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Expert outlines municipal revenue options and urges utility planning ahead of possible state tax changes
Summary
Ken Small, a municipal government expert, reviewed Lake Placid's revenue tools — property tax millage, municipal utility/public service tax, communication services tax, local business tax, user fees, special assessments and transfers — and flagged potential state constitutional amendments that could limit property tax options, urging the town to plan utility rates and transfers prudently.
At Lake Placid's strategic planning kickoff, municipal finance expert Ken Small reviewed the revenue options small Florida cities have to fund services and infrastructure and cautioned town leaders to plan for possible state changes to property tax rules.
Small summarized municipal revenue sources: "The Florida Constitution grants local government... the right to levy the property tax," and cities may levy up to 10 mills, with some options to exceed that by voter referendum.…
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