Commissioner Murman quoted in this Tampa Tribune article on the Port:
BUSINESS NEWS
Tampa Port Authority drops millage rate
By Yvette C. Hammett | Tribune Staff
Published: July 21, 2015
TAMPA — The Tampa Port Authority plans to collect about $1 million less in taxes in fiscal year 2016, dropping its portion of the average property tax bill by $1.
If the drop in taxes receives final approval in September, the owner of a $150,000 house with a $50,000 homestead exemption would pay $15.50 in taxes to support Port Tampa Bay.
The drop in the millage rate is part of a continued effort at the port to be less dependent on tax money and lean more on revenues brought in by the various companies that do business at Port Tampa Bay, said Chief Financial Officer Mike Macaluso. This is the 21st year in a row the port has dropped its millage rate.
The millage rate — in this case 0.155 — is the tax rate per $1,000 of assessed property value. That rate is multiplied by the total taxable value of the property to arrive at the property taxes due.
“This is half of what we could levy,” according to state rules, said Tampa Port Authority Vice Chairman Carl Lindell.
The drop in the port’s tax rate won’t necessarily mean homeowners will pay less in property taxes next year, however, since for the third year in a row, overall property values are up.
The Hillsborough County Property Appraiser’s office announced Tuesday that property values are up 7.7 percent, an increase of about $5.3 billion in the county.
Still port commissioners said Tuesday they are happy to be able to offer a true tax savings.
“Since I’ve been on the board, I’ve advocated for reducing millage and becoming less dependent” on tax money, said Hillsborough County Commission Chair Sandy Murman, a member of the Tampa Port Authority board. “We are very fiscally responsible, yet maintaining an aggressive capital program. It’s a great story to tell.”
Port Tampa Bay uses its tax money only for capital improvements at the port that benefit the public, Macaluso said. For example, it won’t build a berth for one specific company, but would spend tax money to construct a new berth that could be used by any of its tenants or customers.
This year, Macaluso said, the port will collect approximately $11.2 million in property taxes. That amount would drop to about $10.9 million in fiscal year 2016 if the cut goes through.
The Tampa Port Authority has scheduled two public hearings on its budget for Sept. 9 at 5 p.m. and Sept. 22 at 5 p.m., at which time it will finalize the budget and the millage rate. Both meetings will take place at the Tampa Port Authority board room, 1101 Channelside Drive, Tampa.
