Palm Beach Gardens residents could see tax rate go down
Proposed 2015-16 budget calls for lowering tax rate, adding 10 full-time jobs.
PALM BEACH GARDENS — Palm Beach Gardens is cashing in on recovering home values and new construction following the recession.
The city’s proposed 2015-16 budget calls for lowering the tax rate, adding 10 full-time positions and making significant capital improve- ments. Officials will vet the $137.1 million spending plan at 7 p.m. Sept. 10 and 17 at City Hall, 10500 N. Military Trail.
Vice Mayor David Levy said the new positions seem to be justified. Officials still need to carefully review the budget, he said.
“We do have a little bit of catchup to do, but we need to make this the most attractive city that we can, and a low millage rate is one of the things that does that,” Levy said.
The total tax rate will decrease from $5.83 to $5.69 per $1,000 of assessed value if the city coun- cil approves the budget as is. Residents with a homestead exemption and a taxable value of their home at $400,000 could see a $37 decrease in their annual city taxes.
The proposed operating tax rate of $5.55 is lower than last year’s $5.67, but it represents a 4 percent increase above the rollback rate of $5.34. That’s what would generate the same amount of revenue as the previous year. The city’s $9.44 billion property valuation, including $131.6 million in new construc-
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