City leaders in Boca Raton were briefed on Tuesday on the potential impact of property tax reform in Florida.
“In two years, it’s going to be a $16 million, almost $17 million, annual reduction, and that’s significant,” Mayor Andy Thompson told WPTV.
Property Tax Reform Could Cut Boca Raton Budget by Nearly $17M Annually
Deputy City Manager James Zervis made his presentation during a council workshop.
He outlined how two random homes in the city would likely see a reduction of property taxes of around $2,000 a year. However, revenues for the city would drop $8.14 million in the first year and $16.7 million in the second year…