This week, Mayor Ashton Hayward is asking the Pensacola City Council to approve the property tax millage for FY 2017 be set at 4.2895, the same as it has been for the last five years.
The preliminary taxable value for real and personal property is up slightly, 4.19 percent, so the property revenues, even if the rate stays the same, will increase by $776,200.
Later today, Mayor Hayward is expected to release his proposed budget for FY 2017. Escambia County posted its proposed budget on its website on July 1.
The valuation of city property has rebounded considerably over the past four years, nearly returning to the high of FY 2008 $3.368 billion. The low point of the last nine years was FY 2013 $2.907 billion.
The preliminary taxable value for real and personal property $3.321 billion is an increase of $138 million, the largest increase since FY 2007 with the value jumped $620 million for $2.62 to $3.24 billion.
(values in millions)
FY 2008 $3,368
FY 2009 $3,190
FY 2010 $3,096
FY 2011 $3,018
FY 2012 $2,967
FY 2013 $2,907
FY 2014 $2,942
FY 2015 $3,067
FY 2016 $3,183
FY 2017 $3,321