Broward County Commissioners have agreed to cut the property tax rate by one-percent in fiscal year 2017 (FY 2017). This means most homeowners with homestead exemptions won’t see an increase on the county portion of their property tax bill.
The total recommended budget for FY 2017 is $4.7 billion, which encompasses all tax supported and non-tax supported funds. Overall the total budget increases by $505 million. Included in the budget is substantial funding for large projects at Port Everglades, the Fort Lauderdale Hollywood International Airport and Water and Wastewater services.
The proposed one-percent reduction sets the FY 2017 millage rate at 5.669. Based on this recommended budget and millage rate reduction, the average homestead property taxpayer wont see increased County property taxes. For some homeowners, the market value change in their properties coupled with the reduced millage rate will determine the amount of property taxes they will pay.
The FY 2017 budget won’t be final until the public has a chance to comment. Public hearings convene on September 15th and September 27th, beginning at 5:01 p.m. at the Governmental Center, 115 S. Andrews Ave., Room 422 in Fort Lauderdale.
Final budget approval is expected after the second public hearing. The fiscal year 2017 budget takes effect on October 1, 2016.
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