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Good news for Tampa’s budget: property tax revenue higher than expected

The Hillsborough County Property Appraiser delivered an update this week, delivering nearly $1 million more to municipal coffers.
 
Tampa City Hall 3/2018, historic and modern.
Tampa City Hall 3/2018, historic and modern.
Published June 28, 2018

Tampa's budget hole just got a little smaller.

The Hillsborough County Property Appraiser's office provided the city with updated property tax revenue figures this week, a boost of $937,406 over the original estimates.

The extra cash means more money due to the city's Community Renewal Areas, which will increase by $280,726.

The upshot?

Tampa has $656,680 more revenue than officials thought as Mayor Bob Buckhorn prepares his final budget for City Council approval, according to the city's chief financial officer, Sonya Little, who said the city received the good news on Tuesday.

The city's projected deficit will dip from $5 million to about $4.3 million. The city's total revenues will top $456 million in the general fund and nearly $1 billion overall.

Buckhorn has said the city's budget won't have any shiny projects this year. Nor will he ask for a property tax increase or borrow from reserves.

He'll deliver his budget to council members on July 19.