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Lower property values mean less money for New Port Richey

New Port Richey

Lower property values mean less city money

If the city keeps the same property tax rate next year, it expects to take a nearly $966,000 hit because of a reduction in property values. And that means cuts — greater than 10 percent — in personnel, programs and operating hours for the parks and recreation department and the library, according to a memo that City Manager Tom O'Neill sent to City Council. City officials base their calculations on new information from the Pasco County Appraiser's Office, which anticipates an 18.5 percent reduction in taxable values within the city. To keep the same level of revenue, the city would have to increase the millage rate from the current 6.6 mills to 8.1 mills, says finance director Rick Snyder. A mill is $1 of tax for every $1,000 in taxable property. Council members will take up the news at a work session scheduled for Tuesday, immediately following the 7 p.m. Community Redevelopment Agency's meeting. O'Neill said he'll be looking for direction on whether there are any services the city should consider reducing or eliminating. He'll also want to know whether the council wants to raise the tax rate. He said he'll use the feedback as administrators put together next year's proposed budget. The council meets at City Hall, 5919 Main St.

Pasco deaths

Detailed obituaries are published in Section B.

Lower property values mean less money for New Port Richey 02/06/09 [Last modified: Friday, February 6, 2009 9:52pm]
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