Newspaper article The Florida Times Union

Tentative Property Tax Rate Is Set; Clay Commission Sets It 5.4 Percent Higher Than Now

Newspaper article The Florida Times Union

Tentative Property Tax Rate Is Set; Clay Commission Sets It 5.4 Percent Higher Than Now

Article excerpt

Byline: Beth Reese Cravey

The Clay County Commission set a tentative property tax rate for 2011-12 that is 5.4 percent higher than the current rate, but is expected to bring in less money because of dropping property values.

At its July 26 meeting, the commission set the tentative tax rate at $7.85 for every $1,000 of assessed value; the current rate is $7.45. The final rate, to be set in September, can be lower but not higher than the tentative rate.

"This is the maximum," County Manager Stephanie Kopelousos told commissioners at the meeting.

She recommended the $7.85 rate, which she said will bring in less revenue than the current rate. A rate of $7.97 would be necessary to bring in as much property tax revenue for 2011-12 as the $7.45 rate produced for 2010-11, she said.

"This is the fourth year in a row that taxable property values have gone down," she said.

As a result, Kopelousos proposed a 2011-12 budget that has almost 28 percent less spending than the current year. …

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