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Palm Coast Wednesday, Jul. 20, 2022 2 months ago

Palm Coast sets maximum property tax rate

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The City Council set the coming year's maximum rate at 4.6100 mills — the same as this year's actual rate.
by: Jonathan Simmons Managing Editor

Palm Coast property taxes may be going up this year, even though the tax rate won't: The City Council on July 19 voted 5-0 to set the city's maximum millage rate at 4.6100 mills, or $4.6100 per $1,000 in taxable value. 

"I really want to urge everyone to start looking for some places to make some cuts, because that's what folks are having to do at home."

 

— ED DANKO, city councilman

That rate is the same as this year's current rate. But it's also a 14.85 % increase over the rolled-back rate — the rate that would bring the city government the same dollar amount of tax revenue as it received this year — because inflation has pushed home values up 19.7%. The rolled-back rate would have been 4.0138 mills.

The City Council can shift the maximum millage rate down before it sets a final rate for the coming year, but it can't increase it over the rate set at the July 19 meeting. 

Councilman John Fanelli asked city staff about setting a millage rate somewhere between the 4.6100 millage rate and the rollback rate — for instance, he said, something around 4.2 mills or 4.3 mills. 

That would be possible if the council cuts back the city's proposed $52.7 million general fund budget, which would be 7.1%  higher than this year's budget.  

Councilman Ed Danko said the city needs to look for things to cut.

"I'll go ahead with this millage rate today, but I really want to urge everyone to start looking for some places to make some cuts," Danko said, "because that's what folks are having to do at home. ...  I've gotten so many calls from people that just have urged me to push for the full rollback, because they're hurting. They're on fixed incomes, a lot of our residents, so it's tough for everyone. It's tough for our city. It's tough for our residents, but I really seriously think we need to look for more cuts."

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