Pinellas County commissioners agreed Thursday to hold property tax rates steady for the upcoming 2016-17 fiscal year.
The agreement, made during a workshop, is not official. Commissioners will have to vote twice to finalize the tax rate for the fiscal year that begins Oct. 1. However, once they give the tax rate preliminary approval, it cannot be increased before the final vote. Commissioners could decrease the rate, but not increase it.
Under the agreement, the property tax rate would remain at about $6.25 per thousand dollars of assessed, taxable property value. That means the owner of a house valued at $150,000 with $50,000 in exemptions would pay about $625 for Pinellas County property taxes.
“No increase in the countywide millage rates is required to balance the budget and meet important needs and priorities,” county administrator Mark Woodard said in a budget letter to Pinellas commissioners.
But even if the tax rate remains steady, property owners will likely see taxes rise some because property values have gone up. This current year, the county brought in about $394.3 million from that tax rate. The county expects to get about $28.6 million, or 7.2 percent more next year, for a total of about $423 million from property taxes.
The total county budget proposed next year is about $2.1 billion. That’s about $127.3 million or 6.2 percent more than the current total spending plan.