Palm Coast Mayor Norris Calls for 'Austerity Budget' as Council Grapples with Downturn and Homestead Upheaval Ahead

Palm Coast Mayor Norris Calls for 'Austerity Budget' as Council Grapples with Downturn and Homestead Upheaval Ahead

Palm Coast City Council members will consider an austerity budget resolution to prepare for sharp revenue losses from a proposed Florida homestead exemption amendment and this year's slight downturn in property values. Existing city property values dropped over one percent, prompting discussions of a potential hiring freeze. Residential properties generate 90 percent of local tax revenue. Construction growth is generating enough revenue to keep …