The taxable value of properties in Wilton Manors has gone up for the fifth year in a row.
That’s according to preliminary report by the Broward Property Appraiser’s Office. The official number will be released July 1. The 8.93 percent increase resulted in a jump of citywide taxable property value from $1,085,596,166 in 2015 to $1,182,590,907 in 2016.
“That’s a $100 million property value increase. That’s meaningful for people in many ways,” said Commissioner Tom Green. He added that the city would soon be discussing the impact of the increased value will have on the budget and millage rate. The city could increase its budget depending on a number of factors, such as the level it sets its millage rate at. “We’ll talk about that more as we get into the budget.”
On June 21, the proposed budget will be distributed to commissioners, city departments and the Budget Review Advisory Committee. The first budget workshop will be held July 26 at 6:30 p.m. in the commission chambers. The next Budget Review Advisory Committee meeting will be held July 11 at 6:30 p.m. in the Emergency Operations Conference Room in city hall.
Wilton Manors’ taxable value has increased every year since 2012. The last year of decline was 2011 when the drop was 2.9 percent. At that time, the city’s total taxable value was $856,127,054.
Parkland had the highest increase at 10.84 percent. Fort Lauderdale saw a 9.57 percent increase and Oakland Park saw an 8.55 percent increase.
For a full list of budget meetings, visit WiltonManors.com/documentcenter/view/1727.