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.