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Port Richey bumps up tentative tax rate to keep spending even

PORT RICHEY — City Council on Tuesday night unanimously set its tentative millage rate for next year at 4.2 mills, or about $4.20 in tax for every $1,000 in taxable property.

The rate is up from the current rate of 3.9 mills, but it would generate about the same amount of revenue as this past year's rate because property values have fallen.

The 4.2 millage would generate about $1,285,796 in property taxes next year. If officials held the rate at 3.9 mills, they would collect about $100,000 less.

The city will hold budget hearings in the coming weeks before voting on the budget for the next fiscal year, which begins Oct. 1.

Port Richey bumps up tentative tax rate to keep spending even 07/28/09 [Last modified: Tuesday, July 28, 2009 10:17pm]
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