Property Millage rate
Pursuant to §200.065(2)(b), Florida Statutes, the City must advise the Palm Beach County Property Appraiser of the proposed Operating Millage Rate, as well as the date of the City’s first public hearing on the tentative Operating Millage Rate and budget (which is scheduled for September 11, 2025).The proposed Operating Millage Rate approved by this Resolution establishes the maximum millage rate the City may consider and approve during the public hearings in September. The proposed Operating Millage Rate may be lowered by the Commission at the hearings, but it cannot be raised without additional notice being provided to each taxpayer at a cost of approximately $20,000 for postage.
Based on information from the Palm Beach County Property Appraiser’s Office, the FY 2025 Operating Roll Back Millage is 5.1183. This Operating Roll-Back Millage is the millage rate that will generate the same property tax revenue that was generated in FY 2025.
With the inclusion of the County Fire MSTU millage 3.4581, the maximum available Operating Millage cannot exceed 8.9526 mills. This year continues a trend with an increase in the taxable value of real and personal property of approximately 7.4%.
The City is ignoring the roll-back millage and the rate they will adopt will result in an increase in the actual tax revenues collected and will be 5.4945 mills plus MSTU of 3.4581.
The City is required to hold two (2) public hearings for adoption of a property tax rate and budget. The first public hearing is advertised by the Property Appraiser mailing to each property owner on a TRIM notice.
The Voter Approved Debt Rate may be lowered by the Commission at the hearings, but it cannot be raised without additional notice being provided to each taxpayer at a cost of approximately $20,000 for postage. Due to sufficient fund balance available to cover the future FY 2026 debt services, the Voter Approved Debt Rate is being decreased to 0.40 mills in FY 2026 from 0.92 mills in FY2025
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