06-06-2007, 07:47 PM
7 percent cut proposed for property taxes in Palm Beach County
By Josh Hafenbrack
Sun-Sentinel.com
Posted June 6 2007, 3:30 PM EDT
WEST PALM BEACH -- Reacting to property tax legislation expected to come from Tallahassee, Palm Beach County administrators on Wednesday proposed to cut countywide property taxes 7 percent -- a reversal from years of sharp spending increases.
The countywide tax rate would drop to $3.81 per $1,000 in assessed value, down from $4.28 this year. For the owner of a home with a $200,000 taxable value, the change would mean $94 in savings.
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Overall, the county would spend $640.4 million property taxes in 2008, compared to $668.6 million this year. Savings would come from across-the-board budget cuts to nearly every agecy except the Palm Beach Sheriff's Office.
County budget manager Richard Roberts said it's the largest tax decrease in recent history.
The Legislature gathers on Tuesday for a special session on property taxes, where they are to discuss legislation to roll back county and city spending levels and transform Florida's property tax system based on a super-sized homestead exemption.
In his budget, County Administrator Bob Weisman also outlined a second scenario: If the Legislature opts for tax cuts on a par with a propsal from Gov. Charlie Crist, the county would deepen spending cuts from 7 percent to 22 percent. Extra savings would be achieved by taking $50 million from reserve funds, $10 million from the sheriff's proposed $411 million budget and $43.6 million from deeper department cuts.
By Josh Hafenbrack
Sun-Sentinel.com
Posted June 6 2007, 3:30 PM EDT
WEST PALM BEACH -- Reacting to property tax legislation expected to come from Tallahassee, Palm Beach County administrators on Wednesday proposed to cut countywide property taxes 7 percent -- a reversal from years of sharp spending increases.
The countywide tax rate would drop to $3.81 per $1,000 in assessed value, down from $4.28 this year. For the owner of a home with a $200,000 taxable value, the change would mean $94 in savings.
LocalLinks
Overall, the county would spend $640.4 million property taxes in 2008, compared to $668.6 million this year. Savings would come from across-the-board budget cuts to nearly every agecy except the Palm Beach Sheriff's Office.
County budget manager Richard Roberts said it's the largest tax decrease in recent history.
The Legislature gathers on Tuesday for a special session on property taxes, where they are to discuss legislation to roll back county and city spending levels and transform Florida's property tax system based on a super-sized homestead exemption.
In his budget, County Administrator Bob Weisman also outlined a second scenario: If the Legislature opts for tax cuts on a par with a propsal from Gov. Charlie Crist, the county would deepen spending cuts from 7 percent to 22 percent. Extra savings would be achieved by taking $50 million from reserve funds, $10 million from the sheriff's proposed $411 million budget and $43.6 million from deeper department cuts.