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Oldsmar holds tax rates steady next year

For the ninth straight year, city property tax rates would remain the same under a budget proposed by City Manager Bruce Haddock.

Haddock is proposing a $13.3-million budget for fiscal 1996-97, which begins Oct. 1. The proposal represents a 10.6 percent decrease from last year's budget.

The city's property tax rate would remain unchanged at 4.75 mills, the same property tax rate since 1988.

Under the proposed tax rate, the owner of a home assessed at $65,000 with a homestead exemption of $25,000 would pay city property taxes of $190.

"It's a pretty straightforward budget," Assistant City Manager Marnie Burns said. "Nothing you would call exciting."

The proposal includes a number of improvements, including the completion of Phase II of Canal Park, street paving, drainage improvements and the acquisition of land for a new fire station.

The proposed $1.6-million decrease in spending is a result of the completion of several projects, including the paving of Lafayette Boulevard.

Some of the new projects will be financed in part by reserves.

"We are using reserves that we've built up over the years," Burns said. "We've built them up to a good level and it's appropriate sometimes to use them.

"We think in our proposed budget, it's appropriate to use them in these projects," he said.

Growth in Oldsmar has contributed to an increase in property values for the second year in a row, Burns said. The tax base increased by 4.2 percent this year.

"We had three tough years prior to that," Burns said, when property values decreased.

The City Council will hold workshops on the budget at 7 p.m. Aug. 21 and Aug. 27. Public hearings will be Sept. 3 and 17.

The council is expected to adopt the budget Sept. 17.

Figuring

your taxes

Oldsmar is proposing a 1996-97 tax rate of 4.75 mills, the same as this year. A mill is equal to $1 for every $1,000 of assessed, taxable property value. To determine your city taxes, take the assessed value of your home and subtract the $25,000 homestead exemption if you qualify. Divide that number by 1,000 and multiply by 4.75.

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