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New Port Richey to hold tax rate
A 19 percent increase in the value of property in the city means the tax rate can stay at 7 mills for the fourth year.
By JODIE TILLMAN
Published July 6, 2006
NEW PORT RICHEY - City residents would see their tax rate stay the same under a proposed $55.7-million budget. Officials say they can keep the tax rate of $7 per $1,000 of assessed property steady because the value of land in the city has increased by almost 21 percent in the last year. The tax base is now about $850-million. Like other cities in Florida, New Port Richey has experienced a steady increase in its tax base in recent years after a long period of flat growth in property values downtown. City finance director Rick Snyder said he could remember years when property values actually decreased. This would be the fourth year the rate has stayed at 7 mills. For the owner of a $150,000 house who takes the $25,000 homestead exemption, the city taxes would be $875. Among some of the big-ticket items in the proposed budget are construction of a $7.4-million public works facility and improvement projects at James E. Grey Preserve totaling about $435,000. City staffers were putting the finishing touches on the draft budget Wednesday afternoon. Copies are available to the public at the New Port Richey library, city clerk's office and city manager's office. City Manager Scott Miller presented the budget to the City Council Wednesday evening. The first budget work review session is scheduled July 18, from 4:30 p.m. to 6:15 p.m., at City Hall. Two additional sessions run from 6 to 9 p.m. on July 19 and July 20. Public hearings on the budget and proposed tax rate are tentatively scheduled for Sept. 5 and Sept. 30. The budget year starts Oct. 1. The city has eight funds that make up the total proposed $55.7-million figure. The largest increase, from $1.9-million this year to $3.4-million proposed next year, is in the capital improvement fund, which pays for new facilities and equipment. Jodie Tillman can be reached at 727 869-6247 or jtillman@sptimes.com.
[Last modified July 5, 2006, 22:50:06]
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