By Steve Plunkett
Gulf Stream’s property tax bills for fiscal 2027 will have an increasingly familiar rate: $3.67 per $1,000 of taxable value, the same number it has been since 2021.
Town commissioners approved the tax rate in a final budget hearing on Sept. 23.
“There is no difference in this budget and the one that was tentatively approved during our budget hearing on Sept. 11,” Town Manager Trey Nazzaro said.
The approved tax rate will generate $7.53 million, up about $534,000 from this past year, Nazzaro said. Property values in town rose 7.9% to $2.05 billion.
More than 50% of the tax revenue goes to operation of police, fire and emergency medical services, Nazzaro said.
Under the new tax rate, the owner of a $1 million house will pay $3,672 in town property taxes in addition to county, school and other levies.
The new rate is 7.3% over the rollback rate, which would have raised $6.99 million, the same amount of property taxes as the previous year except for new construction.
The total 2026-27 budget is $12.4 million, which includes a $7 million general fund, $2.49 million water fund, $50,666 debt service fund and $2.87 million capital projects fund.
Work on the roads and drainage in the town’s Core area is wrapping up, and the capital projects money will go toward engineering and construction in the Place Au Soleil district. That work will include resurfacing of roadways, swale grading and reconstruction of roadways in spots.
Nazzaro will take $883,295 from the water enterprise fund to pay for a planned connection with Boynton Beach’s water plant, which he said will take place in spring 2027. Delray Beach will no longer be the town’s water supplier.
Gulf Stream now has $6.7 million in undesignated reserve funds, he said.
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