Sep 11, 2004 Tampa Palms CDD Board Previews Budget By GEORGE WILKENS gwilkens@tampatrib.com TAMPA PALMS - A clean bill of long-term financial health was previewed Wednesday night by Tampa Palms Community Development District supervisors, who examined a balanced budget slated for adoption later this month. The $1.42 million budget reflects a property tax rate of 2.6 mills, in effect since at least 1995. A mill is equal to $1 of tax for each $1,000 of assessed, nonexempt property value. At 2.6 mills, a house in Tampa Palms Areas 1 or 2 assessed at $148,000 minus the standard $25,000 homestead exemption pays $319.80 to the development district. Chairman Gene Field declared the district financially sound, continuing to maintain the same tax rate for a decade. Commissioners said the unanimous decision in April 2002 to hire One Source Landscape and Golf Services is responsible for continued savings. ``We will have saved over $1 million versus our old approach'' after three years, said Supervisor Bill Shimer. Figures back that up, indicating an average savings of 20 percent, or $341,000 annually, over fiscal years 2000-02, when an in-house landscaping team handled the duties. ``The picture is so much different,'' said Supervisor Ed Copeland, who will leave office in December after seven years on the CDD board. ``Seven years ago, we were cashed out.'' What's more, debt associated with bonds the community's developer issued to pay for Tampa Palms' infrastructure will be retired in 2008, relieving the district of that expense. How to best utilize that savings will be left to a future board, supervisors said. Adoption of the budget will be at a public hearing scheduled for 6 p.m. Sept. 22. Reporter George Wilkens can be reached at (813) 977-2854, Ext. 22.