Parkland Homeowners to Dodge Millage Hike but May Still Feel the Tax Pinch

by David Volz July 17, 2024

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Parkland Homeowners to Dodge Millage Hike but May Still Feel the Tax Pinch

City of Parkland {Google Maps}

Parkland homeowners will not see an increase in the millage rate this year. However, they will pay more in property taxes if the value of their homes increases.

The proposed budget for the 2025 fiscal year is $98,801,750 for all funds and $57,100,000 for the General Fund. The proposed millage rate is 4.2979 mills—the same as 2024. A homesteaded property can only increase by 3 percent each year by law.

According to the budget prepared by finance director Chris Johnson under the direction of city manager Nancy Morando, Parkland’s existing property value increased by 5.85 percent due to the increase in homesteaded properties. As the city nears buildout, it can expect a 2-3 percent yearly increase in property tax revenue.

For fiscal year 2025, the proposed fire assessment fee is $310.98 per residential unit — or 4.1 percent higher than the 2024 adopted fire assessment. This increase represents the proposed contract increase for fire rescue services with Coral Springs.

The proposed solid waste assessment is $453.24 for each residential unit. This represents a $21.60 increase over the 2024 adopted solid waste assessment, which is considered a pass-through charge and increased by 5 percent.

Parkland’s largest revenue source is ad valorem taxes, which comprise approximately 59% of all General Fund revenue. According to the budget, the city’s taxable value increased by 8.39%, or $634 million, for the 2025 budget year.

The city’s residential growth was 5.85%, or $442 million. New residential construction added $192 million in taxable value, adding $800,000 in new ad valorem revenue.

Taxable values provided by the Broward County Property Appraiser’s Office, released in late June, are essential to the Fiscal Year 2025 budget. According to the budget, the city is considered a bedroom community, with approximately 83% of its homes receiving Florida’s homestead exemption.

The capital improvement program for fiscal year 2025 provides funding for all large projects, including continuing at Pine Trails Park and Terramar Park.

According to the budget, resurfacing is currently taking place on Ranches Road.

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Author Profile

David Volz

David Volz has worked as a writer in South Florida for 35 years. He has written for the Sun-Sentinel, Hollywood Gazette, School Transportation News, South Dade News Leaders, Observer among others. He has an MA in Communications from Florida Atlantic University and a BA in Communications from Valparaiso University. Volz teaches Communications at Miami Dade College and Palm Beach State College. He lives in Coral Springs and enjoys running and participating in 5Ks and half-marathons.