​For the first time in 11 years, the County Commission approved a reduction in the countywide millage rate for fiscal year 2023 – the tax rate per $1,000 of your real property's value – from 4.7815 down to 4.715 mills.  At the new millage rate, a homesteaded property at the median value of $365,000 would save approximately $21.68 per year.  While the savings is not huge, it was important to give people a break as costs all across the board for goods and services have escalated.  The millage reduction was possible without affecting the delivery of high quality county services to the public.

Additionally, Palm Beach County received revenue replacement dollars through the Federal American Rescue Plan Act to cover general government expenses and offset the impact of the pandemic on our community.  This frees up ad valorem funds to pay for projects previously approved by the Board.

If you notice an increase in the property taxes on your bill, please note this is due to higher assessed values of real estate, not an increase in the tax rate.  Of the 650,420 parcels of real property in Palm Beach County as of 2022, total market value is $404.3 billion, and total taxable value is $255.3 billion.

The county's total gross budget is $6.7 billion, of which $1.9 billion is in the General Fund.  Current property taxes fund 24.9 percent of the gross budget.  In addition to property taxes, revenues include the fund balance – the excess of fund assets over liabilities; intergovernmental revenues in the form of grants, entitlements, shared revenues, or payments in lieu of taxes; licenses, permits and fees; charges for services; and, inter-fund transfers.

The County continuously explores innovative means to use taxpayer dollars efficiently and leverage the costs of providing programs and services through grants and partnerships.  In formulating the FY2023 budget, the Board prioritized six strategies.  These are the highlights:

• Economic Development
• $4.5M in business incentives
• Environmental Protection
• $4M for natural areas management
• $750,000 for the manatee protection program
• Housing and Homeless
• $11.5M for homeless resource centers
• $2.4M for a non-congregate shelter in the Glades
• $10M for affordable housing development
• Infrastructure
• $59M in capital improvements
• $73.3M for Palm Tran vehicles and operations
• Public Safety
• $743.3M for the Sheriff
• $10.3M toward Animal Care & Control
• $2.7M for Emergency Management
• $3.5M for Victims Services
• Substance Use and Behavior Disorders
• $1M toward the addiction stabilization center
• $1.5M for recovery support
• $6.3M for financially assisted partner agencies

Expenditures also include an increase in reserves from $189M in FY 2022 to $261.9M in FY 2023.

Beginning in March, County departments were required to submit their budgets with service levels at status quo, allowing additional requests only for critical needs.  Review continues through April and May, culminating in a budget workshop in June.  The millage rate is set at a public meeting in July, and two separate public hearings occur in September, where members of the public can participate in the process.

Your comments and questions are welcome, and if I can assist you please contact me at (561) 355-2201 or by email at mmarino@pbcgov.org.