Hollywood’s tax rate is already one of the highest in Broward County — and it’s about to get even higher.
That’s because Hollywood voters approved a $165 million bond last week that will require $100 million in interest payments over 25 years.
The new bond will help pay for a new police headquarters, upgrades to city-owned parks and golf courses and neighborhood improvements that include building sea walls where there are none now.
Hollywood is already paying off a $54 million, 30-year parks bond approved by voters in 2004.
The payments on the new $165 million bond may start as soon as November, when tax bills start to arrive.
Hollywood’s new tax rate will increase from $770 to $834 per $100,000 of assessed property value, city spokeswoman Raelin Storey says.
For a home with a taxable value of $165,000, the bond debt will add $106 to the yearly property tax bill. And for a home assessed at $1.98 million, the debt will add $1,272 to the tax bill.
Retired pilot Doug Evans, who voted against the bond, said he and his wife are so mad they’re planning to move. He figures they’ll have to pay an extra $200 a year for 25 years.
“We’re just becoming frustrated — and we’re not the only ones,” he said. “If you look around, you’ll see a lot of homes up for sale. You’re driving people out of here. If I ran my household the way the city runs things, I wouldn’t have anything.”