Poll: Do You Support a Property Tax Increase?
Jacksonville political circles are buzzing today about a new plan to balance the city's budget that involves raising the property tax rate.
Mayor John Peyton will reveal the details of his proposal on Thursday, but the Florida Times-Union is reporting that the mayor will call for a 14% hike in the property tax rate. That would mean an increase from 8.4 mills to 9.6 mills.
The city faces a tight financial situation due to the recent economic downturn and sharp decrease in home prices, which translates directly into a decrease in property tax revenue. Supporters of the plan suggest that the only alternative would be further cutting away at vital city government services like police and fire protection.
The mayor's office won't comment on the specifics of their proposal until the official announcement on Thursday. But we want to know what you think...