Venice City Council is facing its toughest budget challenge in a decade, as discussions during the June 19 budget workshop highlighted the pressing need to roll back property taxes amid a softening economy. Council member Mr. Smith emphasized the urgency of the situation, noting the financial strain on seniors and homeowners due to rising taxes and fees.

Smith expressed his commitment to maintaining salary increases for city employees, including police and fire departments, while also proposing to move $5 million from reserves to support the budget. He pointed out that the city’s property assessments have nearly doubled over the past ten years, yet the tax rate remains higher than it was a decade ago. This has led to a requirement for the city to publish notices indicating an increase in property tax levies, despite a fractional decrease in the tax rate two years ago.

The council is now tasked with determining the rollback rate, which is crucial for ensuring that property tax revenue does not exceed the previous year’s figures. Preliminary estimates suggest a rollback rate of approximately 3.73, which would allow for revenue growth only from new construction, not from increased assessments on existing properties.

As the council navigates these financial challenges, the focus remains on balancing the budget while providing necessary services and relief to residents. The outcome of these discussions will significantly impact the community, particularly for those facing financial hardships.