{City of Coral Springs}
By Bryan Boggiano
Budget season is back, and the city is preparing to talk finances with residents.
The Department of Budget and Strategy is hosting its annual budget academy in person at City Hall and Zoom on Monday, Aug. 29.
The Zoom meeting will be held from 12 p.m. until 1 p.m., while residents can attend it in person from 6 p.m. until 7 p.m.
Staff from the Broward County Property Appraiser’s Office will also be at City Hall between 3 p.m. and 5:30 p.m. on Aug. 29 to answer individual questions along with the Department of Budget and Strategy.
The Aug. 29 Budget Academy follows several discussions that city officials had regarding property taxes going into the new fiscal year and an update from Broward County Property Appraiser Marty Kiar at the city commission’s Aug. 3 meeting.
In June, Deputy City Manager Cathy Gives discussed with the city commission that although the millage rate would remain the same, rates such as the stormwater and fire assessments would increase.
The city commission ultimately passed the introductory rates and 2023 budget at their July 27 meeting.
Even though the millage rate will remain unchanged, property taxes will increase for residents due to increased property values.
At the commission’s Aug. 3 meeting, Kiar stated that in July 2021, the average sale price for a home in Coral Springs was $563,829. One year later, it increased to $681,353.
The average selling price for a condo was about $181,000, which increased to roughly $222,000.
The city will generate about $6.7 million more in tax revenue with those increases.
For residential property taxes, about 30 percent goes to the city, 28 percent to Broward County, and 32 percent to the School Board of Broward County.
The rest goes to South Florida Water Management District, Children’s Services, the Hospital District, and the Florida Inland Navigation District.
For Givens and city staff, communicating this information with residents at the budget academy is vital for both transparency and fiscal responsibility.
“The Department of Budget and Strategy looks forward each year to provide an overview of the city’s budget process, including how tax dollars are allocated and answer questions,” she said.
The city will host two budget hearings on Sept. 12 at 5:15 p.m. and Sept. 21 at 6:00 p.m., both at City Hall, where the city commission will discuss and vote on the final budget.
Residents who register here will receive a link to the Zoom meeting.
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