Port St. Lucie’ s Strategic Plan goals.
BUDGET FISCAL YEAR
25 / 26
The 2025 certified taxable value increased by 12.95 %
Tax Base DEBT REDUCTION
121 SW Port St. Lucie Blvd., Port St. Lucie
STORMWATER over 2024 certified value, because of increased growth and, FL 34984 STAFFING | CityofPSL INCREASES. com FOR FY 25 / 26:
Increase property appreciation, from $ 22.7 billion( FY24 / 25) to Stormwater Fee will increase by $ 6 for a Employee increases are directly related to continued
The City’ s long-term $ 25.6 billion debt( FY25 has / been 26) as reduced of July’ s certification as a. total of $
Operating
189 for residential
Millage and $ 141.75
is reducing result of principal payments The Fiscal and Year refinancing 25 / 26, when Adopted Budget for allocates vacant property from resources.
4.6807 growth to to 4.6607 support in the City.. appropriate MILLAGE, from RATE a high of more than $ Port 1.042 St billion. Lucie in’ s Strategic Plan goals.
Millage debt rate in is FY the 09 tax / 10 rate to per a projected $ 1,000 of taxable $ 681 property million value for. The City’ s
SOUTHERN GROVE adopted Operating Millage
FY 25 / 26 based BUDGET
rate is 4.6607 per thousand for FY 25 / 26. The upon the estimated principal
CAPITAL Southern Grove IMPROVEMENT debt and tax PROJECTS adopted total millage rate is 4.9750. This is the tenth year the millage rate is payment STORMWATER reduced to $ 1.9 million, reduced payments. FISCAL. This YEAR represents a 34.7 % reduction in
The which City is supported is prudently by the planning Crosstown projects Voter while Debt slightly debt over the 1 MILpast 216 MILyears 3 MIL. 4 MIL 5 MIL GENERAL
6 MIL decreasing Governmental the Finance current Fund debt. load. Projects planned over
Reduced
FY 20 / 21 5.9000 the five-year period are projected to cost $ 725.8M. Total City Debt
FY 21 / 22 5.6000 SOLID WASTE
25 / 26
10,000,000 FY 22 / 23 5.3000
The UTILITY Solid Waste SYSTEM Assessment Fee FACILITIES will
STREET
FY 23 / 24 5.2000 increase UPGRADES to $ 467.33 per contractual MAINTENANCE RESURFACING
$ 800,000 FY 24 / 25 5.05502.44 obligations % with the City’ s solid waste
FY 25 / 26
INCREASE
4.9750 vendor
$ 334.9M
& land disposal fee adjustment
$ 33.7M $ 42.3M
$ 600,000
FROM FY 24 / 25
$ 5.1M INCREASE by St. Lucie County. Assessed impact DUE of millage TO INFLATION reduction on AND City taxes for a median home with a OVER FY 24 WALTON & ONE, TORINO &
OTHER / 25
SIDEWALK
$ 400,000
TRADTITION Operating REGIONAL PARKS Millage homestead exemption CAPITAL increased PROJECTS by the Save Our Homes law limit of 3 % UTILITY PROJECTS SYSTEMS
PROJECTS & O. L. PEACOCK PARK
$ 200,000
TOTAL FY 24 / 25 BUDGET Tax Year FY 25 / 26 Assessed FY 25 / 26 Tax Year
The Utility Operating System is
TOTAL BUDGET
City Taxes Value
City Taxes increasing $ 238.7M the water rate by $ 56.6M $ 11.7M Operating 3.5 %, Millage is reducing
$ 0 $ 869,811,393
$ 212,526,705 while sewer rate remains the same. Assessed Value
$ 242,980 $ 250,026
$ 250,026 2010 2018 2019 2020 2021 2022 2023 2024 2025 2026E from 4.6807 to 4.6607.
