By Bryan Boggiano
The city commission is getting ready to adopt the 2023 budget, which includes increases in some city taxes.
On September 12, they will adopt the fiscal year 2023 millage rate, fire assessment fee, and solid waste assessment fee at 7 p.m.
These fees are part of the proposed 2023 budget of $82,598,557.
Most of that figure comes from general fund expenditures of $49,142,000 from local taxes, $13,695,475 from the Capital Improvement Projects Fund, and $15,628,132 from the American Rescue Plan Act.
Another $2,100,000 comes from the Infrastructure Replacement Fund, while the rest includes the Pine Tree Road Fund, the Park and Community Improvement Fund, the Public Safety Impact Fee Fund, and the Government Impact and Library Impact Fee Fund.
The millage rate, which determines the amount of taxable income on a property related to its value, brings in more than half of the revenue for the general fund.
At their July 13 meeting, the commission voted unanimously to support setting the maximum millage rate at 4.2979 mils.
Although the proposed millage rate remains the same as 2021, residents will likely experience increases in property taxes. For the 82 percent of homeowners with homesteaded properties, tax increases are capped at three percent.
The value of what the city considers a “typical” home increased from $740,000 in May 2021 to $985,000 in April 2022, according to city documents.
That translates to the city’s revenue from property tax growing by 9.5 percent to $27,143,289.
Other rates that could increase for residents include fire and solid waste assessments.
In July, the commission voted 4-1 in favor of raising the preliminary fire assessment from $250 to $290 per residential unit.
The assessment rate for commercial properties would be $0.6857 per square foot. For industrial properties, the rate would be $0.3654 per square foot.
The rate increase would generate $3,650,000 in revenue for the city.
The proposed solid waste assessment would increase to $417.00 per residential unit. This represents a $14.04 increase, or 3.5 percent, from Fiscal Year 2022.
With the increase, the assessment will generate an additional $440,000 in city revenue.
Following their September 12 meeting, the city commission will hold a second and final reading on the items on Wednesday, September 21, starting at 6 p.m.
- A University of Florida journalism graduate, Bryan plans to pursue geosciences at Florida International University for his master's. He has a strong interest in weather, entertainment, and journalism.
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