Fill out this form to email this article to a friend
City prepares to be pinched
By LORRI HELFAND
Published June 12, 2007
LARGO - If state lawmakers this week go forward with their plans to roll back property tax rates, Largo would collect $1.6-million less in property taxes than it did this year. Still undetermined is how much more the city would lose if another legislative proposal to increase homestead exemptions is eventually approved by voters. The city's staff expects to have an analysis of the latest state proposals' possible impact on Largo government by Wednesday.. Two weeks ago, as lawmakers tinkered with tax-cut plans, Largo's staff presented city leaders with options that could save the city $6-million, about 10 percent of the planned 2007-08 general fund budget of $62-million. The city's original cost-reduction proposal would cut school resource officers, Sunday library hours and the equivalent of about 81 full-time positions. Hardest hit would be library services and recreation, parks and arts. Together, they could see $2.6-million in cuts. Largo management services director Kimball Adams said the city's initial projections appear in the right range, taking into account the rollback and various proposals for increasing homestead exemptions as well. The city's property tax revenues for 2006-07 are $17.8-million. The city had projected that property tax revenues for 2007-08 would be $19-million - meaning just the rate rollback would shave nearly $3-million in property tax revenues from next year's budget. Under the state proposal, local governments would be forced to cut property taxes between 3 and 9 percent below this year's collections. How much a government is forced to cut is linked to how much their coffers have swelled in the recent runup in property values. Largo is among local governments that have seen their collections increase the most. Under the plan, Largo would be required to cut 9 percent. Adams said no government should breathe a sigh of relief yet. "If anybody takes any of that preliminary information and starts feeling good about it, they're premature, " Adams said. Lorri Helfand can be reached at 445-4155 or lorri@sptimes.com. Fast Facts: Property tax collections 2006-07 Total: $17.8-million ESTIMATED 2007-08 Without legislative change: $19-million With 9 percent cut: $16.2-million
[Last modified June 11, 2007, 23:32:36]
Share your thoughts on this story
[an error occurred while processing this directive]
|
News
Fifty years ago, they were screwed-up kids sent to the Florida School for Boys to be straightened out. But now they are screwed-up men, scarred by the whippings they endured. Read the story and see a video and portrait gallery.
Print
Email story
Comment
Letter to the editor