Exemption Amount $ 50,000
$ 50,722 $ 50,722
$ 550 $ 493
2.21 %
INCREASE FROM FY 24 / 25 DUE TO INFLATION AND CAPITAL PROJECTS
$ 384 $ 348
Taxable Amount
Tax Base Increase
City Total Millage Rate
( Per $ 1,000 of value) Total City Taxes per Year Difference with Adopted
Millage Reduction
TOTAL BUDGET $ 869,811,393
2.21 %
$ 372 $ 383
$ 353 $ 363
$ 371 $ 383
MILLAGE RATE
$ 347 $ 355
$ 335 $ 319
$ 318 $ 302
$ 299 $ 283
$ 280 $ 401
Crosstown Voter Debt
Reduced Reduced
The voter-approved debt service millage for Crosstown Parkway is reducing to 0.3143 in FY 25 / 26 from 0.3743 for FY 24 / 25.
The City Manager’ s
TOTAL BUDGET Operating Millage is reducing
ADOPTED $ 212,526,705 BUDGET IN from 4.6807 BRIEF to 4.6607.
Operating Millage
FY 2025 / 26
FUND
The 5.055 2025 certified 5.055 taxable value increased 4.9750 by 12.95 Median % market value for
STORMWATER over 2024 certified value, because of increased growth a single-family and home in property $ 975.51 appreciation
$ 1,007.48
, from $ 22.7
$ 991.54
billion( FY24 / 25) to Port St. Lucie Stormwater Fee will increase by $ 6 for a
($ 15.94)
$ 25.6 billion( FY25 / 26) as of July’ s certification. total of $ 189 for residential and $ 141.75
$ 342,800 for vacant property.
Millage rate is the tax rate per $ 1,000 of taxable property value. The City’ s adopted Operating Millage rate is 4.6607 per thousand for FY 25 / 26. The adopted total millage rate is 4.9750. This is the tenth year the millage rate is reduced.
1 MIL 2 MIL 3 MIL 4 MIL 5 MIL 6 MIL FY 20 / 21 5.9000 FY 21 / 22 5.6000 FY 22 / 23 5.3000 FY 23 / 24 5.2000 FY 24 / 25 5.0550 FY 25 / 26 4.9750
Assessed impact of millage reduction on City taxes for a median home with a homestead exemption increased by the Save Our Homes law limit of 3 %
Assessed Value Exemption Amount
Taxable Amount City Total Millage Rate
( Per $ 1,000 of value) Total City Taxes per Year Difference with Adopted
Millage Reduction
$ 192,980
FY 24 / 25 Tax Year City Taxes
$ 242,980 $ 50,000 $ 192,980 5.055
$ 975.51
GENERAL FUND
$ 199,307
2.44 %
$ 5.1M INCREASE OVER FY 24 / 25
Although the median market value of an average single-family home in PSL is $ 342,800, the median assessed value by the County Property Appraiser is $ 250,026. The assessed value is used to determine the annual property tax.
FY 25 / 26 Assessed Value
$ 250,026 $ 50,722 $ 199,307 5.055
$ 199,307
$ 1,007.48
Crosstown Voter Debt
The voter-approved debt service millage for Crosstown Parkway is reducing to 0.3143 in FY 25 / 26 from 0.3743 for FY 24 / 25.
Operating Millage
FY 25 / 26 Tax Year City Taxes
$ 250,026 $ 50,722 $ 199,307 4.9750
$ 991.54($ 15.94)
Although the median market value of an average single-family home in PSL is $ 342,800, the median assessed value by the County Property Appraiser is $ 250,026. The assessed value is used to determine the annual property tax.
SOUTHERN GROVE
Southern Grove debt and tax payment reduced to $ 1.9 million, which is supported by the Governmental Finance Fund.
SOLID WASTE
The Solid Waste Assessment Fee will increase to $ 467.33 per contractual obligations with the City’ s solid waste vendor & land disposal fee adjustment by St. Lucie County.
UTILITY SYSTEMS
The Utility Operating System is increasing the water rate by 3.5 %, while sewer rate remains the same.
Median market value for a single-family home in Port St. Lucie
$ 342,800