PANAMA CITY, Fla. (WMBB) — After boosting water and sewer rates earlier this month, Panama City commissioners decided to give a break to property owners.
They voted to decrease the millage rate during Monday night’s final budget hearing. The rate is going from 4.999 to 4.899.
While the rate itself is dropping, commissioners said taxpayers won’t necessarily see their taxes go down.
Commissioner Josh Street said the drop in property taxes will help offset the increases in water and sewer rates.
He said the commission is trying to put residents’ money in the right places.
Mayor Greg Brudnicki claims this budget will provide money for more community improvement projects, like roads and infrastructure. They’ve allocated twice as much money for asphalt.
He also said the city is starting to receive money from the Florida Department of Economic Opportunity to fund additional projects.
“We had a lot of things that we wanted to get done in the city, and you can’t do it for free,” Mayor Brudnicki said. “We were still able to lower the millage rate and give people the appropriate raises that we needed to give to be able to keep them.”
Brudnicki said commissioners are excited about this budget providing the things residents have been requesting.
The new budget takes effect on Friday, October 1st, which is the beginning of the city’s fiscal year.