Palmetto finalizes $27 million budget, including a tax hike

With just a few days left in the fiscal year, Palmetto finalized on Tuesday its $27 million 2017-18 fiscal year budget, which begins Oct. 1.

Though the city’s millage rate stands as it did this past year at 5.9671, the city would have had to lower the rate by 5.52 percent in order for it not to be considered a tax increase, according to state statute. Property valuations rose citywide by 6.3 percent, increasing taxes at the existing millage rate. A mill is $1 for every $1,000 of appraised property value. The 2017-18 budget is 2.5 percent higher than the ending fiscal year.

As it is with most budget hearings, there was no public comment so commissioners quickly dispatched the business at hand with a unanimous vote. Property taxes fund the city’s general fund, which will be more than $11.3 million to cover general operating expenses, including salaries. The city currently has about 140 positions, which costs about 25 percent of the general fund.

The Palmetto Police Department’s budget is one of the largest covered by the general fund at $4.5 million.

Other capital expenses include several new vehicles and pieces of equipment with the police department receiving three new patrol cars with in-car video cameras for close to $100,000. The road and bridge department will receive a new street sweeper for $300,000 and another $60,000 for a mini-excavator, though that department and others are funded through various water and stormwater fees.

The total budget for road and bridge is a little more than $2 million, $2.1 million for solid waste and $6.5 million for water and sewer.

City Clerk Jim Freeman said general fund revenues can be used to cover capital expenditures, personnel costs, public safety and utility infrastructure within the city.

This story was originally published September 26, 2017 at 6:30 PM with the headline "Palmetto finalizes $27 million budget, including a tax hike."