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Largo budget staff recommend planning for 5% property-tax growth, warn of cuts under lower scenarios
Summary
Budget staff presented FY27 revenue scenarios showing required spending reductions tied to property-tax growth (approx. $500K at 5% growth, $2M at 2%, $3M at 0%) and recommended planning on a conservative 5% assumption while identifying April–May work sessions and a Sept. 3 public hearing for the proposed budget and CIP.
City budget staff told commissioners at the Feb. 10 work session that the FY27 budget calendar includes additional work sessions (April and June), an April capital improvement presentation, and a May joint Finance Advisory Board review leading to a May 19 capital adoption and a Sept. 3 public hearing for the proposed tax rate.
The presenter reviewed draft FY25 actuals versus the adopted budget across multiple funds and said general-fund recurring structural imbalances had narrowed (the adopted budget initially planned nearly $9…
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