Riviera Beach holds the line on its tax rate

RIVIERA BEACH The city council voted 4-1 tonight to hold the tax rate at $8.43 per $1,000 taxable value instead of raising it by 50 cents as recommended by the city manager.

The decision, along with the council's Wednesday decision not to vote on a new franchise agreement with FP&L that would have brought in $1 million, leaves a $2.3 million shortfall in the budget for the year that begins Oct. 1.

The council plans to dip into reserves to cover $1 million of the shortfall and get another $1.3 million through an agreement with the Community Redevelopment Agency.

The council plans to replace the $1 million borrowed from reserves when the FP&L franchise agreement is approved. Councilwoman Judy Davis voted against the tax rate because she did not favor dipping further into reserves.

The final budget hearing is set for 7 p.m. Sept. 16.