The numbers are in and the possible tax rate is out with the proposed budget Palm Beach Gardens released last week. Photo provided by Richard Graulich at the Palm Beach Post.
Council will vet the proposed spending budget plan next month at the Palm Beach Gardens City Hall off of Military Trail.
The proposed total rate of $5.69 per $1,000 of assessed value is lower than than $5.81 maximum officials set at their July meeting. Homeowners with homestead exemptions can expect to see an annual decrease of $17.50 to $37.29 in the city portion of their tax bill if council passes the budget as it is, according to Palm Beach Gardens.
The effect of the proposed tax rate depends on the individual homes. A chart showing the possible city tax bills for homes valued at $200-, $300-, and $400,000 is available on the sixth page of the 2015-15 budget proposal, or the third page of a city memo, available here.
The proposed operating tax rate of $5.55 per $1,000 of assessed value is lower than last year’s $5.67, according to the city. However, it’s a four percent increase above the rolled-back rate of $5.34, according to the city. The rolled-back rate would generate the same amount of revenue as the previous year’s.
The proposed total tax rate of $5.69, which includes debt service, is lower than last year’s $5.83.
So where is your tax money going? Personnel costs account for the majority, or 68 percent, of the city’s general fund operating expenses. The draft budget includes 10 more full-time positions than the city had in 2015.
To learn more about Palm Beach Gardens’ proposed spending plan, check mypalmbeachpost.com later Wednesday.
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