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New Port Richey's budget increases
The city's 2005-06 budget is 40 percent heftier than last year's, thanks in part to rising real estate costs.
By PHIL DAVIS
Published September 13, 2005
NEW PORT RICHEY - The City Council gave unanimous preliminary approval Monday night to a hefty $45.7-million budget that includes almost $9-million in construction projects, several new employees and no new property taxes.
The 2005-06 budget, which begins with the fiscal year Oct. 1, represents a 40 percent increase over the current $32.6-million budget.
"We've done the work," council member Marilyn deChant said. "It looks like it's all set."
The council also gave the first of two required approvals to keep the city's property tax rate at 7 mills. A mill is equal to $1 for every $1,000 in taxable value. After deducting the $25,000 homestead exemption, a home valued at $125,000 generates about $700 in tax revenue.
Final votes on the budget and the tax rate are set for Sept. 23 at 7 p.m.
Rising real estate costs were among the factors that boosted the 2005-06 budget. The city's Community Redevelopment Agency fund, which gets most property tax dollars, swelled from the current $7.7-million to $17.5-million for the coming fiscal year.
The Penny for Pasco tax also made its debut in the city budget, adding $1.4-million to the capital improvement fund. Grants accounted for another $875,000 in improvement funds, City Manager Scott Miller said.
Among the major projects planned for the coming year is a new $600,000 public works complex. Another $610,000 will go toward improvements at the James E. Grey preserve east of the city.
The city's general fund will increase 13 percent to roughly $14-million. The general fund, which pays for services such as police, fire and the library, suffered in recent years as property taxes were diverted to redevelopment efforts.
Miller plans to add three community police officers and two code enforcement officers to the city payroll. The fire department will replace three firefighters lost to attrition in past budget crunches.
According to the budget, the city will employ about 221 people in the coming fiscal year, up from the current 208 employees.
[Last modified September 13, 2005, 01:46:17]
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