City Commission Approves Preliminary 2023 Fiscal Year Millage Rate, Assessment Fees

by Bryan Boggiano August 2, 2022

by Bryan Boggiano August 2, 2022 3 minutes read

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{City of Coral Springs}

By Bryan Boggiano

The city commission unanimously approved the preliminary millage rate and fees for fire, solid waste, and stormwater assessment at their Wednesday, July 27 meeting for the 2023 Fiscal Year.

In June, city staff discussed the preliminary budget with the commission. Much of those plans remain the same.

The millage rate will remain unchanged at 6.0232 mills for 2023. The city does not project another increase until Sept. 2025, when it would be preliminarily raised to 6.1732.

Despite the millage rate remaining the same, increasing property values means property taxes will increase.

For a home with an average market value of $489,596 and a taxable value of $279,984, homeowners can expect to pay $10.23 per month more in city taxes and assessments, or bout $122.78 per year.

For a condominium with an average market value of $158,832 and a total taxable value of $107,197, city taxes and assessments will increase by roughly $8.11 per month or about $97.33 per year.

For properties that are homesteaded or about two-thirds of all homes in the city, property taxes will increase by no more than three percent.

Keeping the millage rate at 6.0232 would bring in $5.9 million more in revenue to the city and require a 4-to-1 vote to pass. A rolled-back rate of 5.5108 would require a 3-to-2 vote to pass, but it would cut $6.22 million from the city’s proposed 2023 budget.

Approximately 32 percent of all property taxes go to the School Board, 28 percent to Broward County, 31 percent to the City of Coral Springs, and the balance go to Children’s Services, the Hospital District, Florida Inland Navigation, and the South Florida Water Management District.

The preliminary fire assessment would increase from $249.72 to $262.72 per year for residential properties.

For commercial properties, the rate would increase from $28.53 to $31.00. Industrial and warehouses would pay less, from $4.07 to $3.52, while institutional properties would increase from $44.82 to $50.19.

The solid waste assessment would increase from $322 to $330.

For the stormwater assessment, the proposed fee is $129.97, up from $119.13. According to Catherine Givens, deputy city manager, part of this fee covers stormwater mitigation projects in Commerce Park, the Meadows and the Dells, and Westchester.

The city commission will advise the property appraiser about the preliminary fees, which will be mailed out and included in residents’ TRIM notices in August.

The city will host a budget hearing on Sept. 12 at 5:15 p.m. and a second on Sept. 21 at 6 p.m., both at City Hall, where they will vote on the final millage rate and assessments.

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Bryan Boggiano

Bryan has a degree in journalism from the University of Florida and earned his masters in geosciences from Florida International University, where he focused in atmospheric sciences. His interests include weather, entertainment, and municipal government.