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1 <br />CITY OF GEM LAKE <br />2026 BUDGET <br />December 16, 2025 <br />2026 BUDGET & <br />PROPERTY TAX LEVY <br />Began with a $755,032 preliminary General Fund <br />budget. <br />Preliminary property tax levy of $768,005. <br />Used in the notices property owners received. <br />These were worst case scenarios. <br />Refinements have reduced both the budget and <br />property tax levy.1 <br />1 <br />2