships, because current state laws are too restrictive. He raised concerns about limits on collecting revenue from non-taxpaying entities and said this needs to be part of the City’s strategy. He emphasized working with the Municipal Association, the Association of Counties, and using the City’s voice at the State House to advance these issues. Mayor Rickenmann said the City should explore a “penny” option with Richland County and pursue future legislative changes that might allow the City to implement its own. He noted that Columbia’s tax base is limited, with only about 46,000 taxable properties despite a daytime population that grows by roughly 90,000. He stressed the need to recover costs from non-resident users, citing Lexington County’s approach to funding public safety wear and tear as a model Columbia should consider. Ms. Teresa Wilson, City Manager said there was support for advertising the budget without a millage increase, noting that once advertised, the rate cannot be raised but can still be reduced. She explained that advertising without an increase preserves flexibility, and staff will continue pursuing cost-recovery measures and growth modeling with legal guidance. She added that while legislative changes will be sought next year, a millage increase is still necessary to close the current gap. There was discussion about mileage increase/advertisement and constituent engagement. Ms. Teresa Wilson, City Manager said the City should continue building its case with new approaches but stressed that comparisons to other cities must be meaningful. She noted that staff has explored many options and will keep evaluating and educating stakeholders on the City’s financial realities. She cautioned that without major state-law changes, the situation is unlikely to improve next year. Mayor Rickenmann said the City could still make revenue-generating changes this year, even if some are one-time fixes. He stressed the need to understand precise budget needs before choosing between a $5 million or $17 million increase. The City should identify essential services and consider restructuring others. He added that long-term, the City should not remain heavily invested in homelessness efforts. All of these factors must guide the City’s financial path forward. Ms. Missy Caughman, Assistant City Manager for Strategic Initiatives & Innovation explained that the budget must be advertised now because the fiscal year begins July 1, but the millage rate itself would not take effect until later in the fall when it is sent to Richland County. If Council were to consider a millage increase, the supporting information could still be evaluated and finalized before the rate is officially submitted. There was discussion about millage deadlines and options for revenue drivers. Councilor Brown said the Economic Development and Infrastructure Committee is the right place for detailed budget and revenue review. He urged evaluating departmental costs and fees, sending specific proposals to the committee, distinguishing discretionary from non-discretionary spending, and completing a three-month review to clarify the City’s cost structure. Page 4 of 5 There was discussion about the number of millage rates. Executive Session Upon a motion made by Ms. Herbert and seconded by Mr. Johnson, Council voted unanimously to enter into Executive Session at 2:46 p.m. for the discussion of Items 2 through 5, as amended to include adding Congaree Riverfront District to Item 2; Unaccompanied Minors - Finally Park to Item 4; and the discussion of the employment of an employee pursuant to S.C. Code §30-4-70(a)(1) – Office of Neighborhood Safety and Engagement as Item 6. 