Friday, October 10, 2003

Palmetto's millage staying the same

By LINDSAY BIANCHI
Special to The Citizen

If you haven't added onto your house or seen an increase increased in your assessment in Palmetto, then you can expect to pay the same amount of property tax that you paid last year. Otherwise you may want to start saving your spare change.

An increase in the city's total real estate value from just over $53 million in 2002 to $71 million in 2003 requires that the Board of Tax Assessors conduct a reassessment, said city administrator Bill Shell. Residential and commercial growth in the past year have combined to bring up the total value.

Shell said generally what happens in this case is the setting of a new millage rate which produces the same revenue numbers as the previous year. Often times the mills are set lower to achieve this balance referred to as a rollback millage rate. This keeps property taxes the same from year to year.

However with the new budget that the city has adopted, it has been found necessary to leave the millage rate at 4.5 mills, the same as last year's. Shell said homeowners and business owners in Palmetto property taxes will only increase for those who have made significant improvements and upped the value of their homes and shops.

Public hearings will be held at the Palmetto City Hall on October 16 at 11 a.m. and 6 p.m. and on November 3 at 7:30 PM to answer questions and hear comments concerning the tax rate.