On September 20, 2017, the City Commission adopted the FY 2017-18 budget. The adopted budget provides a financial outline and basis for the upcoming year’s activities. The strategies used to develop the budget embrace the City’s core principles, which are rooted in the continuous engagement of our residents.
This year, the City experienced the highest net percentage change in taxable value in Broward County of 11.28%, with the estimated taxable value of $488,142,526.00.
For the past seven years, revenue from grants has played a role in funding infrastructure projects and service programs. This year, grants will play a major role in the budget, with projected funding of $2,909,605.00 (or approximately 17.1% of the City’s total revenue).
For the past seven years, revenue from grants has played a role in funding infrastructure projects and service programs. This year, grants will play a major role in the budget, with projected funding of $2,909,605.00 (or approximately 17.1% of the City’s total revenue).
As such, the City Commission voted not to increase the millage rate and kept the same millage of 8.65 as last year. To that end, the Fiscal Year 2017-2018 Budget is $16,846,313.00. The adopted budget is balanced and sufficient to meet this year’s operating goals and I am confident that that the City’s financial resources are being maximized.
Where Do Your Property Taxes Go?
HISTORY OF AD VALOREM REVENUE
