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Boca Raton adopts 2025 downtown special assessment; residents raise parking and valuation concerns
Summary
The City Council voted 5-0 to adopt Resolution 85-2024 equalizing the 2025 downtown special assessment. Staff said the assessment rate fell to 0.00106, the final bond payment is due June 2030, and residents urged more parking, shade trees and a review of some market values.
The Boca Raton City Council voted unanimously on Sept. 9 to adopt Resolution 85-2024, equalizing and approving the 2025 Downtown Special Assessment that funds debt service and administrative costs for special assessment revenue bonds.
Steven Timberlake, special projects manager in the financial services department, told the council the 2025 assessment rate is 0.00106, an 8.3% reduction from the 2024 rate, calculated using the certified 2023 Palm Beach County tax roll. "The 2025 special assessment is calculated based on the latest certified tax roll," Timberlake said, and the roll lists market value, the special benefit and the installment amount due for each property on or before Jan. 1, 2025.
The presentation noted no…
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