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I am pleased to announce the Board of County Commissioners approved a lower tax (millage) rate for the first time in 15 years. The 2023 rate will be reduced from 4.78 to 4.71 per $1,000 of taxable value for all commercial and residential properties.
This will help offset the recent increases in appraised values the local real estate market has experienced over the past year.
Additionally, with the current economic challenges, this was a prudent decision since we were able to balance the budget without any cuts to programs or services.
The proposed budget for Fiscal Year 2023 is $6.7 billion, which represents an 11% increase over Fiscal Year 2022. Priorities include affordable and workforce housing, economic development, infrastructure, environmental protection and public safety.
We were also able to increase the county's reserve funds for emergencies such as hurricanes or other natural disasters to $226 million from $189 million in Fiscal Year 2019.
These reserves ensure the county's AAA bond rating and competitive interest rates, resulting in lower debt payments and substantial taxpayer savings.
As part of its Fiscal Year 2023 budget process, the Board of County Commissioners will hold two public hearings at Governmental Center, 301 N. Olive Ave., West Palm Beach.
The public is invited to attend the following budget workshops:
- Sept. 13, 2022 at 5:05 p.m.
- Sept. 20, 2022 at 5:05 p.m.
During these challenging times, nearly every household, business and community in our county has had to make difficult decisions. With that in mind, I will continue to work to control spending while providing improved services in an efficient and innovative manner.
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