Largo's proposed city budget has been cut for the sixth year in a row, but property taxes will most likely go up slightly. This is because the city is collecting less money with lower property tax values and other revenue sources decreasing.
The proposed budget of $137,994,900 passed first reading on Sept. 4. If the budget passes on the second and final reading on Sept. 20, then the new budget starts on Oct. 1.
What does this mean for property owners in Largo? If the proposed 7.3 percent property tax increase passes, with a homesteaded property with an assessed value of $221,399 would pay $105 more in city taxes next year.
Find out what's happening in Largofor free with the latest updates from Patch.
Here are some of the highlights of the proposed budget:
- Stormwater rates will go up to $5.32 from $4.45 for single family homes
- 7.3 percent property tax increase
- Increase in some ticket, rental and recreation fees
- Business taxes will go up three percent
- The city will keep its economic development division
- About 22 city positions will be eliminated (most of the positions are not currently filled)
- There will be no city employee raises, although they will get 32 hours of personal time
Find out what's happening in Largofor free with the latest updates from Patch.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.