Commentary: Steve Warmowski - Should Jacksonville hold line on property taxes?
Steve Warmowski
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At the last City Council meeting, the council was asked to increase the property tax levy for 2020. At previous City Council meetings, following discussions with the city’s administration, Finance Committee Chair Don Cook said the City Council needed to raise property taxes to make additional payments to the city’s police pension and fire pension funds.
The additional payments are required by the state, because the city has not contributed enough money to meet promised payments and invest for future pension benefits. The state is requiring the city of Jacksonville to make additional payments to these police and fire funds each year, every year, for the next 20 years, so that 90% of the promised benefits will be invested by 2040.