Duval Times

In a recent statement, the city of Jacksonville outlined its recommended funding proposal, stating that it adheres to the voters' wishes when they approved the referendum to complete Better Jacksonville Plan projects and start reducing pension fund debt in 2031 using the half penny sales tax.

The statement read, “Our recommended funding proposal follows the will of voters when they passed the referendum to complete Better Jacksonville Plan projects and start paying down pension fund debt in 2031 out of the half penny sales tax."

The city further clarified that any assertions suggesting this funding proposal would jeopardize the pension fund are either intentionally misleading or demonstrate a misunderstanding of how the pension fund operates. The statement continued, "Anyone who says this funding proposal would doom the pension fund is either intentionally misleading the public or misunderstands how the pension fund actually works."

According to officials, maintaining the original timetable for the Better Jacksonville Plan will result in significant savings for taxpayers. They stated, "Leaving the Better Jacksonville Plan on its originally intended timetable will save taxpayers $1.5 billion in debt service and fully fund the pensions.”

For more information about this funding proposal, visit https://jacksonville.gov/sotf.