By Steve Plunkett and Mary Hladky
The Boca Raton City Council gave final approval on Sept. 22 to a $276.8 million general fund budget and set the property tax rate at $3.66 per $1,000 of taxable property value.
The new tax rate is a tiny tax cut of 0.001, or 0.027%, which is in keeping with the city’s practice of making a very slight cut so officials can claim a tax rate decrease.
But the $3.66 per $1,000 rate is virtually the same amount it has been since fiscal year 2016.
The rate will generate $145.1 million in property taxes, up $9.5 million or 7% from the previous year. Residents owning a home with a taxable value of $450,000 will pay $1,648.76 in city ad valorem taxes.
The latest figures show the assessed value of Boca properties increased by $2.7 billion, or a 6.3% increase from the previous year.
The general fund budget, which is registering a 7.7% jump, includes a last-minute addition of $1.8 million to replace a fire truck that was damaged on Interstate 95 in mid-September. The loss will be covered by insurance, said Jim Zervis, deputy city manager and chief financial officer.
“We have an opportunity to move quickly and get an order in with a potential delivery of 12 to 13 months, which is extremely quick for a fire truck of this size,” Zervis said during the final budget hearing.
The budget also includes money for 24 new full-time positions — 12 firefighters, four fire lieutenants, four EMS captains, a budget analyst, a vehicle technician, a community resource coordinator dedicated to homeless management and a community relations coordinator.
Separate from property taxes, the residential fire assessment fee is increasing from $155 to $224 — a 45% increase — to cover the cost of the new fire rescue positions.
Much of the general fund budget — 63% — pays for police and fire rescue services.
Ad valorem taxes pay for 52% of the general fund budget. The rest largely comes from charges for services, licenses and permits and franchise fees.
A separate capital improvements budget includes $7.5 million to begin improving Memorial Park in the downtown campus, including the existing buildings and recreation facilities, since city voters shot down plans in March to redevelop the area in concert with a developer.
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