Make us your home page
Instagram

Today’s top headlines delivered to you daily.

(View our Privacy Policy)

Hernando ponders what to do with unexpected tax windfall

BROOKSVILLE — The close of the fiscal year last week brought an unexpected surprise to Hernando County officials on Friday.

When the final tally of the county's taxable value arrived, it showed values that would generate approximately $1.39 million more for the general fund or $1.77 million for all funds than was originally expected.

While the additional revenue could be seen as giving the county a leg up on dealing with what is expected to be a revenue shortfall between $5 million and $7 million or more next year, there is another possibility.

When commissioners gather in an emergency meeting today, they will discuss whether to allow the property tax rate set last month to stay or to adopt a slightly lower rate.

The unusual question arises because when the taxable property value increases or decreases by more than 1 percent from the initial estimate, counties, cities, school districts and water management districts are allowed to adjust taxing rates accordingly.

Almost all of the county taxing authorities have seen property values increase by more than 3 percent from the first estimate in July.

If the county keeps the money that would be generated from the higher property values, it could help with next year's expected financial hardships, said commission Chairman John Druzbick.

If the commissioners instead want to lower the tax rate, it would be about a 0.2 mill reduction. For the owner of a home assessed at $150,000 with the $50,000 homestead exemption, that would mean a property tax savings of about $20.

The adjustment rule allows a county or other taxing authority only three days to decide what to do, and the county's decision is due at 5 p.m. Tuesday.

Property Appraiser Alvin Mazourek noted the tax roll isn't final until adjustments, if any, are made to property values by the Value Adjustment Board early next year. He warned there are a number of lawsuits and legal challenges by mining interests, which have challenged the value placed on their equipment affected by the stagnant construction industry.

Mazourek has warned the commission before that if those challenges go badly, the county could lose $1 million or more in tax revenues.

Barbara Behrendt can be reached at behrendt@sptimes.com or (352) 848-1434.

Hernando ponders what to do with unexpected tax windfall 10/04/10 [Last modified: Monday, October 4, 2010 10:00pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Tampa man crashes into parked cars, gate at the Islamic Society of Tampa Mosque

    Crime

    A Tampa man intentionally drove his pick-up truck into two parked vehicles before smashing through the locked gate of the Islamic Society of Tampa Mosque, according to the Hillsborough County Sheriff's Office.

    Shaun H. Urwiler, 42, was arrested July 16 for intentionally driving his pick-up truck into two parked vehicles before smashing through the locked gate of the Islamic Society of Tampa Mosque, according to the Hillsborough County Sheriff's Office. [Hillsborough County Sheriff's Office]
  2. USF hoops to play at Indiana in November

    Blogs

    The USF men's basketball team is set to get an early test from a Big Ten powerhouse in non-conference play next season.

  3. Last steel beam marks construction milestone for Tom and Mary James' museum

    Growth

    ST. PETERSBURG — Tom and Mary James on Wednesday signed their names to the last steel beam framing the 105-ton stone mesa that will be built at the entrance of the museum that bears their name: the James Museum of Western and Wildlife Art.

    The topping-out ceremony of the James Museum of Western & Wildlife Art was held Wednesday morning in downtown St. Petersburg. Mary James (from left), husband Tom and Mayor Rick Kriseman signed the final beam before it was put into place. When finished, the $55 million museum at 100 Central Ave. will hold up to 500 pieces of the couple's 3,000-piece art collection. [Courtesy of James Museum of Western & Wildlife Art]
  4. Florida's school grades improve as educators get the hang of a new system

    Testing

    Following a trend, Florida's school grades showed strong gains in the third year after the state changed its grading formula and the standardized tests that students take every year.

    After finding out earlier Wednesday that her school went from a low C to an A,  Bear Creek Elementary principal Willette Houston celebrates with her students in the YMCA After School program at the school in St. Petersburg. Houston is giving a high five to rising fifth grader Jonaven Viera. Rising 4th grader Jonathan Cafaro is in foreground with his back to camera. [CHERIE DIEZ   |   Times]
  5. Tampa Bay woman, 11-year-old boy had sex up to 20 times the year their baby was born, detectives say.

    Crime

    TAMPA — A woman sexually battered an 11-year-old Brandon boy, got pregnant and raised the baby for three years before a tip led to her arrest, Hillsborough County sheriff's officials said.

    Marissa Mowry, now 25,  had sex as many as 20 times in 2014 with a boy who was 11 when he impregnated her, Hillsborough County detectives allege. [Photo courtesy of Hillsborough County Sheriff’s Office]