2. Discussion of negotiations incident to proposed contractual arrangements pursuant to S. C. Code §30-4-70(a)(2) CRC 911 Communications Agreement Congaree Riverfront District 3. Receipt of legal advice relating to a pending, threatened or potential claim pursuant to S.C. Code §30-4-70(a)(2) Lake Windermere Dam Ballpark, LLC v. City of Columbia, et al. 4. Receipt of legal advice relating to matters covered by attorney-client privilege pursuant to S.C. Code §30-4-70(a)(2) Forest Acres Franchise Fee Washington Square leases Green Street Bridge Unaccompanied Minors - Finlay Park 5. Discussion of the compensation of an employee pursuant to S.C. Code §30-4- 70(a)(1) Municipal Court 6. Discussion of the employment of an employee pursuant to S.C. Code §30-4- 70(a)(1) Office of Neighborhood Safety and Engagement Adjournment The meeting was adjourned at 4:41 p.m. Respectfully Submitted: Erika D. Moore Hammond, MMC, CPM City Clerk Page 5 of 5

Agenda

Packet

Columbia City Council Work Session Agenda Tuesday, May 19, 2026 at 1:00 PM City Hall • Mayor's Conference Room 1737 Main Street, 2nd Floor, Columbia, SC 29201 City Clerk’s Office: (803)545-3045 or cityclerk@columbiasc.gov The Honorable Daniel J. Rickenmann, Mayor The Honorable Edward H. McDowell, Jr. • The Honorable William Brennan The Honorable Tina N. Herbert, Mayor Pro-Tempore • The Honorable Peter M. Brown The Honorable Tyler D. Bailey • The Honorable Sam P. Johnson Call to Order Invocation Adoption of the Agenda City Council Discussion 1. Fiscal Year 2026/2027 Proposed Budget — Ms. Missy Caughman, Assistant City Manager / Strategic Initiatives & Innovation General Fund Executive Session 2. Discussion of negotiations incident to proposed contractual arrangements pursuant to S. C. Code §30-4-70(a)(2) CRC 911 Communications Agreement 3. Receipt of legal advice relating to a pending, threatened or potential claim pursuant to S.C. Code §30-4-70(a)(2) Lake Windermere Dam Ballpark, LLC v. City of Columbia, et al. 4. Receipt of legal advice relating to matters covered by attorney-client privilege pursuant to S.C. Code §30-4-70(a)(2) Forest Acres Franchise Fee Washington Square leases Green Street Bridge 5. Discussion of the compensation of an employee pursuant to S.C. Code §30-4- 70(a)(1) Municipal Court Adjournment Page 1 of 2 Page 1 of 26 Page 2 of 2 Page 2 of 26 Meeting Date: May 19, 2026 Department: Administration - Strategic Initiatives & Innovation From: Missy Caughman, Assistant City Manager Fiscal Year 2026/2027 Proposed Budget — Ms. Missy Caughman, Assistant City Manager / Strategic Initiatives & Innovation General Fund Background Summary: Attachments: 1. FY 26-27 Council Budget Workshop General Fund Presentation 5-19-26 05/14/2026 10:58 AM Page 1 Page 3 of 26 City of Columbia FY 2026-2027 Proposed Budget General Fund May 19, 2026 FY 26-27 Budget Workshop 5-19-26 1 Page 4 of 26 FY 2026/2027 • Proposed General Fund Budget Workshop • Budget Assumptions Discussion Topics • Revenues • Expenditures • Property Tax & Millage Rates • Budget Schedule 4/21/26 2 Page 5 of 26 Strategic Focus Areas From Completion to the Next Chapter Investing in Our Workforce  Moving from project completion to long-term  Prioritizing competitive pay and modern maintenance and activation classification systems  Protecting prior investments by sustaining  Strengthening performance management service delivery at a high level to drive accountability and results  Addressing increased operational demands  Ensuring we attract, develop, and retain a across departments high-performing workforce Growth & Service Readiness Together, We Are Columbia  Growth demands require a proactive  Success depends on collaboration and shared approach to service delivery outcomes  Budget development emphasizes cross-  The need for departments to be properly department coordination, reducing silo staffed, equipped, and organized to operations, and ensuring investments support successfully operate with increased demands citywide goals and long-term sustainability FY 26-27 Budget Workshop 5-19-26 3 Page 6 of 26 FY 26/27 Budget Assumptions • Budget Development Approach • Aim to maintain service levels while preserving fiscal integrity • Focus on fiscal stability, continuity, and alignment with strategic objectives • Budget