CORAL SPRINGS, FL – After months of financial challenges from coronavirus, Coral Springs officials are not looking to raise the millage rate in the coming fiscal year.
City Manager Frank Babinec said his staff is working to keep the millage rate at the current level, and have “as minimal increases to fees as possible.”
“We’re working through the process now, but it’s truly our intent not to increase the millage rate,” Babinec told city commissioners last week.
A millage rate is the amount per $1,000 that is used to calculate taxes on a property. But even if the millage rate goes unchanged, taxes could still go up if there are increases in property values.
For Coral Springs, it would be the fourth year in a row that the millage rate would not change after going up steadily since 2010 fiscal year, according to the city budget.
In his comments about next year’s budget, Babinec didn’t go into detail on how the pandemic will impact future revenues. Officials will go over next year’s budget at Wednesday’s commission meeting.
The current 2019-2020 budget, at one point, faced a roughly $5 million shortfall, requiring city leaders to cut spending without trimming essential services such as law enforcement, fire rescue, and park maintenance.
In the current budget, the combined general operating and debt service millage rate is 6.1266 per $1,000 of assessed value.
As far as fees, the fire assessment, according to the current budget:
- for single-family homes, is $227.82
- for multi-family, is $227.82 per unit
- for commercial properties, is $26.99 per 100 square feet
- for industrial warehouse, is $2.71 per 100 square feet
- for institutional properties, is $54.51 per 100 square feet.
And, for the residential solid waste special assessment, the fee is $290 per single-family home.
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