ORLANDO, Fla. – Orlando Mayor Buddy Dyer on Monday unveiled his plans for the city budget, which include a property tax increase.
The mayor is proposing to raise the property tax rate by a dollar to $6.65 for $1,000 worth of taxable value.
A home valued at $250,000 with a homestead exemption paid $1,130 in city taxes in 2013. The proposed tax would result in a $200 increase, about $16 per month.
Dyer says the city needs the extra money to make up for a nearly $30 million shortfall.
$17 million reduction to general fund
"It will also allow us to correct the fundamental revenue and balance caused by property tax reform, and in so doing, ensure that we keep our government on strong footing and safeguard Orlando's future," Dyer said.
The Orlando City Council will discuss the proposal at a 2 p.m. meeting. A vote will likely be held in September.