PUNTA GORDA — To make up for a
3.8 percent drop in property values — and to keep up with rising employee costs, the City Council on Wednesday unanimously adopted a tentative millage rate that’s
18 percent higher than the city’s current rate.
Under state Truth in Millage laws, the council can reduce but not increase the tentative rate at budget hearings in September. The proposed rate amounts to 3.2462 mills, which is up a half-mill from the current rate of 2.7462. A mill equates to $1 in taxes on every $1,000 of a property’s taxable value.
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