VERO BEACH — In a move that would bring in 38 percent more property tax dollars from Vero Beach residents than the current rate of taxation, the City Council voted 3-2 on Wednesday to set a tentative maximum tax rate to support $1.7 million more in spending on salaries, benefits, road paving and capital improvements.
The new property tax rate, if set at the maximum approved, would be $2.64 per $1,000 in taxable property value.
That’s up 61 cents from the current rate of $2.03, and up 73 cents from the “roll-back rate” of $1.91 per $1,000 value that Vero could charge to keep property tax revenues flat at the $4 million collected this year.
Property values went up by about 6 percent in the city over last year’s values.
The owner of a home in the Vero Beach city limits with a $200,000 taxable value after homestead exemption, under the maximum tax rate could expect to pay $122 more to the city in the coming year than last fall’s bill.
That’s on top of county, school board and other taxes, as Vero city taxes make up only about 10 percent of the total tax bill.
Mayor Dick Winger and Councilwoman Amelia Graves, who are both up for re-election in November, and Councilman Randy Old, voted for the major tax increase, with Vice Mayor Jay Kramer and Councilwoman Pilar Turner dissenting.
Two public hearings on the budget are set for 5:15 p.m. Sept. 3 and Sept. 15.
