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City Manager Sarges presents FY2026 proposed budget, cites rising property values and a proposed 7.40 millage
Summary
City Manager Sarges presented a proposed FY2026 budget of roughly $157 million, citing an 8.35% rise in taxable value to $2.698 billion and proposing a 7.40 millage rate that would require four of five votes at the scheduled public hearing.
City Manager Sarges presented the City of North LauderdaleFY2026 proposed budget, saying taxable property values rose about 8.35% year over year to $2,698,000,000 and that the increase should generate additional revenue without raising the millage rate. He put the proposed millage at 7.40 and said that the rollback rate is 6.8458; the proposed rate would generate about $18.9 million, compared with roughly $17.5 million under the rollback calculation.
"Last year, our taxable value was 2,490,000,000, and it increased by 8.35% to $2,698,000,000," Sarges said, and he told commissioners the proposed rate will fund the FY2026 budget. He also reminded the commission that "we need 4 votes out of 5 to adopt the tax rate" at the public hearing scheduled for 5:01 p.m.
Sarges summarized the citywide budget totals and financing approach: the proposed citywide budget is roughly $157.0 million, an increase of about $2.4 million from the prior figure, with the general fund rising to about $54 million. He said the budget would rely in part on the use of fund balance and on higher interest earnings and intergovernmental revenue to balance additions proposed in the general fund.
The presentation concluded with Sarges offering to provide corrected slides where decimal formatting in pie charts and percentages had obscured exact shares. The commission opened the floor to questions and a brief public comment before adjourning and reconvening for the tax-rate hearing at 5:01 p.m.
