COMMISSIONERS DISCUSS FISCAL YEAR 2026 AT BUDGET WORKSHOP; APPROVE MILLAGE RATE

MONROE COUNTY, FL – The Monroe County Board of County Commissioners met yesterday to discuss the proposed $678.5 million Fiscal Year 2026 (FY26) budget that begins Oct. 1, 2025. The budget includes the Board of County Commissioners, the constitutional officers, which includes the Sheriff, Tax Collector, Property Appraiser, Supervisor of Elections, and Clerk of Court, and other appropriations for the Tourist Development Council, capital projects, and reserves. Each entity has its own independent budget within the total budget.
 
Monroe County Administrator Christine Hurley, Assistant Administrator Tina Boan, and Budget and Finance’s John Quinn presented the proposed budget, which includes FY26 estimates of residential real estate trends, taxable property values, decreasing sales and bed taxes, and state-shared revenues, along with fund balances, reserves, and the general fund conditions.
 
At the meeting, the board approved additional budget reductions in the amount of $2 million, which includes removing additional vacant positions, withdrawing from the Southeast Florida Regional Climate Compact, discontinuing Conch Connect, and implementing other operating cost reductions. During the meeting, the board also approved an increase to the countywide millage rate to generate an additional $2 million for emergency reserves to add $4 million in additional emergency disaster reserves in the event of a hurricane or other disaster. This action occurred after the finalization of the FY26 recommended budget and budget book process, as presented. Due to this, the FY26 recommended budget includes corrections that will be updated for the first public budget hearing on Sept. 3, 2025.
 
Key FY26 Budget Points:

• Total FY26 Proposed Amended Budget of $680,571,447 which reflects a reduction of $34,142,738 from the FY25 Adopted Budget of $715,714,185
• $13.6 million in county efficiency cuts resulting from budget roundtable meetings
• Raises the FY26 aggregate millage rate to 3.3965, 0.6% above the FY25 aggregate rate of 3.3779, likely to be the lowest in the state again.
• Investments in public safety:
  • Compensation increases for EMS and law enforcement personnel to attract and retain a qualified workforce
  • Construction of a new fire station on Sugarloaf Key
  • Various maintenance and improvement projects to the Monroe County Detention Center
  • Building emergency reserves by $4 million due to the uncertainty of FEMA participation in disaster recovery. This will increase reserves to $14 million, which hasn’t been increased since its original implementation in 2008.
• Measures to improve government efficiency, being guided by the State Department of Government Efficiency (DOGE) through departmental consolidations and mergers, staff reductions, and cuts to non-core services.
• The budget continues to include $1.1 million for Human Services Advisory Board funding for local nonprofit organizations.

 
With the proposed budget and countywide average property values, a homesteaded residential property owner with an average appraised taxable value of $516,750.46 will see a $5.30 monthly increase in their countywide property tax for FY26. Of the total taxable value in Monroe County, 19.4 percent is from homesteaded properties. Non-homesteaded residential properties comprise 59.8 percent of the total taxable value. A non-homesteaded property with a taxable value of $1,015,180.32 would see a $24.08 per month increase in countywide property tax. Commercial property and vacant land represent 17.3 percent and 3.5 percent of the total taxable value, respectively.
 
Of the total budget, $168.7 million is ad valorem (or from property taxes), 69.7 percent of the ad valorem is for public safety (like law enforcement, fire rescue, detention centers, medical examiner, and the health department), and 21.7 percent is for the constitutional officers’ operating costs.
 
FY26 Budget Timeline:

• The First Public Hearing of the adoption of the tentative budget and millage rate will be Wednesday, Sept. 3 at 5:05 p.m. at the Harvey Government Center in Key West.
• The Final Public Hearing will be held on Wednesday, Sept. 10 at 5:05 p.m. at the Murray Nelson Government Center in Key Largo. The BOCC adopts the final millage rate and budget at this meeting.
• Both meetings are hybrid and can be attended in person or via Zoom.

 
The Monroe County Office of Budget and Finance will continue to monitor economic and policy developments throughout the summer and remain prepared to respond as circumstances evolve.

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