Lighthouse Point commissioners give tentative approval to higher millage; second hearing set for Sept. 18

City Administrator Corey presented the first of two public hearings on the city's tentative millage rates for the fiscal year beginning Oct. 1, 2024, recommending an operating millage of 4.1329 to support general operations and capital needs. He told the commission that assessed property values rose about 10.5%, and that the proposed rate would increase projected ad valorem revenue by roughly $2.2 million.

The presentation noted the combined city millage represents 23.57% of a typical property tax bill and that other taxing authorities'including Broward County and the school board'also levy taxes. Corey said the additional revenue is intended to cover higher insurance costs, canal dredging (year two), a new ladder fire truck and rescue unit, a pickup truck for public works, and park improvements discussed at an earlier budget workshop.

A commissioner asked whether the 10.5% figure referred to assessed or taxable value; Corey explained the numbers likely reflect July 1 assessed values and clarified how exemptions affect taxable value. After that exchange, a commissioner moved to tentatively approve the recommended millage rates and to set a second public hearing for 6:30 p.m. on Sept. 18 at Lighthouse Point City Hall; the motion was seconded and the commission voted 5-0 in favor.

Under Florida statute, the proposed tax rates will be advertised as a tax increase because the recommended operating levy exceeds last year's rate. City administration said the millage rates and required schedule will be published and the formal adoption will occur after the second public hearing.