- March 3, 2025
The Palm Coast City Council on Wednesday unanimously adopted a tax rate of 4.2705 mills, or $4.27 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 an increase in property values by about 1.012%, according to city officials. Under the rolled-back rate, the city will generate $15,208,447. Last year, with the rate set at 4.2958 mills, the city generated $15,120,750.
The city also adopted a budget of about $137.12 million at Wednesday’s meeting, with an audience of just a few residents. The proposed budget is a slight decrease from last year’s budget. There will be about $14.5 million in interfund transfers and charges, and so the total budget for the city will be about $122.65 million.
The general fund accounts for approximately $26.86 million of the budget.
The proposed millage rate is about a 0.0253 mill decrease from last fiscal year’s budget.
City Councilman Jason DeLorenzo, as well as other council members, praised the work staff did on this year’s budget.
“We’ve been able to put $5 million back in general fund capital improvement, which we were not able to do over the past few years,” DeLorenzo said. “I’m proud of it.”
The City Council will hold its next budget hearing 5:05 p.m. Wednesday, Sept. 18, at the Community Center, 305 Palm Coast Parkway N.E.
The budget and tax rate will be finalized at that meeting.
