In a recent government meeting, officials outlined significant changes to the city’s budget, including a reduction in the operating millage rate to 5.72543 and a decrease in the debt service millage to 0.5534 mills. However, residents will see an increase in the fire assessment rate, which is proposed to rise to $382 per residential unit.

City representatives emphasized that despite these adjustments, the overall financial strategy remains competitive compared to peer cities. Among eight comparable cities with populations between 40,000 and 80,000, Oakland Park boasts the second-lowest combined millage rate, even as it manages debt service. The proposed fire assessment rate is also notably below the average of $4.30, maintaining a competitive edge.

The budget, described as the largest in the city’s history, includes an increase in the stormwater assessment rate by $11 and a $30 rise in residential solid waste fees. These adjustments are still below the county average, with solid waste rates reflecting a 10% increase for commercial services. The city plans to add four new positions to its staff, bringing the total to 329, excluding contract positions related to the Police Services Agreement with the Broward Sheriff's Office.

For property owners, the implications of these changes were detailed in the TRIM notices sent out in August, which outlined the taxable values and potential impacts on property taxes. With the proposed rate reductions, the average property tax bill is expected to increase by approximately 8.45%, translating to an additional $156 for residents.

Despite the decrease in operating and debt service millages, state law mandates that the city advertise a property tax increase due to the rolled-back rate calculation, which reflects a 7.42% increase over the previous fiscal year’s tax generation rate.

City officials highlighted the benefits of Florida's tax laws, particularly the Save Our Homes provision, which caps increases for homesteaded properties at 3%. This law has resulted in significant tax savings for over 60% of residential properties in Oakland Park, while non-homesteaded properties face a higher cap of 10%.

Overall, the meeting underscored the city’s commitment to maintaining fiscal responsibility while balancing the needs of its residents amidst rising costs.