Many of you are aware that we were following Senate Bill 1021 last week and due to a technical issue the bill was pulled prior to the hearing. Yesterday a new bill was printed that is replacing 1021, this new bill is Senate Bill 1048. We don’t know when a hearing will take place, but it could happen as soon as next week. It is important for you to take this bill and sit down with either your fire commissioners or city administrator/Mayor and determine what the financial impact could be to your agency and what it could do to your level of service delivery. For many of our members any property tax reform will have a direct impact on your budget and we all know that will impact service delivery.
The reader’s digest version of the bill and changes made is that no taxing district will be able to increase its budget by more than 4% ( which includes new construction and annexations ) without voter approval.
You can also go to this link to see the bill.