Palm Beach County commissioners on Monday unanimously approved the county’s $3.3 billion spending plan for the budget year that begins Oct. 1.
The budget will hold the countywide property tax rate at this year’s level of $4.99 per $1,000 of taxable value. That tax rate includes a separate levy for voter-approved debt.
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Estimated revenue: $623.1 million, $23.5 million more than this year
Tax rate: $4.99 per $1,000 in taxable value, the same as last year (includes 20 cents per $1,000 in taxable value for voter approved debt payments).
What this means for a homesteaded property owner: The owner of a home assessed in 2012 at $250,000 with a $50,000 homestead exemption paid about $998 in county taxes this year and would pay $21 more in county property taxes next year based on the same $4.99 rate, an increase of about 2.1 percent. That assumes the assessed value of the home grew by 1.7 percent — the maximum allowed this year under state law.