Venice residents could see higher property taxes next year if city officials can’t find another way to fully fund pensions for police and fire department personnel. The Herald-Tribune reports City Council members voted 6-1 for a half mill tax hike, or 50-cents/$1,000 of taxable value in 2016 if no other ways are found to bring down the unfunded pension liability. The hike in the current $3.10 property tax rate would raise $1.5-million/year towards the $17-million the city needs. The deadline to find other means of dealing with the pension issue is June 1st.
