TAMPA, Fla. — Hillsborough County commissioners have voted to move forward with placing a renewal of the Community Investment Tax on the ballot in November.
The half-cent tax would continue to raise hundreds of millions of dollars for county projects and schools.
The original Community Investment Tax, or CIT, was passed back in 1996 for a term of 30 years.
With its expiration rapidly approaching, commissioners want to put the proposed renewal before voters on this November's ballot.
Under the proposal reached Wednesday, that renewal would not last as long and the school board won't get nearly as much of a percentage as it had in the past.
Hillsborough County Commissioners seemed determined to reach a compromise.
“My position was zero, and I'm willing to come off that mark,” Commissioner Michael Owen said, referring to the amount he once said he thought Hillsborough’s public schools should receive.
While some had suggested the CIT renewal last no more than five years, those supporting a longer term argued it would provide certainty for projects and unforeseen emergencies.
“You need a term of at least 20 years to be bondable,” retired attorney Ron Weaver said. “To have a planning horizon in order to get the job done.”
Commissioners eventually compromised on 15 years.
They then tackled the question of what percentage of those funds the Hillsborough School Board would be allotted.
“Look, if I believed that throwing more money to the schools would solve the problems, I would do it. Trust me,” Owen said. “I would be the first one to do it. But history does not show that.”
Still, Owen agreed that without schools sharing in the CIT, the renewal referendum might lack public support.
The school board had asked for about 6.5% over 15 years — or $244 million to build new schools.
Commissioners settled on 5%, or a little over $187 million.
“Not exactly the details I would've asked for,” Commissioner Harry Cohen said. “But I am willing to go along with the board.”
Hillsborough Schools Superintendent Van Ayres released a statement following the vote:
"We thank the Board of County Commissioners for including schools in the CIT, which is critical to our future. Hillsborough County’s population is growing rapidly, and we pledge to be good stewards of any funds we receive. If voters approve this measure, the CIT would generate approximately $187 million over 15 years for public schools, which means the district will most likely have to look for new funding sources to accommodate our growing community and build the schools that our students will need.”
Some commissioners said they were still concerned about putting the CIT referendum on the same ballot as the School Board’s proposed property tax increase to support salary increases.
They say with people’s finances already stretched thin, some voters might perceive it as double dipping — and reject one referendum or possibly both.
County staff will now draft a referendum which the public will have a chance to weigh in on when the board meets again on April 17.