- May 1, 2024
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The Palm Coast City Council on Wednesday unanimously adopted a tax rate of 4.2958 mills, or $4.29 per $1,000 of taxable value, for the 2012-2013 fiscal year.
The proposed millage rate is the rolled-back rate, which means the city will collect the same amount of money during the upcoming budget year despite a property values dip of about 6.4%, according to city officials.
The city also adopted a budget of about $125 million at Wednesday’s meeting, with an audience of a handful of residents. No public comments were made.
The general fund accounts for approximately $26 million of the budget, while property taxes account for about $15 million.
After the plan was approved, Mayor Jon Netts said a plan needs to be put together to address a capital improvement projects.
“That’s something we’re going to work on for the balance of this year because without that, we’re just kicking the can down the road,” Netts said Wednesday night. “That will be a tough row to hoe, gentlemen, but we will do it.”
City Council members also noted at Wednesday’s meeting that next fiscal year’s budget was prepared anticipating no income from the countywide half-cent sales tax.
The City Council will hold its next budget hearing 5:05 p.m. Wednesday, Sept. 19, at the Community Center, 305 Palm Coast Parkway N.E.
