Pasco County commissioners are scheduled to set a preliminary property tax rate, known as a millage rate, at their July 11 meeting in Dade City.
The meeting starts at 10 a.m., at the Pasco County Historic Courthouse, at 37918 Meridian Ave.
The rate determines how much revenue the county can collect in property taxes for fiscal year 2018.
That information must be provided to the Pasco County Property Appraiser’s Office in time to print and mail out annual TRIM (Truth-in-Millage) notices in August to property owners.
At a June 13 workshop, county commissioners looked at a proposed 2018 budget presented by Pasco County Administrator Dan Biles.
The approximately $1.3 billion budget fell short of meeting commissioners’ objectives.
They agreed to a list of new budget items, including restoration of library hours, upgrades at some parks, new ambulance purchases, and a third-year of promised salary increases to Pasco County deputies.
To cover expenses, commissioners chose to use about $7.6 million in reserve funds while maintaining the current millage rate.
A mill equals $1 in taxes per $1,000 in taxable value.
For example, a property owner would pay $100 in taxes based on a 1 mill rate and property with a $100,000 taxable value. In calculating the taxable value, the county applies qualifying deductions and exemptions.
For the general fund, the millage rate currently is about $7.60 per $1,000 of property value. For the fire district, the rate is about $1.80 per $1,000.
Some property owners still could see small increases in their taxes based on a 2.1 percent increase in overall property values.
Two public hearings must be held before a final vote on the 2018 budget, and the millage rate, in September. The fiscal year begins on Oct. 1.
Once county commissioners give initial approval to the millage rate, it can’t be increased prior to the final budget vote. Commissioners could, however, choose to decrease the rate.
Published July 5, 2017
