Boca Raton officials approved a $136 million general fund budget during a final Sept. 18 budget hearing, setting the property tax rate for 2014-15 at $3.71 per $1,000 of taxable property value.
    Property values have increased 5.63 percent in Boca Raton, with 4.71 percent coming from the reassessment of existing property and 0.92 percent coming from new construction.
An increase in overall property values means the city will automatically collect more dollars without raising tax rates.
    Under the approved tax rate, a property owner with a $250,000 home and a $50,000 homestead exemption would pay $742.52 in municipal property taxes.  
The city’s non-ad valorem fire services assessment will also remain at the current sum of $85 per residential property.
    A $130,000 budget amendment allows for library hours to be extended back to full-time.
A $50,000 budget amendment provides funding for a traffic study of the intersection of Northeast Fifth Avenue and Palmetto Park Road to determine the effects of a proposed Houston’s Restaurant on the northeast corner.  
— Sallie James

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