Belleair Beach Council Sets Rate of 2.08 Which is Expected to Go Downby Leo CoughlinBELLEAIR BEACH - The City Council set a millage rate of 2.08 at a meeting expressly held for just that purpose July 11. Even with that figure, once the budget is established, the millage rate Belleair Beach residents will pay is expected to be 1.98. Millage rates can always be lowered from the initial setting, but never raised. The 2.08 figure was in accordance with the Legislature's mandated 9 percent cut. But early estimates on the budget predict that a 1.98 millage rate will be sufficient to produce ad valorem funding. Last week's proceedings were in stark contrast to the situation a year ago when property values skyrocketed by almost 25 percent, giving the city a windfall of tax inflow. That is the situation that prevailed in Florida over the years of booming property prices. But with a fall-off in the housing market and restrictions imposed by the Legislature recently, the windfall days appear to be over. A year ago, the City Council set a 2.31 millage rate. Contrasted with this year's expected final 1.98 millage rate, there will be a 33 percent rate reduction. Last year's budgeting for the current fiscal year led to about a 20 percent increase in spending. That will not happen this year under the rules mandated by the Legislature. If voters adopt the referendums in January that increase exemptions, the available funds for the city will be even less. The council will be working on budget matters until September when figures are made final.
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