Boca Raton council adopts 2026 downtown special assessment; rate falls to 0.001

The Boca Raton City Council on Monday adopted Resolution 1 29 20 25, equalizing and adopting the Downtown Special Assessment for fiscal year 2026 after a brief presentation and a 5-0 roll-call vote.

City staff presented the annual assessment calculation and recommended approval. Special Projects Manager Mr. Brown of the Financial Services Department told the council the assessment funds debt service and administrative costs for special-assessment revenue bonds that paid for downtown infrastructure projects. He said the 2026 assessment rate is 0.001 — a reported reduction of a little more than 5.5% from 2025 — driven by an increase in overall downtown property values.

Mr. Brown said the calculation divides the total bond payment by total downtown market value based on the latest certified tax roll from the Palm Beach County Property Appraiser's Office. He noted the downtown benefit value has surpassed $3,000,000,000 and that one revenue bond remains outstanding with a scheduled retirement in 2030. Using a hypothetical $500,000 downtown property, Mr. Brown said the assessment for 2026 would be roughly $50; he also stated that the city received no objection letters for the sixth consecutive year and recommended the council adopt the resolution.

After closing the public hearing with no speakers, the council moved to adopt the resolution. Council member Wachter made the motion and Council member Nackless seconded. In the roll-call vote the council recorded: Drucker — Yes; Nackless — Yes; Thompson — Yes; Wachter — Yes; Singer — Yes. The motion passed 5-0.

The mayor adjourned the special meeting at 2:09 p.m. and said the council would briefly recess before its regularly scheduled workshop.