In a time when it feels like everything gets more expensive by the month, Wilton Manors residents are getting a break: a tax break.
City commissioners voted to reduce the millage rate by 2% and may cut it further. Although the final rate doesn’t need to be fixed until Sept. 30, Florida’s TRIM (Truth In Millage) law requires municipalities to set the property tax rate ceiling early in order to let residents know how much their property tax bill could be.
The final millage rate could be lower.
During a marathon budget workshop and special meeting on July 22, commissioners went over many line items in the budget and weighed in on expenses and revenue, both big and small. They directed city staff to adjust some estimates to the budget. Revenues such as interest earned and fines collected have been very underestimated for several years in a row.
This relief comes after a 10% hike last year, driven by long-overdue increases to police and city staff. Many were leaving for other jurisdictions with better pay. While raises can seem high, it’s important to note that it costs almost as much to recruit and hire new employees.
Wilton Manors taxes make up about 25% of the residents’ total tax bill. So the 2% cut translates to about one-half of one percent of the final bill.
Assuming no further changes, the millage rate will be 6.2912, plus 0.1661 for City Hall bond debt service. The Fire Assessment was set at $351.56 per residential unit, and a special charge for residents of Jenada Isle will be $37.28.
You can read the budget at wiltonmanors.gov.
