Latest proposed Naples budget holds tax rate steady.
According to the latest proposed City of Naples budget, Paradise Coast taxpayers will not see an increase in their 2009 tax rate. They won’t see a tax break, either.
The City of Naples is going to their rollback rate. This means the city will generate the same total amount of money as it did in 2007-2008. However, by setting the 2009 taxes at the rollback rate, the city budget will be unbalanced, with the difference being provided through the reserve account. Naples City Manager, Bill Moss said the city will have to use $600,000 from the reserve account to balance out the difference of the $106 million budget.
In addition to using the reserve account, the Naples city staff, are also being asked to help bridge the gap in the budget. One of the major ways in which this is being accomplished, is the cutting of city staff positions. This year, the City of Naples will drop 32 staffed positions, saving about $2.3 million in salaries and benefits. These workers are being offered positions in other government jobs.
Naples is facing this $3 million deficit due to a decline in the overall value of Paradise Coast real estate and recent property tax legislation.
The first hearing to approve this budget is set for 5:05pm, Wednesday, September 3rd. The budget must be approved by the beginning of the city’s fiscal year, October 1st.
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