Fiscal stewardship
Celebrating
a decade of lower tax rates
In 2025, the City of Port St. Lucie marked a major milestone: 10 consecutive years of lowering the property tax( millage) rate.
Since 2015, the rate has dropped by 25 %, saving taxpayers a total of $ 40.2 million. The current rate is at 4.9750 which makes Port St. Lucie’ s millage rate the third lowest among Florida’ s largest cities.
But the City’ s commitment to fiscal responsibility doesn’ t stop there. Over the past decade, Port St. Lucie also has reduced its debt by $ 400 million and improved its credit rating, helping to lower borrowing costs and strengthen long-term financial health.
Strong credit
ratings reflect sound financial planning
In 2025, Port St. Lucie earned continued recognition for its strong financial management. Moody’ s Investors Service upgraded several of the City’ s bond ratings, reflecting improved financial strength and conservative fiscal management:
• Issuer and General Obligation Bonds: Upgraded from Aa3 to Aa2
• Utility Systems Water and Sewer Revenue Bonds: Upgraded from A1 to Aa3
Strong bond credit ratings help keep borrowing costs low, allowing the City to invest more efficiently in critical infrastructure like water and sewer services. It also highlights City Council’ s strategic vision and the Utility team’ s commitment to sustainable, long-term planning.
14 | 2025 City Manager’ s Annual Report