Balancing • Department Budgets held to FY 25/26 Funding • The FY 25/26 Budget included $10M in funding of new or expanded programs previously funded with one-time revenues, use of special revenues, and fund balance • Base budget maintains current service levels • Continues use of $5 million in fund balance • Not sustainable long-term • Millage options address identified public safety and operating needs • Long-term capital projects will require additional debt planning • Subject to budget capacity and borrowing limitations FY 26-27 Budget Workshop 5-19-26 4 Page 7 of 26 FY 2026/2027 Proposed General Fund Total Proposed Budget $203,471,552 FY 26-27 Budget Workshop 5-19-26 5 Page 8 of 26 FY 2026/2027 General Fund Revenues • Projected Revenue: $169.6 million • Revenue growth of approximately $3.2M (4.6%) over the prior adopted budget • Primary revenue sources remain property taxes and Revenue Category FY 24/25 Actual FY 25/26 FY 26/27 $ Change licenses & permits Adopted Proposed • Increase of $2.7M (5.7%) General Property Tax $70,598,717 $72,102,689 $75,391,208 $3,288,519 • Total transfers: $34.2 million • Reflects Capital Lease Proceeds of $15M Licenses & Permits $47,271,871 $47,816,419 $50,565,092 $2,748,673 • Increase of $11M from FY 25/26 • Return to normal level funding From Other Agencies $20,767,277 $20,437,331 $22,317,350 $1,880,019 Current Service Charges $18,079,851 $18,240,177 $18,295,032 $34,855 General Fund Revenues 80,000,000 Fines & Forfeitures $359,432 $330,250 $407,000 $76,750 70,000,000 Miscellaneous & Other $3,527,663 $2,086,489 $2,296,485 $209,996 60,000,000 50,000,000 Total Revenue $161,604,811 $161,013,355 $169,572,167 $8,258,812 40,000,000 Total Transfers In $28,966,593 $22,949,385 $34,199,385 $11,250,000 30,000,000 20,000,000 Total Rev. & Transfers $190,571,404 $183,962,740 $203,471,552 $19,508,812 10,000,000 0 GENERAL LICENSES AND FROM OTHER CURRENT SERVICE PROPERTY TAX PERMITS AGENCIES CHARGES ACTUAL FY24/25 ADOPTED FY 25/26 PROPOSED FY 26/27 6 Page 9 ofBudget FY 26-27 26 Workshop 5-19-26 Expenditure Drivers • Debt service increases tied to prior commitments • Capital equipment replacement restored to sustainable funding levels • Police and Fire step programs maintained • Performance-based merit program reserve included for employee retention • Detention center per diem increase adds approximately $600,000 in costs FY 26-27 Budget Workshop 5-19-26 7 Page 10 of 26 FY 2026/2027 General Fund Expenditures • Department Budgets total $167,001,492 • Department Budgets held to FY 25/26 budget levels • Increase of $5,121,965 (3.2%) • Includes $2.5M for Public Safety Step & employee performance merit program EXPENDITURES BY FUNCTION • $1.5M Budgeted Reserve • $1.2M for 911 operations • Non-Departmental total $11,147,678 GENERAL • Increase of $957,243 (9.4%) GOVERNMENT 15% • Reflects partial year payment for the addition of Capital Lease Payment • Includes an increase of $600,000 for jail per diem • Transfers Out $25,322,381 PUBLIC SAFETY PUBLIC WORKS 43% • Total increase of $13,429,603 (10.6%) 12% • Net increase is $2.4M when adjusted for the addition of capital lease at $15M • Debt Service increase of $1.2M • Internal Service increase of $1.15M FY 24/25 FY 25/26 FY 26/27 PARKS & EXPENDITURES ACTUAL BUDGET PROPOSED RECREATION PUBLIC SAFETY $93,049,046 $85,489,763 $86,713,088 8% GENERAL GOVERNMENT $24,281,217 $27,267,225 $30,970,815 PUBLIC WORKS $28,835,942 $24,314,501 $24,314,501 PARKS & RECREATION $15,421,214 $16,699,642 $16,699,642 COMM & DEV. NON-DEPT, & SERVICES COMM & DEV. SERVICES $6,169,881 $8,108,396 $8,303,446 TRANS OUT DEBT SERVICE CAPITAL 4% CAPITAL PROJ/REPLACE. $1,358,640 $4,000,000 $15,000,000 4% 7% REPLACE. DEBT SERVICE $11,462,659 $12,590,870 $14,095,784 7% NON-DEPT, & TRANS OUT $9,705,870 $5,492,343 $7,374,276 TOTAL $190,284,469 $183,962,740 $203,471,552 8 FY 26-27 Page Budget 11 of 26 Workshop 5-19-26 Priorities for Funding • Expanded litter control program • General capital projects funding (CIP) • Park facilities, road rebuilds, sidewalks • New Municipal Court facility • Animal Services shelter design and construction • Fire station modernization and additional facilities • Emergency Operation Center and Real Time Crime Center technology upgrades • Information Technology upgrades FY 26-27 Budget Workshop 5-19-26 9 Page 12 of 26 Property Tax Trends • Property tax revenue projected at $75.4 million • $3,288,591 (4.6%) above current year budget • Indicates positive growth, but not at the rate that the budget increases • South Carolina reassessment cycle limits recurring revenue growth • Millage rates are “rolled back” to keep rates neutral • Act 388 caps growth between reassessment cycles • About 30% of market-rate properties in Columbia are exempt from property taxes FY 26-27 Budget Workshop 5-19-26 10 Page 13 of 26 2025 Millage Schedule Richland County School District 1* 350 70.00% 300 60.00% 250 50.00% 200 40.00% Millage 150 30.00% 100 20.00% 50 10.00% 0 0.00% Midlands Tech Fire County Operting Mental Health Cultural Education City of Columbia Mills 5.7 21.9 84.3 1.3 18.3 309.3 89.6 % of Total 1.07% 4.13% 15.89% 0.25% 3.45% 58.31% 16.89% • Property Taxes generate ~45% of General Fund Revenues • Levied against real and personal property • City millage rate is 89.6 mils • The City’s portion of the total property tax bill is <17% of the total tax bill. • Chart is based on City Properties in Richland 1, total Millage = 530.4 • *City Properties in Richland 2 total Millage = 634.2 FY 26-27 Budget Workshop 5-19-26 11 Page 14 of 26 Property Tax Example Effect on tax bill by property type – before LOST credit Value of a Mill: $790,791 Collection percent 95% Assessment 4% Annual Growth Rate 3.50% Taxable Annual Taxable Annual Value Mills Increase Value Mills Increase Additional Revenue Annual Mills Generated Growth 100,000 5 $20 250,000 5 $50 5 3,756,257 131,469 7 $28 7 $70 7 5,258,760 184,057 10 $40 10 $100 10 7,512,515 262,938 17 $68 17 $170 17 12,771,275 446,995 Assessment 6% Taxable Annual Taxable Annual Value Mills Increase Value Mills Increase 100,000 5 $30 250,000 5 $75 7 $42 7 $105 10 $60 10 $150 17 $102 17 $255 FY 26-27 Budget Workshop 5-19-26 12 Page 15 of 26 Development Incentive Project - Estimated Property Tax Growth Existing and Potential New Projects Existing Parcels after Rolloff New Projects Total Tax Year One Two Three Four Five Six Seven Eight Nine Ten Tax 2024 - - - - - - - 268,092 160,855 - 428,947 2025 - - - - - - - 268,092 160,855 294,901 723,849 2026 42,479 63,685 45,463 - - - - 268,092 160,855 294,901 875,476 2027 42,479 63,685 45,463 107,943 86,735 - - 268,092 160,855 294,901 1,070,154 2028 42,479 63,685 45,463 107,943 86,735 - - 268,092 160,855 294,901 1,070,154 2029 42,479 63,685 45,463 107,943 86,735 143,037 - 268,092 160,855 294,901 1,213,192 2030 42,479 63,685 45,463 107,943 86,735 143,037 - 268,092 160,855 294,901 1,213,192 2031 42,479 63,685 45,463 107,943 86,735 143,037 64,752 268,092 160,855 294,901 1,277,944 2032 42,479 63,685 45,463 107,943 86,735 143,037 64,752 268,092 160,855 294,901 1,277,944 Note: (1) While Existing Parcels are paying tax in current year, this table shows the growth of tax when the incentive expires (2) New Projects show the early years of property tax that will be paid under the incentive FY 26-27 Budget Workshop 5-19-26 13 Page 16 of 26 Millage Adjustment Options Option Mills Added Est. Revenue Generated What It Funds A 5 Mills $3,756,257 Expanded litter control Fire & Police equipment needs Assessment & construction drawings - animal shelter B 7 Mills $5,258,760 Option A investments Capital additions – vehicles and heavy equipment C 10 Mills $7,512,515 Options A & B investments Technology upgrades Consideration of additional debt* - this contemplates a Facilities IPRB to include Municipal Court, 911, Animal Services, Fleet Facility expansion, additional future needs to complete ongoing facility projects D 17 Mills (cap) $12,771,275 Options A, B & C investments