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Consultants tell Hillsborough board half‑penny sales tax, impact fees and borrowing shape capital capacity
Summary
At a June 24 workshop, financial advisers detailed the district’s major capital revenue streams (local capital-improvement millage, the half‑penny sales tax, Community Investment Tax share and impact fees), warned the half‑penny’s 2028 expiration could create a funding gap, and outlined pros and cons of pay-as-you-go funding vs. debt financing.
Consultants and district finance staff told the Hillsborough County School Board on June 24 that the district’s capital program rests primarily on four revenue streams — the local capital‑improvement millage, the half‑penny sales tax, the Community Investment Tax (CIT) and impact fees — and that each source has distinct limits and uncertainty.
John Ford of Ford and Associates, who led the revenue overview, said the district’s local capital‑improvement millage (the 1.5‑mill levy) is a substantial recurring source and that fiscal‑year 2025 receipts were estimated at roughly $263 million under the modeling assumptions used in the presentation. Ford said the half‑penny capital outlay surtax produced about $206 million in the…
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