At their first budget hearing on September 6th, the Windermere Town Council made some important decisions about the 2017-2018 fiscal year. They set a tentative millage rate and proposed budget for the year. The millage rate established was 3.25. It has been the same rate since 2015.
The millage rate is actually considered a tax increase because if Windermere would have taken a rollback rate, it would have gotten the same in property tax revenue due to a hike in property value. As a result, a homeowner of a house valued at $300,000 can expect to pay $975 on their property tax bill.
The tentative budget is $5.4 million. It is determined by estimates of future revenue and expenditures.
Windermere spends the most money on the police department ($1.97 million), the Parks and Recreation Department ($1.32 million) and the Public Works Department ($1.27 million).
Much of the decision-making process enacted by the Town Council is forward-thinking. The hope is that Windermere will be able to fund some future projects with the revenues generated.
There is only one funding project on the books for this upcoming year. A sidewalk is planned between Main and Sixth streets, with an extension to Lake Street.
There is a final budget meeting at the Windermere Town Hall on September 25th at 6 p.m. The council will discuss the reallocation of funds for other projects.