With little discussion, the Hollywood Commission agreed Thursday night that there would be no tax hikes or fee increases for next fiscal year.
The commission also approved a balanced budget that includes more money in the city’s rainy-day fund and more money for capital projects.
The proposed general fund — which pays for most of the city’s everyday spending, including salaries — is $176.million, about $10.1 million more than the current fiscal year’s. The majority of that $10.1 million went to accounts for the city’s now built-up reserves.
The budget also includes $500,000 in its pay-as-you-go fund for capital projects, an increase of $200,000 from this fiscal year.
The budget process for the 2012-13 fiscal year was much different than last this year when the city faced a $38 million budget deficit. City leaders said the difficult decisions made last year — including salary and benefit cuts — made it easier this year.
The commission set the proposed tax rate at $7.45 per $1,000 of taxable assessed property value. That means the owner of a home assessed at $200,000, taking the standard $50,000 homestead exemption, would pay $1,117.50 in city property taxes. County, school, hospital, and other taxing bodies’ levies are additional. The residential fire fee remained at $189.
The new budget year will begin Oct. 1.