During Tuesday’s morning City Business Meeting, July 18th, 2023, the council set the maximum millage rate to the rollback rate of 4.257 mils. The motion to set the millage rate was passed with a 3-2.
The millage rate is the term used to talk about the property tax rate levied by a government, in this case the City of Palm Coast. So for every $1,000 dollars of property value, the property owner would pay $4.257 in taxes for the City of Palm Coast.
Because the City set the max millage rate at the rollback rate, the City staff will be reviewing the budget expenses to locate possible reductions for the next year. This millage rate will require the City budget to be reduced by $2.8 million dollars in order to balance itself with the new rate.
This millage rate cannot be increased during the budgeting process but could be lowered before the final adoption in September. The City Council will hear a budget meeting on September 7th at 5:15pm at the Palm Coast City Hall Community Wing. The public is always encouraged to attend in person, and if you cannot attend in person you can watch live or via replays on the City’s YouTube channel.
