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Coconut Creek outlines conservative FY27 budget plan as state property tax reform looms
Summary
City finance officials told a town hall that taxable values rose 6.51% and property taxes provide roughly a third of general fund revenue; officials warned state tax reform could reduce city revenue and force service adjustments while pursuing grant funding and major capital projects.
City finance officials told residents at a Coconut Creek FY27 budget town hall that the city will take a cautious approach to next year’s budget as uncertainty over state property tax reform could reduce local revenue.
“For this fiscal year, our values increased by 6.51%,” said Peter Gay Lake, the city’s finance director, summarizing recent reassessments and a small amount of new construction. He said property taxes make up about a third of the city’s general fund revenue and are a primary source for public safety, roads, parks and other services.
The finance presentation walked residents through the city’s revenue mix: property taxes at…
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