The West Palm Beach City Commission gave preliminary approval to the city’s $264 million general fund budget for fiscal year 2025, which holds property tax rates steady while including raises for police and fire employees as well as for other unionized city workers.
Tuesday night’s unanimous vote moves the budget to a final budget hearing on Sept. 25. The new fiscal year begins Oct. 1.
With property values continuing to rise — at $23.4 billion, taxable values were up about 11% over fiscal year 2024 — the city could have pursued what would have been a third straight reduction in property tax rates. Instead, commissioners voted to keep the property tax rate, known as the millage rate, at just over $8.13 per $1,000 in taxable value.
The average home value in West Palm Beach is $406,942, according to Zillow. A resident who owns such a home can expect to have a property tax bill of $2,902. That figure includes a homestead exemption but does not include additional costs for debt and public service. Some seniors in West Palm Beach qualify for an additional homestead exemption, which would further reduce the taxable value of their home and lower their property tax bill.