On Tuesday, July 16, The St. Johns County Board of County Commissioners approved the proposed millage rates for fiscal year 2025. For the fifth consecutive year, the rate remains flat, though increases in property values will result in increased tax bills.
The vote was 4-1 with Commissioner Krista Joseph opposing passage. She argued that the board should consider approving the rolled-back rate instead of the proposed rate. The rolled-back rate would generate the same revenue in terms of dollars as last year, which would not necessarily account for inflation or accommodate new expenses.
Commissioner Henry Dean expressed agreement with Joseph’s concerns but, since the rate can be lowered but not increased after approval, supported the proposed rate for the time being.
The $1.2 billion budget is actually a reduction from last year’s $1.67 billion spending plan.
The proposed aggregate rate is $6.83 per $1,000 of taxable value, of which $4.65 is for the general fund. The aggregate rolled-back rate is $6.38 per $1,000 of taxable value, of which $4.32 would be for the general fund.
The proposed rate would bring in $40.8 million ($27.9 million for the general fund). The rolled-back rate would bring in $15.7 million ($10.9 million for the general fund), a reduction of about $25 million to fund the budget as presented.
There has been a 13.2% increase in taxable value over the past year, according to calculations by the St. Johns County Property Appraiser’s Office, which is why the rate, while remaining flat, will generate more tax revenue. Still, due to the state’s Save Our Homes provision, homesteaded property owners will experience only a 3% increase over last year. Non-homesteaded property tax increases are capped at 10%.
If the rate is ultimately approved, the owner of a homesteaded property valued at $500,000 would see a tax bill of about $3,074 in 2025.
The board unanimously authorized completion of the budget and set the first public hearing at 5:01 p.m. Sept. 3 in the county auditorium. Once adopted, the budget will go into effect Oct. 1, 2024.
For further information, go to sjcfl.us/departments/office-of-management-and-budget.
