Coconut Creek Commission to Discuss 2025 Budget and Property Tax Increase

by News Staff August 6, 2024

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Coconut Creek homeowners can expect to see an increase in their property taxes this year.

The proposed ‘not to exceed’ millage rate for fiscal year 2025 will increase from 6.4463 to 6.8988. The commission will discuss the budget during a workshop on August 7 at 9:00 a.m. in the commission chambers.

According to city manager Sheila Rose, how much a homeowner pays in property taxes will depend on many factors, and nearly everyone will pay a different amount. Most homes in Coconut Creek are valued from $220,973 to $441,967, but a significant number are valued at less than $220,000.

The owner of a home assessed at $250,000 homesteaded will likely see an increase of about $112 this year. Rose emphasized that the rates would vary considerably.

The funds that comprise this year’s budget will total about $222 million. According to Rose, the proposed general fund will be 131,719,000.

Homeowners will pay more taxes to fund a new fire station, fire administration building, and information technology server room for cyber security. The police station will be renovated and have an addition. According to Rose, the new fire station and administration building will cost about $28 million and be located behind Monarch High School.

The improvements to the police station will cost about $39 million. Money will also be spent on infrastructure for the MainStreet development. The city is also doing an economic development analysis to plan for the development of underutilized shopping centers and financial projections to stabilize the tax base, according to Rose.

Rose said she knows these are significant expenditures, but the last time the city had a tax increase was in 2018, when it needed to fund a separation from the Margate fire department and transition to Coral Springs dispatch.

“The police station needs to be upgraded, and we need to pay for improvements to public safety to accommodate our city’s growth. These will be the last major tax increases for a long time,” said Rose.

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