Florida village taxes to increase 12.5 percent

Florida — Village of Florida residents will see a 12.5 percent increase in their general fund taxes this fiscal year, as the village board passed a $2,328,792.50 budget Tuesday night. That amount is up 19 percent from last year’s budget. Taxes in the village will increase to $29.60 per $1,000 of assessed value, up from $26.31 a year ago. Utilities, contractual obligations and insurance costs are cited as the reasons for the increases. An average home assessed at $40,000 in the village will pay $1,184 in village taxes for the 2007-08 fiscal year. The good news for village residents is there is no increase in the water budget of $666,925. Village water rates will remain at $78 per 30,000 gallons. The sewer budget also increased to $502,775, up from $490,175 last year.