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Staff says current 5.9604 tax rate would generate about $36 million for Homestead City
Summary
A staff member told the council that keeping the city's tax rate at 5.9604 would yield roughly $36 million in property tax revenue, with about $32 million earmarked for the general fund and $3.8 million for "CRM." No vote or motion appears in the transcript excerpt.
A staff member, identified only as a staff member, told the Homestead City Council that keeping the city's tax rate at the current 5.9604 would generate about $36,000,000 in property tax revenue citywide.
"Same as the current, which is 5.9604. And at those rates that would generate citywide $36,000,000 in property tax revenues. That would be approximately $32,000,000 for the general fund and $3,800,000 for the CRM," the staff member said.
The statement provides a high-level allocation of the estimated property tax proceeds: roughly $32 million directed to the general fund and about $3.8 million to "CRM." The transcript excerpt does not define the abbreviation "CRM," and the meaning of that term was not specified in the provided text.
No formal motion, vote or ordinance language is recorded in the transcript excerpt supplied. The remark appears to be a revenue estimate presented as part of a budget- or tax-rate discussion; the excerpt does not show any formal action tied to the estimate.
