BELLEAIR BEACH - Property values went up by about 25 percent (24.93 to be exact) in Belleair Beach in the current taxing season, and City Manager Reid Silverboard's tentative budget for fiscal year 2006-07 was approved Monday night by the City Council with a 2.31 millage rate.
The county's Tax Appraiser's Office came up with a $522,795,679 total valuation for the city, up $104,322,619 from last year.
When the figures are parsed, and they apply in a general overall way to the city as a whole, there will probably be an almost 20 percent increase in expenditures for the next budget year.
This is derived from available figures, issued by the city. Individual property owners will have different situations with some perhaps paying less money, on the bottom line, in city taxes next year.
A millage rate of 2.31, the figure recommended by Silverboard, is one-tenth of a mill less than last year's 2.41 rate.
But given the higher valuations, the smaller figure will generate almost $200,000 more revenue. Presumably that revenue will, for budget purposes, be spent.
Even with the small reduction in the millage rate, that figure still raises revenue that exceeds the rollback rate by 19 percent.
The rollback rate is that rate that would raise the same amount that was levied last year. The rollback rate is 1.939 mills.
Council members reviewed the figures supplied by Melanie Neuman, the city's Finance Officer. She also submitted a calendar of essential dates that must be met prior to completing the tax business for next year.
Actually, the millage rate could be lowered as a result of council discussion and action, but it cannot be raised.
A budget workshop will be held August 2-4 with the first public hearing on the millage rate, budget and capital expenditure plan scheduled August 28.
The final public hearing on the budget, which includes making the millage rate final, is set for September 11.
These hearings, amazingly, attract very few citizens.