Fort Lauderdale — Tax District Approved
The Fort Lauderdale Commission has approved a special tax district for the city's planned modern streetcar line and set a property tax levy to provide the revenue, the South Florida Sun-Sentinel reports. The initial $83 million, 1.4-mile segment is to start operation in 2016.
The goal of the tax is to raise $20.6 million of the $142.6 expected cost of the 2.7-mile route. If plans to finalize details of the tax are resolved as expected, the new assessment will appear on tax bills by autumn.
Nonprofits owning property in the taxing district will also be required to pay the tax.
The majority of residents who addressed the Commission spoke enthusiastically about the positive benefits the streetcar will bring.
Other sources of funding for the project include $67.7 million from the federal government, $35.7 million from the state, $10.5 million from the city and $8.4 million from the Broward Metropolitan Planning Organization.