On Thursday, Aug. 3, Tampa Mayor Jane Castor presented her plan for fiscal year 2024 to City Council. We’re diving into the proposed $1.92 billion dollar budget, including how it will prioritize infrastructure, where the money will come from, and the next steps that will continue to shape 2024’s budget.
What will be funded
About $45 million would fund transportation, public safety, parks, and housing efforts. Here’s a closer look at those projects:
- Roads and sidewalks will be a major priority — 40% of Tampa roads are in poor condition, and 1,300+ miles of gaps exist in city sidewalks.
- The proposed budget calls for a $17.8 million transportation budget next fiscal year, with plans for it to go up to $22.5 million by fiscal year 2028.
- Currently, the City can take on 30 neighborhood repaving projects every five years; the new budget would allow for 100 neighborhoods to see repaving projects instead.
- As for housing, $5.5 million would go towards homeless and vulnerable renters.
“The public is demanding that we start tackling these challenges head-on,” Mayor Castor said to City Council during this week’s meeting. Also appearing in her presentation on road and sidewalk repair: “These are needs, not wants.”
A millage rate increase
In order to deliver on these priorities, the city would increase millage rates (think: property taxes). An increase of one point was proposed, which would raise Tampa’s millage rate to 7.2076. Homeowners would pay an extra ~$19.21 a month on average, all adding up to an estimated $45 million more for the city.
Next steps
Expect negotiations and different versions of the budget before it’s finalized in October. First up: a budget workshop scheduled for Monday, August 14.
