News

By Mary Thurwachter
 
    The economy has had its ups and downs during the past eight years, but one thing hasn’t changed: Lantana’s tax rate. It’s been $3.24 and is projected to stay the same for the ninth consecutive year, 2016-2017.
    On July 11, the Town Council set the proposed rate at $3.24 per $1,000 of taxable value. Two budget workshops have been held already and public hearings are scheduled for 5:30 p.m. Sept. 12 and Sept. 26 in council chambers.
    Anticipated property tax revenues for 2017 are $2,753,485, up $282,048 from 2016’s revenues.
    “Property taxes are projected to account for 21.5 percent of the anticipated revenues in the current fiscal year and are expected to increase to 27.8 percent for the new fiscal year,” said Town Manager Deborah Manzo.
    Lantana received notification from the Palm Beach County property appraiser of an 11.7 percent increase in the value of taxable property within the town, from $800.1 million to $894.7 million.
    Capital purchases range from $5,625 to replace a postage machine in the finance department and $50,000 for manhole repairs.
    The town anticipates an increase in insurance costs, both for employees’ medical and dental insurance and for general liability, property, casualty and workers’ compensation.
    Town employees can expect a cost of living raise, calculated at 0.9 percent based on March’s consumer price index. Merit raises, tied to evaluations, could be as much as 5 percent.