Jacksonville, FL (April 7, 2022) – Council Member Danny Becton announced today that he has filed Resolution 2022-276, encouraging Mayor Lenny Curry to submit a proposed Fiscal Year 2022/2023 budget to the Jacksonville City Council using a Rolled-Back Millage Rate for Ad Valorem Tax Revenues for next year’s budget.
“Today’s tax payers are being stretched thin, watching their household incomes shrink due to our nation’s highest recorded inflation rate on record, over the past 40 years at 7.9%”, Council Member Becton stated. “Our city is in great financial position to give our tax payers a break, this year with recent approval of increases in Gas Taxes, Sales Taxes, and an anticipated $171 million of ARP funding that will be provided from the federal government,” Council Member Becton added. “It is anticipated that most property owners will see a 3% increase (the cap) in property taxes due to the rise in home values and given that fact if there is a time to roll back our millage rate, I cannot image a time that would be any better than this year.” Council Member Becton concluded.
Over the next few months, the Mayor’s Office will be working with all city departments to finalize next year’s budget. In years prior, the mayor presents the budget, and only after presenting the budget does the City Council, the Legislative Branch, establish its fiscal policy of setting a millage rate for the annual TRIM notice. This process makes it difficult, if not impossible, to roll-back millions of dollars already appropriated within that proposed budget. By this resolution, it is the intention of Council Member Becton to have the roll-back conversation now, setting its fiscal policy, and if approved allowing the administration to work towards a balanced budget as recommended.
“Rolling-Back the millage rate does not mean no revenue increase to cover normal annual operating cost increases”, Council Member Becton explained. “If we had rolled-back last year’s budget, we would have received $19.3m from new construction, home sales, and non-ad valorem properties but saved $35m to the tax payers,” Council Member Becton explained. “In addition, the half-cent sales tax and other state shared revenues continue producing increases year over year in the millions of dollars, and let’s not forget the $171m from the federal government expected in June of 2022.”
For the Official Press Release and to View the Resolution As Filed, Please Download the Files Below: