Per the FL Times Union....
http://jacksonville.com/news/2015-06-01/story/property-values-tax-revenue-expected-increase-next-year-according-property (http://jacksonville.com/news/2015-06-01/story/property-values-tax-revenue-expected-increase-next-year-according-property)
QuoteProperty values, tax revenue expected to increase next year, according to Property Appraiser's office
By Christopher Hong Mon, Jun 1, 2015 @ 5:54 pm | updated Tue, Jun 2, 2015 @ 6:22 am
Rising property values and more than $726 million in new construction will give the city's budget a slight boost next year, according to estimates from Duval County Property Appraiser Jim Overton.
The figures predict the city's property values will rise by 4.6 percent, the second straight increase that bucks a trend of steady declines that began in 2009.
The Property Appraiser's office predicts the city will collect roughly $532.1 million in property taxes next year, compared to the $510 million included in last year's budget. The city's total taxable property value is predicted to hit $52.2 billion, compared to $49.9 billion last year.
If the predictions hold true, incoming Mayor Lenny Curry will have an additional $22 million compared to last year as he crafts his first budget. Curry must submit the budget to the City Council next month, and the council must pass it by the end of September.
While Curry has yet to lay out a spending plan for next year, he pledged on the campaign trail to hire 147 new police officers and restore funding to Jacksonville Journey, a youth-focused program aimed at reducing crime.
But any discretionary spending increases aside, the city will likely add millions of dollars to its fixed costs, like payments to its floundering police and fire pension fund.
Glenn Hansen, the city's budget director, said the increased property values and thriving new construction are a clear sign that the economy is improving.
While Mayor Alvin Brown's team won't be calling the shots during this summer's budget talks, Hansen was quick to credit Brown for the uptick in property values – which mirrors a statewide increase — and said he expects it to continue.
"I have to admit, I'm a little envious living in an environment with increasing revenues when we had significant decreases," Hansen said, referring to the first three years of Brown's administration that saw property values sink. "I think it's an indication that the polices we've been working on have started bearing fruit."
At least some of the revenue increase will be offset by rising costs, Hansen said. The yearly required payments to the city's three pension funds will increase by $7 million. The city's electric bill is expected to rise $2.3 million, and its payments to its workers' compensation fund are expected to increase by $4 million.
Hansen also said that city departments have asked for a combined $19 million in budget increases, although it's yet to be seen how Curry will respond to those requests.
In addition to any spending increases proposed by Curry, the City Council could also add its own as it works toward passing the budget.
There's been talk of bolstering capital improvement spending, like city vehicle purchases and infrastructure maintenance, after years of anemic funding. There's also a pension reform deal pending before council that, if passed, could potentially require the city to put an additional $5 million toward its pension debt beyond its yearly required payment.
The growth in property values was driven by a $100 million increase in new construction. While existing property values also increased, taxes on any homesteaded properties will be restricted to grow by .8 percent this year.
This year's growth is similar to the increased tax collection predicted last June. At that time, the Property Appraiser's office estimated a $19 million bump in property tax collections, which is the single largest source of funding for city services. That yearly increase grew to $23 million by the time the council passed the budget in September after the appraisers ran an updated analysis of city properties.
How does the city's electric bill go up by 2.3 million in a year? New buildings? New fleet of electric cars?
QuoteHow does the city's electric bill go up by 2.3 million in a year? New buildings? New fleet of electric cars?
Was their a rate increase? That would explain it. How much of a percentage does $2.3mm represent?
Quote from: mtraininjax on June 02, 2015, 08:35:45 AM
Per the FL Times Union....
http://jacksonville.com/news/2015-06-01/story/property-values-tax-revenue-expected-increase-next-year-according-property (http://jacksonville.com/news/2015-06-01/story/property-values-tax-revenue-expected-increase-next-year-according-property)
QuoteProperty values, tax revenue expected to increase next year, according to Property Appraiser's office
By Christopher Hong Mon, Jun 1, 2015 @ 5:54 pm | updated Tue, Jun 2, 2015 @ 6:22 am
Rising property values and more than $726 million in new construction will give the city's budget a slight boost next year, according to estimates from Duval County Property Appraiser Jim Overton.
The figures predict the city's property values will rise by 4.6 percent, the second straight increase that bucks a trend of steady declines that began in 2009.
The Property Appraiser's office predicts the city will collect roughly $532.1 million in property taxes next year, compared to the $510 million included in last year's budget. The city's total taxable property value is predicted to hit $52.2 billion, compared to $49.9 billion last year.
If the predictions hold true, incoming Mayor Lenny Curry will have an additional $22 million compared to last year as he crafts his first budget. Curry must submit the budget to the City Council next month, and the council must pass it by the end of September.
While Curry has yet to lay out a spending plan for next year, he pledged on the campaign trail to hire 147 new police officers and restore funding to Jacksonville Journey, a youth-focused program aimed at reducing crime.
But any discretionary spending increases aside, the city will likely add millions of dollars to its fixed costs, like payments to its floundering police and fire pension fund.
Glenn Hansen, the city's budget director, said the increased property values and thriving new construction are a clear sign that the economy is improving.
While Mayor Alvin Brown's team won't be calling the shots during this summer's budget talks, Hansen was quick to credit Brown for the uptick in property values – which mirrors a statewide increase — and said he expects it to continue.
"I have to admit, I'm a little envious living in an environment with increasing revenues when we had significant decreases," Hansen said, referring to the first three years of Brown's administration that saw property values sink. "I think it's an indication that the polices we've been working on have started bearing fruit."
At least some of the revenue increase will be offset by rising costs, Hansen said. The yearly required payments to the city's three pension funds will increase by $7 million. The city's electric bill is expected to rise $2.3 million, and its payments to its workers' compensation fund are expected to increase by $4 million.
Hansen also said that city departments have asked for a combined $19 million in budget increases, although it's yet to be seen how Curry will respond to those requests.
In addition to any spending increases proposed by Curry, the City Council could also add its own as it works toward passing the budget.
There's been talk of bolstering capital improvement spending, like city vehicle purchases and infrastructure maintenance, after years of anemic funding. There's also a pension reform deal pending before council that, if passed, could potentially require the city to put an additional $5 million toward its pension debt beyond its yearly required payment.
The growth in property values was driven by a $100 million increase in new construction. While existing property values also increased, taxes on any homesteaded properties will be restricted to grow by .8 percent this year.
This year's growth is similar to the increased tax collection predicted last June. At that time, the Property Appraiser's office estimated a $19 million bump in property tax collections, which is the single largest source of funding for city services. That yearly increase grew to $23 million by the time the council passed the budget in September after the appraisers ran an updated analysis of city properties.
How does the city's electric bill go up by 2.3 million in a year? New buildings? New fleet of electric cars?
World's largest scoreboards is how that happens.
^Haha
Quote from: TheCat on June 02, 2015, 11:14:16 AM
Quote from: mtraininjax on June 02, 2015, 08:35:45 AM
Per the FL Times Union....
http://jacksonville.com/news/2015-06-01/story/property-values-tax-revenue-expected-increase-next-year-according-property (http://jacksonville.com/news/2015-06-01/story/property-values-tax-revenue-expected-increase-next-year-according-property)
QuoteProperty values, tax revenue expected to increase next year, according to Property Appraiser's office
By Christopher Hong Mon, Jun 1, 2015 @ 5:54 pm | updated Tue, Jun 2, 2015 @ 6:22 am
Rising property values and more than $726 million in new construction will give the city's budget a slight boost next year, according to estimates from Duval County Property Appraiser Jim Overton.
The figures predict the city's property values will rise by 4.6 percent, the second straight increase that bucks a trend of steady declines that began in 2009.
The Property Appraiser's office predicts the city will collect roughly $532.1 million in property taxes next year, compared to the $510 million included in last year's budget. The city's total taxable property value is predicted to hit $52.2 billion, compared to $49.9 billion last year.
If the predictions hold true, incoming Mayor Lenny Curry will have an additional $22 million compared to last year as he crafts his first budget. Curry must submit the budget to the City Council next month, and the council must pass it by the end of September.
While Curry has yet to lay out a spending plan for next year, he pledged on the campaign trail to hire 147 new police officers and restore funding to Jacksonville Journey, a youth-focused program aimed at reducing crime.
But any discretionary spending increases aside, the city will likely add millions of dollars to its fixed costs, like payments to its floundering police and fire pension fund.
Glenn Hansen, the city's budget director, said the increased property values and thriving new construction are a clear sign that the economy is improving.
While Mayor Alvin Brown's team won't be calling the shots during this summer's budget talks, Hansen was quick to credit Brown for the uptick in property values – which mirrors a statewide increase — and said he expects it to continue.
"I have to admit, I'm a little envious living in an environment with increasing revenues when we had significant decreases," Hansen said, referring to the first three years of Brown's administration that saw property values sink. "I think it's an indication that the polices we've been working on have started bearing fruit."
At least some of the revenue increase will be offset by rising costs, Hansen said. The yearly required payments to the city's three pension funds will increase by $7 million. The city's electric bill is expected to rise $2.3 million, and its payments to its workers' compensation fund are expected to increase by $4 million.
Hansen also said that city departments have asked for a combined $19 million in budget increases, although it's yet to be seen how Curry will respond to those requests.
In addition to any spending increases proposed by Curry, the City Council could also add its own as it works toward passing the budget.
There's been talk of bolstering capital improvement spending, like city vehicle purchases and infrastructure maintenance, after years of anemic funding. There's also a pension reform deal pending before council that, if passed, could potentially require the city to put an additional $5 million toward its pension debt beyond its yearly required payment.
The growth in property values was driven by a $100 million increase in new construction. While existing property values also increased, taxes on any homesteaded properties will be restricted to grow by .8 percent this year.
This year's growth is similar to the increased tax collection predicted last June. At that time, the Property Appraiser's office estimated a $19 million bump in property tax collections, which is the single largest source of funding for city services. That yearly increase grew to $23 million by the time the council passed the budget in September after the appraisers ran an updated analysis of city properties.
How does the city's electric bill go up by 2.3 million in a year? New buildings? New fleet of electric cars?
World's largest scoreboards is how that happens.
You may be on to something!
QuoteEverBank Field won't be hosting the Rolling Stones or Taylor Swift – at least this year. But it could host more soccer games, business conventions – even stadium weddings, broadcast on the world's largest video screen.
But lawmakers want to make sure the big screens don't carry hidden costs – which was exactly what happened last year.
According to Council Auditor Kirk Sherman, the massive video boards — 362 feet by 60 feet, powered by 35.5 million LED lamps — cost the city a whopping $500,000 in unanticipated electrical costs.
"Shame on us for not asking questions like: 'Will our electric bill go up?'" says City Councilman John Crescimbeni. "My assumption was we were probably going to have a slightly higher cost of consumption of electricity. [But] this was a geometric increase in consumption of electricity."
http://jacksonville.com/news/2015-06-16/story/city-council-cautious-everbank-scoreboard-cost
QuoteWorld's largest scoreboards is how that happens.
Yeah no kidding, another blown responsibility with the "I'm with Alvin" administration. Sure, give the Jags Cart Blanche to run the scoreboards all the time and then be on the hook for the bills. Shad Khan greased the wheels with Alvin and we drove that shaft home to all the tax payers. Nice one Alvin!
QuoteYeah, and I am sure Lenny will be SOOOOOOOOOOOOOO hard on the Jags and really get them off the corporate welfare teat. GTFO with that noise.
The worst part of the city bending over for the Jaguar shaft over the last 4 years, is that the Jags have Lamping who knows what the hell he is doing and how to get the most out of the City, who has been gladly bending the taxpayers over at the knees. The city always blinks, and its not like the NFL is a dying business.
(http://www.bitterrootbugle.com/wp-content/uploads/2015/02/nfl-welfare.jpg)