By Mary Thurwachter
Lantana Finance Director Stephen Kaplan gave Town Council members and residents a first look at the proposed fiscal year 2024 budget during a June 12 workshop.
Among the highlights, Lantana saw a 17.1% increase — or $262 million more — in taxable values this year, the highest percentage rise of any South County coastal municipality.
The increase was tied to new construction and the development of Water Tower Commons, the 73-acre mixed-use project with apartments and some retail in one of the town’s most desirable locations — the site once occupied by the A.G. Holley State Hospital.
“For the current year we have approximately $1.5 billion in taxable value, and with the 17.1% increase this year, we’re estimating $1.79 billion for 2023/2024,” said Kaplan, including $77 million in new construction and $70 million from Water Tower Commons.
Unlike last year, when the town upped the tax rate from $3.50 to $3.75 per $1,000 of taxable value — despite a 15.8% increase in the town’s tax base — no rate increase is planned this year, Kaplan said. Property tax revenue, using that $3.75 rate, is expected to bring in $6.4 million, assuming a 95% collection rate.
Money from the county’s infrastructure surtax, or penny sales tax, is expected to bring in $1.05 million to help pay for the ADA ramp at the beach, wooden decking and railings at the beach park, replacing Town Hall windows, renovating the Town Council chambers, paving projects, and constructing classrooms and an emergency operations center at the Police Department.
Lantana has received more than $6.3 million in federal American Rescue Plan Act money. To date, more than $4.2 million of those funds has been committed for various related projects, leaving about $2 million for other projects, Kaplan said, although he didn’t specify the projects.
Lantana has received $2.8 million in grants and appropriations. The bulk of the money — $1.2 million each from the federal and state governments — will be used for water main replacement.
The grant money will also go toward improvements to Maddock Park and the dog park there; a stormwater drainage system and future-needs analysis; an asset inventory and Ocean Avenue vulnerability assessment; and to pay for ADA door openings and parts of the library garden.
On the spending side, Lantana will revise salaries for employees to remain competitive; add an assistant police chief; add a new library manager and a business development specialist.
In the town’s administration department, about $210,000 will be put aside for replacing computers and purchasing three SUVs for the Police Department. Public Services
Department expenditures include $897,500 for town-wide improvements such as landscaping, adding trash receptacles and installing electric lighting along Greynolds Circle (around Town Hall) for holiday events; holiday decorations for Greynolds Circle; community park improvements such as new benches, landscaping, and trash cans; replacing the roof at the Recreation Center; and resurfacing the basketball court at the Sports Park.
The library budget sets aside $35,000 for bookshelves, computers and books.
The second budget workshop is set for 5:30 p.m. July 10 in the council chambers. The proposed tax rate will be set that night, as well. Public hearings on the budget and tax rate will be Sept. 11 and 20.
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