Mayor Foster Proposes Tax Cuts, Employee Pay Increases for 2014

Mayor Bill Foster submitted Monday his fiscal year 2014 budget, which includes a reduction in the property tax rate, five new police officers and wage increase for St. Petersburg city employees. 

The $211,161,324 million budget, and proposed millage rate of 6.7700 mills, has to be formally adopted by city council in September. 

Foster, in a news release, said the FY14 budget is a reflection of the wishes of council, the public and input from budget forums. 

"I wish to thank residents who came out to the public budget forums and provided input, and groups such as the People's Budget Review who galvanized our citizenry," said Foster in a news release. "I also wish to thank our city's staff who spent many hours preparing department budgets and have held the line on spending this year to help me to deliver a balanced budget."

For the first time since the economic crash, the city raised millage rates for 2013 to 6.7742. Foster said 2014's proposed rate reduction is "important to our residents."

"It is important to show the taxpayers that the 'new normal' for our city budgeting is not to continue to collect more taxes every year just because property values increase," Foster said in his budget summary. "This slight reduction should be viewed as a down payment toward my commitment to reducing taxes in the future."

The possibility of a tax reduction comes in large part to unexpected property value increases.

According to Foster, the 2014 budget includes a 4.21 percent increase in property values. That increase will generate $3.1 million for the city.  

City documents show "the FY 2014 revenues are approximately $4.1 million higher than the projected Fiscal Year End (FYE) 2013 total revenues of $206,993,365."

The first public hearing for the proposed 2014 budget will be Sept. 12 at City Hall. The second will be held on Sept. 26. Both hearings begin at 6 p.m.