Consideration of additional debt for capital projects* - This contemplates a FY 26-27 Budget Workshop 5-19-26 14 Page 17 of 26 Closing • Budget reflects fiscal discipline and protection of core services • Council direction will shape future investments and service expansion • Staff appreciates Council leadership and engagement throughout the process FY 26-27 Budget Workshop 5-19-26 15 Page 18 of 26 Next Steps • Budget Schedule • May 19th – Budget Workshop • May 20th – Budget public hearing notice sent to the newspaper for advertisement • May 26th – Budget Workshop • Special Revenues | Water & Sewer | Storm Water | Parking • June 9th – Budget Public Hearing and 1st Reading • June 16th – 2nd Reading and Final Approval 5-5-26 FY 26-27 Budget Workshop #2 GF 16 Page 19 of 26 Discussion / Q&A THANK YOU! FY 26-27 Budget Workshop 5-19-26 17 Page 20 of 26 Property Tax Glossary • Market Value - The amount that property can reasonably be expected to sell for on the open market with a willing buyer and a willing seller. • Taxable Value - The amount that is used to calculate the assessed valued of a property. This amount can be either the market value or a reduced amount if the property qualifies for an exemption or is capped under State Law. • Assessment Ratio - The percentage of your property’s taxable value which is subject to taxation. Real Property (excluding manufacturing property) is assessed in South Carolina at either a 4% or 6% ratio. • Assessed Value or Assessment - The result of a property's taxable value multiplied by the appropriate percentage. The assessed value is multiplied by the millage rate to determine the amount of property tax, excluding any tax credits that may apply. • Millage Rate - The amount of mills levied in order to meet the budget of a school district, county, city or other political subdivision. One mill equals 1/1000 of a dollar or 1/10 of a cent. • Reassessment - Process required by state law to determine the change in market value of property over a certain period of time in order to provide equity among taxpayers. South Carolina Code of Laws requires that once every five years, all real property in every county within the State will be reappraised and adjusted to a current fair market value as of December 31st of the year before implementing the reassessment. Only real property is appraised during a reassessment. 5-7-2024 FY 2024-2025 PROPOSED BUDGET 18 Page 21 of 26 Meeting Date: May 19, 2026 Department: City Clerk’s Office From: Erika Hammond, City Clerk Discussion of negotiations incident to proposed contractual arrangements pursuant to S. C. Code §30-4-70(a)(2) CRC 911 Communications Agreement Congaree Riverfront District Background Summary: Attachments: None 05/13/2026 3:36 PM Page 1 Page 22 of 26 Meeting Date: May 19, 2026 Department: City Clerk’s Office From: Receipt of legal advice relating to a pending, threatened or potential claim pursuant to S.C. Code §30-4-70(a)(2) Lake Windermere Dam Ballpark, LLC v. City of Columbia, et al. Background Summary: Attachments: None 05/14/2026 11:01 AM Page 1 Page 23 of 26 Meeting Date: May 19, 2026 Department: City Clerk’s Office From: Teresa Knox, City Attorney Receipt of legal advice relating to matters covered by attorney-client privilege pursuant to S.C. Code §30-4-70(a)(2) Forest Acres Franchise Fee Washington Square leases Green Street Bridge Unaccompanied Minors - Finlay Park Background Summary: Attachments: None 05/13/2026 3:39 PM Page 1 Page 24 of 26 Meeting Date: May 19, 2026 Department: City Clerk’s Office From: Erika Hammond, City Clerk Discussion of the compensation of an employee pursuant to S.C. Code §30-4- 70(a)(1) Municipal Court Background Summary: Attachments: None Page 1 Page 25 of 26 Meeting Date: May 19, 2026 Department: City Clerk’s Office From: Discussion of the employment of an employee pursuant to S.C. Code §30-4- 70(a)(1) Office of Neighborhood Safety and Engagement Background Summary: Attachments: None Page 1 Page 26 of 26