Boca Raton council adopts 2026 downtown special assessment with lower rate

The Boca Raton City Council on Sept. 8 unanimously adopted Resolution 1 29 20 25 to equalize and adopt the 2026 Downtown Special Assessment, setting the assessment rate at 0.001 for properties within the Downtown Special Assessment District.

The special assessment funds debt service and administrative costs for the city's downtown special assessment revenue bonds and is charged only to properties the city determined receive a special benefit from downtown infrastructure improvements, Special Projects Manager Steven Timberlake told the council. "The assessment rate for 2026 is 0.001, a reduction of a little over 5 and a half percent from 2025," Timberlake said, attributing the decline to rising property values.

Timberlake explained the assessment is calculated by dividing the total required bond payment by the total downtown market value using the most recent certified tax roll from the Palm Beach County Property Appraiser (the 2024 roll). He said downtown market values rose about 6.5% year over year and that the total value of benefited properties has passed $3.3 billion. Using the city's example, an average $500,000 downtown property would see a 2026 assessment of about $50, compared with $53 in 2025 and $58 in 2024.

Timberlake showed a historical chart of the assessment rate and noted that one bond was retired in 2022 and one bond remains, scheduled to retire in February 2030. He said the city received no objection letters for the sixth consecutive year and recommended adoption of the resolution.

The council opened the public hearing and invited comments; no members of the public came forward. After closing the hearing, a council member moved to adopt the resolution, the motion was seconded, and the council approved the resolution by roll call: Council Member Drucker, yes; Deputy Mayor Nacklis, yes; Council Member Thompson, yes; Council Member Wictor, yes; Mayor Singer, yes.

The resolution directs the city clerk to record assessments in the improvement lien book, establishes priority of lien and payment terms for principal and interest, and provides severability and an effective date as stated in the resolution text. The council did not amend the proposed assessment rate during the meeting and gave no additional direction to staff.

The adopted assessment will appear on the 2026 special assessment roll, which the city said reflects market values and the pro rata share for each parcel; the total special-assessment amount required to pay bond obligations does not change, only each parcel's share. Timberlake said staff would provide further details to affected property owners as required by the assessment process.

No public comments or objections were recorded during the hearing. With no further business, the special meeting was adjourned at 2:09 p.m.