Politics & Government
Increase in Property Values to Help City Budget
More than 2.5 million dollars will be generated in property taxes during next fiscal year.
Gulfport City Councilors unanimously approved a millage rate of 4.039 during Tuesday night's budget hearing at city hall.
The slight increase paired with a property value increase will generate more revenue for the city.
Property values in Gulfport increased this year by .92 percent or a total of $5,972,602 dollars.
The millage rate passed Tuesday night is a .76 percent increase from the current rate of 4.0087 mills.
The new rate will generate approximately $2,516,133 in revenue for the city.
During fiscal year 2012/2013, the city received $2,469,561.
Note: Vice Mayor Dan Liedkte was not in attendance. The council voted 4 to 0 to pass the ordinance during second reading.
Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.