General fund spending in Lake Worth Beach will increase nearly 8.5%
in the next fiscal year under the city's operating budget of $184.1 million that was approved Sept. 22.The 2023 budget — about 8% higher than in 2022 when it was $170 million — is divided into governmental funds and enterprise funds.
Governmental funds, which includes the general fund, total $71.1 million of the operating budget. The enterprise funds make up $113 million with the biggest share ($70 million) going to the city's electric utility.
The city projects a 12% increase in the tax levy, thanks primarily to a jump in taxable property that will bring in $14.2 million in 2023 compared to $12.4 million in 2022.
There's no change the city's property tax rate of $8.95 per $1,000 of assessed value. That rate combines the general fund rate of $5.49 with a separate rate of $3.46 that covers the cost of Palm Beach County Fire Rescue services.
General fund expenditures will rise 8.5% over the previous year.
More than 40% of Lake Worth Beach's $43.7 million general fund budget goes to pay its contract with the Palm Beach Sheriff's Office to provide law-enforcement services. The cost of doing business with PBSO rose 1.5% to $18 million annually. [PalmBeachPost]
2 comments:
Taxes are so high to live in this dump of a city filled with blight, crime, lawless and chaos.
70 million going to electric company a year what is going on my suggestion is sell it and saved at 70 million
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