Assessment may pay for utility burial in Palm Beach

Miami /
Sep.September 05, 2015 01:00 PM

An advisory panel recommended that Palm Beach pay to bury electric lines and other utilities throughout the town with a special assessment tax instead of an adjustment to property tax rates.

In a 5-2 vote, the town’s Underground Utilities Task Force recommended that the town council choose to use special assessments to repay borrowed money from a revenue bond issue to pay for the burial of electric, telephone and cable television lines throughout Palm Beach.

The board decided in a separate vote to make a request for a judge’s validation of its recommended methodology for determining special assessments.

Tom Bradford, manager of the Town of Palm Beach, said the project would cost an estimated $85 million, would take 10 to 12 years to complete, and could enter the construction phase of development as early as next year.

The two dissenters on the Underground Utilities Task Force, Wilbur Ross and Susan Gary, want the city to issue general obligation bonds to pay for the utility burial project, which would be repaid with property tax revenue and would qualify Palm Beach property owners for income tax deductions.

The special assessments could appear as a separate line item in Palm Beach property tax bills as early as November 2016. [Palm Beach Daily News] — Mike Seemuth


Related Articles

arrow_forward_ios
Fischer & Co's Cliff Fischer with 100 Royal Palm Way PH-1
Cliff Fischer buys oceanfront Palm Beach penthouse for $15M
Cliff Fischer buys oceanfront Palm Beach penthouse for $15M
Jane Holzer with 980 S Ocean Boulevard (Getty)
Warhol star Baby Jane Holzer’s planned Palm Beach mansion advances
Warhol star Baby Jane Holzer’s planned Palm Beach mansion advances
From left: Susan Patterson, Wayne Bergman, and Mayor Danielle Moore with 710 South Ocean Boulevard (
Palm Beach to fight Florida’s single-family demolition law
Palm Beach to fight Florida’s single-family demolition law
Charles Dana and George Wieger with 170 Seagate Road (College of Charleston, Getty Images, Google Maps)
Colorado private equity boss buys Palm Beach home from Dana heir
Colorado private equity boss buys Palm Beach home from Dana heir
Ken Griffin (Illustration by The Real Deal with Getty)
Inside Griffin’s billion-dollar South Florida property play
Inside Griffin’s billion-dollar South Florida property play
(Illustration by The Real Deal with Getty)
Mansions on hold: Deals delayed because Palm Beach private schools at capacity
Mansions on hold: Deals delayed because Palm Beach private schools at capacity
152 Dolphin Road in Palm Beach (Google Maps, Getty)
Chicago real estate CEO sells Palm Beach home for $14M
Chicago real estate CEO sells Palm Beach home for $14M
Bruce Percelay with 261 Nightingale Trail (LinkedIn, Google Maps, Getty Images)
Goldman Sachs rainmaker drops $16M on Palm Beach spec house
Goldman Sachs rainmaker drops $16M on Palm Beach spec house
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...