Mayor Lays it on the Line

JACKSONVILLE, FL -- Mayor John Peyton outlined a plan of action to lead the city out of a financial crisis.

The mayor is advocating a property tax increase for the first time in 17 years to shore up revenues to maintain basic city services.

At a news conference this morning, Peyton pointed out the city is $60 million short and needs to take action now.

Being proposed is a 1.2 mill increase, which translates roughly into $150 per year for the average homeowner.

"This is the right thing to do for our city," Peyton told reporters and a crowd of city employees and civic leaders.

In proposing a budget, Peyton says the city will continue to aggressively cut expenses, but added pension reform needs to be addressed.

In talking about city pensions, the mayor told the crowd, "We can no longer promise what no one else in America gets today," making reference to the $1.2 billion unfunded liability.

Peyton encouraged local taxpayers to learn the facts and become part of the solution. The city has unveiled a website to deliver Mayor Peyton's message. CLICK HERE to see the site.

On July 13, Peyton will present his budget to the Jacksonville City Council with specific details on spending. It will also include his plan to increase property taxes.

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