The Boca Raton City Council approved the 2020-2021 budget at its final budget hearing on September 21, 2020. The total operating budget is $507.2 million, and the millage rate will stay the same as last year: 3.68. Boca Raton continues to have one of the lowest property tax rates for a full-service city in the State of Florida.
Although the millage rate is just slightly lower than last year (3.6787 to 3.6786), some homeowners may see an increase in property taxes because the average assessed home value has increased by 4.75%. The new millage rate and budget go into effect October 1, 2020.
For FY 2020-2021, 8% of the property tax revenues will be allocated to the Capital Improvement Program, which is the City’s plan for infrastructure improvements and equipment acquisitions over the next six years.
Highlights of the 2020-2021 Capital Improvements Program include:
- 8.3 million for Wildflower /Silver Palm Park
- 5.4 for Lake Wyman Rutherford Park
- 3.3 million in pavement/roadway resurfacing
- 1.8 million for school roadway improvements
- 3.5 million for Sand Pine Park
- 5 million for traffic improvements, street lighting, street signs and signal mast arm upgrades
- 2.8 million in drainage improvements
- 4.3 million for Gumbo Limbo tanks and boardwalk
- 1.1 million for sidewalk repair programs
- 1.4 Boca Raton inlet and jetties
Maintaining a balanced budget, planning for the long-term impacts of growth and preparing for a financial downturn, are the fundamentals that keep Boca Raton a Financially Sound City.
The approved budget supports the goals and priorities of the City Council and maintains the City’s outstanding service levels and AAA bond rating. The goals and priorities for FY 2020-2021 remain the same due to unexpected challenges relating to coronavirus, which required staff resources for over six months.
Goals:
- Financially Sound City
- World Class Municipal Services
- Strong partnership with the Community
- Vibrant and Sustainable City
Priorities:
- Innovation technology business hub
- Financial plan to address long-term impacts of growth
- Preparation for next financial downturn
- Government Campus Master Plan
- City services and staffing
- Public school's safety infrastructure
- Public school's strategy advocacy and actions
- Partnership with Greater Boca Raton Beach & Park District
- Florida Atlantic University: Town & Gown
- Partnerships with other local institutions
- Comprehensive traffic and connectivity planning
- Explore Midtown Planning opportunities
- Revisions to Land Development Code
- Downtown Design Guidelines /IDG/Pattern Book/4035
- Sustainability Action Plan
The Final Budget Hearing presentation and discussion can be viewed on the City’s website. Budget details can be found in the Proposed Budget and the Proposed Capital Improvements Program (CIP). The final budget documents that include approved changes from the final budget hearing are being prepared and will be available to the public.
