The Largo City Commission will take a look at preliminary budget and property tax possibilities at the July 10 workshop session.
The preliminary proposal shows a possible increase in property tax rates. The city commission still needs to review the proposed budget, so the final tax rate may change.
If the proposed 2.75 percent increase passed, here is how it could affect your taxes, based on a city report:
- A homesteaded property with an assessed value of about $83,025 would pay about $18 more in city taxes.
- A homesteaded property with an assessed value of $221,399 would pay $69 more in city taxes.
- A non-homesteaded property with an assessed value of $690,377 would pay $91 more in city taxes.
City Manager Norton Craig's
- July 10 - The formal budget presentation at the city commission workshop
- July 17- The City Commission establishes the maximum property tax rate
- August 17- City Commission budget review
- Sept. 4- City Commission First Public Hearing and Tentative Millage Rate and Budget
- Sept. 2- City Commission Second Public Hearing and Final Millage Rate and Budget
- Oct. 1- Fiscal Year 2013 begins