MONROE COUNTY ADOPTS FISCAL YEAR 2023 MILLAGE RATE AND RECOMMENDED BUDGET AT FINAL HEARING; HAS LOWEST MILLAGE RATE IN FLORIDA

​The Monroe County Board of County Commissioners met last night to adopt the proposed $519.7 million Fiscal Year 2023 (FY23) budget. The budget includes the Board of County Commissioners, the constitutional officers, like the Sheriff's Office, Tax Collector, Property Appraiser, Supervisor of Elections, and Clerk of Court, and other appropriations for the Tourist Development Council, capital projects, and reserves. Monroe County has the lowest millage rate in Florida and has continued this trend for many years.
 
FY23 budget highlights:

• A decrease in the proposed FY23 aggregate millage rate by 4.2 percent from 3.3748 to 3.2326. A homesteaded residential property owner with an average appraised assessed taxable value of $469,161 in 2022 will see a $0.66 monthly decrease in their property tax for the FY23 year. The taxable value is different from the market value.
• Reflects a property value increase with a total value of $36.8 billion, another historic high. Property values have doubled in the past 10 years.
• Reflects continued investment in roads and bridges, resilience adaptation, facilities, and public safety infrastructure. A number of notable capital projects are funded in whole or in large part with non-local funding.
• Funds expanded recreational facilities, including upgrades and amenities to existing parks and expanded library services.
• Funds higher operational costs like CPI-based increases for vendor contracts, higher cost of fuel, supplies, and materials, higher utility and property insurance costs, and higher personnel costs.
• Provides more than $2.1 million in funding for 26 community-based nonprofit organizations.

                      
The Monroe County Office of Budget and Finance provides coordination and development of the budget that will go into effect Oct. 1, 2022. The award-winning office continues to work with inflation issues, Hurricane Irma, and COVID-19 impacts while providing for the department's daily operations, program enhancements, capital projects, and infrastructure improvements.
 
For more information about the budget and budgeting process, visit www.monroecounty-fl.gov/budgetandfinance.
 

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