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Posted on September 19, 2017
The Board of County Commissioners of Leon County are set to vote on maintaining a millage rate for FY 2018 that will raise $5.7 million more in property tax revenue.
This additional revenue is due to a 5.07% increase in FY2018 property values.
At the July 11, 2017 meeting, the Board decided against decreasing the current 8.3144 millage rate to the roll back rate which would have kept the property tax revenue the same as last year.
The adopted FY2018 budget of $253,723,600 reflects a 3.09% percent increase from FY2017. This translates into approximately $7.8 million in additional revenue over the FY2017 level.
The biggest change in spending is for public safety. The Sheriff’s Office revenue increased by 4.5% ($3.2 million) which will fund the last year of the three year pay plan adjustment and 12 new positions.
Also, the budget addressed the possible impact of an increase in the property tax exemption through a property tax reform referendum.
To offset the recurring $7.2 million in lost revenue in FY 2020, if the referendum passes, the Board approved a long term fiscal plan that will increase the millage rate by 0.4 mills, which would increase property tax revenue by $5.8 million.
Also, the Board would work with the City of Tallahassee to phase out the Downtown CRA by FY 2020 saving approximately $1.4 million.
There was no discussion about the “found revenues” through increased property values in 2020.