By Mary Thurwachter
A first look at Lantana’s budget for the upcoming fiscal year gives residents a good idea of the Town Council’s priorities — and is an early indicator that the town’s current tax rate of $3.75 per $1,000 of taxable value is likely to remain the same.
During the town’s first budget workshop on June 18, Town Manager Brian Raducci said the top three priorities are maintaining infrastructure, continuing with beautification projects, and responsible development. Other important goals include attracting and retaining valuable employees, continuing to attract businesses (especially along Ocean Avenue), continuing to support the library, resuming the dune restoration project, and installing an ADA-accessible ramp at the beach.
Stephen Kaplan, the town’s finance director for 17 years, shared pertinent numbers. For example, the town’s certified taxable value for 2023 was $1.792 billion and the estimated taxable value for 2024 is $1.952 billion (including $8.8 million in new construction). That’s an 8.9% increase, or $159.7 million.
Kaplan said property tax revenue — assuming a $3.75 millage rate and a 95% collection rate — will be approximately $6.9 million.
The finance director reports that all of the town’s $6.3 million in American Rescue Plan Act funds has been committed for operating and capital needs. ARPA money has to be obligated by the end of this year and spent by the end of 2026.
Lantana hopes to seize on grant opportunities, something at which it was very successful this year. It received $2.3 million with help from grants writer Ryan Ruskay of RMPK Funding.
Lobbyist Mat Forrest helped the town secure $1.3 million in state appropriations and Congresswoman Lois Frankel and her staff aided Lantana in collecting $2.2 million in federal appropriations.
In April, the town submitted a $1.9 million federal grant application to upgrade its water treatment plant.
Lantana’s budget is broken down into three categories, including 67% for personnel, 26% for operating expenses and 7% for capital projects. The town has no debt.
A second budget workshop is set for July 8 and the Town Council is expected to set the preliminary tax rate at its meeting that day. The preliminary rate will be included on notices sent out by the Palm Beach County Property Appraiser’s Office to property owners in August, alerting them to what their proposed taxes are estimated to be.
Public hearings on the town’s budget and tax rate are set for Sept. 9 and 18.
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