News Flash

City of Homestead News

Posted on: September 2, 2022

City of Homestead to Present FY 2023 Budget with Increased Services and Decreased Millage Rate

City Hall Palms

On September 6, 2022, the City of Homestead will present a proposed budget for Fiscal Year 2023 that provides increased services to residents along with a one percent reduction to the tax rate.  The reduction will result in tax relief to residents while still providing additional front-line personnel to the Parks & Recreation and Police Departments.  In addition, the City will allocate increased funding towards Development Services, the City’s department dedicated to permitting, zoning, and business development.  

More About the Budget

Every year the City of Homestead prepares a proposed operating budget that consists of expenditures and the means of funding them to be approved by the Mayor and City Council. The proposed budget is based on the millage rate, also known as the tax rate, which represents the amount to be charged in taxes per every $1,000 of a property's assessed value. Assigned millage rates are multiplied by the total taxable value of the property in order to arrive at the property taxes.   In addition to the City’s millage rate, the overall property tax bill is made up of various tax rates related to services like fire rescue, schools, and water management.

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