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Coral Gables sets millage at 5.559 while adopting July budget estimate
Summary
The City Commission approved a 5.559 millage rate and reviewed the city's July 1 budget estimate, projecting operating revenues of about $281 million and a total FY26 revenue estimate near $312.5 million; commissioners asked staff for further scenarios over the summer.
Coral Gables commissioners on July 2 voted to set the city's tentative millage rate at 5.559 mills and reviewed the July 1 budget estimate that will guide work on the fiscal 2026 budget.
Assistant Finance Director Paula Rodriguez told the commission the July 1 estimate is based on June 1 property values and will be certified to the property appraiser by Aug. 4. Rodriguez said the estimate shows roughly $281 million in operating revenues, transfers from reserves and restricted funds that bring available resources to about $312.5 million, and proposed expenditures of about $308.2 million before final adjustments.
The presentation showed an updated July property valuation that increased taxable value estimates and added approximately $578,000 in property tax revenue relative to the earlier June estimate; Rodriguez said staff will return over the summer with refined revenue figures and recommended adjustments before the required September hearings. She also noted the budget currently includes one-time grant appropriations that were recently vetoed by the governor and will be removed later.
Commissioners debated whether to lower the millage today. The commission held that the rate placed on the property-tax notices today can be reduced later but is harder to increase after certification to the property appraiser. The clerk noted the resolution for the tentative millage carries a procedural vote requirement; the resolution ultimately passed. The clerk recorded votes in the meeting: Vice Mayor Anderson — yes; Commissioner Castro — no; Commissioner Fernandez — yes; Mayor Long — yes. The resolution passed and the 5.559 millage will be placed on the notices mailed to taxpayers.
Rodriguez summarized the budget schedule: staff will continue to refine estimates during the summer and bring two public hearings in September (Sept. 10 and Sept. 25) to adopt the final millage and budget. She also listed planned transfers from reserves, proposed capital appropriations, estimated operating expenditures, and a proposed capital program that includes $52 million in capital appropriations (subject to the later removal of vetoed grants).
Public comment at the hearing focused largely on separate agenda items and capital priorities; staff and commissioners agreed to provide additional scenario analyses and suggested line-item options by Aug. 1 for commissioners who wanted to examine specific millage reductions.
The commission will return in September for two formal hearings to adopt a final millage and the FY26 budget.
