Village of Key Biscayne officials will examine, publicly, for the first time, how the Fiscal Year 2026-27 budget might look like when they will present the Budget Estimate at Tuesday’s 6:30 p.m. Budget Workshop meeting in Council Chambers.

The meeting is open to the public and available to view live on VKB-TV.

Among some of the highlights residents will hear:

– The total operating budget is estimated to be $43,056,510 or $1,682,786 (4.1%) higher than the last cycle.

– But, with debt service and transfers out, the total is $44,449,897, which is $966,193 less (-2.1%) than FY 2025-26.

– Police services are expected to account for $12.2 million (27.6%) of the budget, while Fire Rescue services come in at $11.4 million (25.7%). Parks, Recreation, the Community Center and athletics are next at $7.6 million (17.1%).

In addition, there are 34 proposed Capital Improvement Projects lined up (14 new and 20 continuing), from a new fire engine and police boat to lights a Calusa Park, accounting for $64.1 million, of which $22.8 million should be covered in grants; $21.7 million from the General Obligation Bond fund; $6.9 million from the General Fund; and $12 million from Rollover Funds.

The two biggest drivers are $26,988,182 to reduce flooding and $10,416,191 for public safety.

The Village maintains “healthy” reserves of $27 million with an available debt capacity of $117 million.

With a cautious eye looking ahead to possible property tax reform (that vote is in November), the Village’s property values are on the rise, meaning a 4.2% increase in taxable value (ad-valorem taxes) from the prior year would help contribute to an estimated 3.8% rise in proposed revenues ($47,133,801) across the board.

The estimated proposed millage tax at this early stage (even before Budget Hearings 1 and 2) is 3.0066 a 4.2% difference than the current 2.8846.

There’s a 6:15 p.m. meeting, too

At 6:15 p.m., a Special Council meeting will take place in Council Chambers on three specific issues.

* First is a resolution to approving and accepting a public access easement and dedication agreement with the Island House Apartments, Inc. at 200 Ocean Lane Drive.

* A Capital Project authorizing the Village to select V&G Constructions Solutions Corp. for the Harbor Drive milling, resurfacing and roadway reconstruction project in an amount not to exceed $2,384,688.

* A resolution to select various consultants, pursuant to request for qualifications, for continuing architectural, engineering and planning services.