How nixing property taxes could affect Hillsborough County
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Hillsborough County may have to consider layoffs, service cuts and new taxes if voters approve the state's sweeping property tax overhaul.
Why it matters: The county would lose an estimated $367 million in annual property tax revenue, money that had primarily gone toward the sheriff's office, fire rescue, transportation, emergency management and parks.
- County officials are prioritizing public safety and infrastructure, which could mean reducing or eliminating other services residents rely on.
Driving the news: Commissioners asked staff earlier this month to examine how the property tax amendment could affect the county's budget.
- The report, released as part of Wednesday's agenda, shows the county may have to resort to drastic measures to offset the revenue losses.
Zoom in: Nonprofits that receive funding from the county — which include Crisis Center of Tampa Bay, the Museum of Science and Innovation (MOSI) and the Humane Society of Tampa Bay — could be cut off.
- County employees could face a compensation freeze for at least one year, if not longer, and the county would pause hiring and reduce its workforce.
- The county may have to dip into its reserves to absorb revenue loss over several years and consider new or increased taxes or fees, including an additional five-cent fuel tax and increased park fees.
- Parks, Aging, Children's Services and Pet Resources, among other services, may have to be reduced or eliminated, and some county properties and facilities would have to be sold.
Yes, but: No decisions have been made yet, and there's no telling whether the constitutional amendment will reach the 60% threshold needed to pass.
- Staff are only outlining options commissioners could consider as they try to preserve public safety, infrastructure and the county's financial stability.
What they're saying: Staff likened the potential losses in property tax revenue to the fiscal strain Hillsborough County faced during the Great Recession, but said the effects could last longer.
- "Difficult decisions would need to occur," the report reads. "Future budgets would be more difficult to balance, and... the county would struggle to keep up with the service demands of new growth."