Face to face with a 17 percent decline in gross taxable property value, Parkland city officials are contemplating increasing the property tax rate during fiscal year 2010. City staffers are proposing a rollback rate of 4.15; the millage rate was 3.40 in 2009.
The city’s taxable property value fell from a little over $3.7 billion to a little under $3.1 billion, a direct result of the recession and the face that some of the homes in the city had Chinese drywall; no other city in the county has had to face such a drastic drop. Property taxes form a big chunk of the city’s sources of revenue – 63 percent. The loss in ad valorem revenue is $2,254,474. Unlike neighboring cities like Coral Springs, the city is not touching its reserve funds.
The city has $19,317, 770 in the general fund, compared to $19,525.539 in 2009. The city proposes to spend 52 percent on public safety and fire, 9 percent for culture and recreation, 17 percent for public works, and 6 percent for development services. The city’s library gets just 3 percent. Since 2007, the city’s budget has decreased by $2.7m, or 12.3 percent.
For additional revenue, the city is also increasing fire assessment fee to $195, from $151. The increase in special assessment revenue will be $258,759. The budget includes $4,000 for the Council for Aging, $4,000 for the city’s lobbyist, $3,500 for the education advisory board and $800 for Family Central. There is money in the budget to fund school resource officers in all schools within the city.