Port St. Lucie leaders are set to take a final vote Monday on the city’s nearly $1 billion budget and a lower property tax rate for the upcoming fiscal year.
The City Council is scheduled to consider a proposed overall millage rate of 4.8750, down from 4.9750. The proposed fiscal year 2026-27 budget totals about $971.6 million.
Port St. Lucie leaders to vote on nearly $1B budget, lower property tax rate. CBS12’s Paige Meyer reports.
For homeowners, a lower millage rate does not automatically mean a lower property tax bill.
A mill is equal to $1 in property taxes for every $1,000 of taxable property value. At 4.875 mills, that works out to about $4.88 in city property taxes for every $1,000 of taxable value.
A homeowner’s final bill also depends on the taxable value of the property and taxes charged by other local taxing authorities.
Port St. Lucie leaders to vote on nearly $1B budget, lower property tax rate (wpec)
Monday’s vote comes after city leaders spent the summer tightening the budget amid concerns about possible future losses in property tax revenue.
During a July budget workshop, City Manager Jesus Merejo told council members Port St. Lucie could lose more than $48 million in property tax revenue over two years if a proposed state constitutional amendment is approved by voters in November.
As part of its preparations, the city left 184 requested positions unfunded, worth about $28.3 million. That included 25 proposed police officer positions.
Port St. Lucie leaders to vote on nearly $1B budget, lower property tax rate (wpec)
The city also cut about $7.8 million in planned projects, including a study for a new interchange connecting Marshall Parkway to Interstate 95, an inclusive playground at McChesney Park and parking improvements at Riverland Paseo Park.
The proposed 4.8750 millage rate includes a reduction in both the city’s operating millage and the voter-approved debt millage tied to Crosstown Parkway.
The final budget hearing is scheduled for 5:30 p.m. Monday at Port St. Lucie City Hall, immediately following the 5 p.m. Community Redevelopment Agency meeting. Council members are expected to take second and final readings on both the millage rate and budget ordinances.
The new fiscal year begins Oct. 1.
This is a developing story. Check back for updates.