Coral Springs Leaves Millage Rate Unchanged
The good news is that Coral Springs property owners can rest easy knowing that millage rates won’t be increasing in 2021. However, this doesn’t mean that property taxes won’t be going up.
On September 21, the Coral Springs city commission voted to approve the millage rate for 2021. Although millage rates aren’t increasing, the average single-family household, based on a value of $377,579, will still see an average increase of $61.59 in property taxes due to home values rising.
The city will also see an increase of $2.8 million more in revenue in 2021 due to those home values increasing.
Millage rates are the amount per $1,000, which is used to calculate property taxes for residents. At 5.8732, although unchanged from 2020, it would still be advertised as a tax increase per state law — because the millage rate is more than the rolled-back rate — which is 5.6008.
“Although it is being proposed as a tax or millage increase, it’s the same as it was when we passed it back in 2018. With anything in life, things become a little bit expensive, what we are trying to do here at the city is make sure we aren’t crushing you all with undue taxes,” said City Commissioner Joshua Simmons.
Catherine Givens, Director of Budget and Strategy, explained that they had planned millage increases for the coming years in their five-year forecast. This was done to show transparency with the public.
“We heard from the public that they’d rather know it’s coming and they’d rather know it’s smaller increments,” Givens said.