Cooper City residents will see a stable property tax rate as the city council announced the proposed millage rate of 5.845% for the upcoming year during a recent special commission meeting. This marks the sixth consecutive year that the city has reduced its millage rate, providing some financial relief to homeowners.

In Broward County, property tax bills are divided among various taxing authorities, with Cooper City retaining approximately 30% of the total bill. The school board receives about 33%, while Broward County takes 29%, and special districts account for the remaining 8%. For example, a homeowner with a property assessed at $500,000 would calculate their tax bill by multiplying the assessed value by the millage rate, resulting in an estimated tax of $2,922.

The meeting also highlighted the importance of the homestead exemption, which allows homeowners to deduct $50,000 from their assessed value, ultimately lowering their tax burden. This exemption is crucial for residents, as it means less revenue for the city but significant savings for homeowners.

To assist residents in understanding their property taxes and exemptions, the city plans to provide links to the property appraiser's office, offering resources on homestead exemptions and portability options. This initiative aims to empower homeowners with the knowledge they need to navigate their property tax responsibilities effectively.