I understand your concern! The news of a decrease in St. Lucie County, Florida’s overall tax rate, combined with an increase in property taxes, can be confusing. Here’s some help to clarify this situation for you.
The county’s tax rate will drop to 8.0351 mills, compared to last year’s 8.1045, but that rate is expected to generate an increase in tax revenue due to rising property values. This marks the fifth consecutive reduction in the county’s rate.
The rate would exceed the rollback rate (the rate that would generate the same revenue as the previous year) by 6.52%.
For property owners in unincorporated areas of the county, the county’s rate is expected to make up about 48% of the overall tax bill, with other taxes going to the county, fire district, school district, and other entities.
For those in Port St. Lucie, the county will account for roughly 33% of the tax bill. For Fort Pierce residents, it will be about 31%.
Property owners can see a full breakdown of their upcoming taxes in the TRIM (Truth in Millage) notices mailed to them.
The budget, tentatively set at $795,924,132, is an increase of $35,983,840 from last year, despite the millage reduction.
The budget and millage will require a second vote for final approval, scheduled for September 19.
Why Are Tax Rates Decreasing While Property Taxes Are Increasing?
While it may seem contradictory, these two things can happen at the same time due to several factors:
Property Reassessment: St. Lucie County may have conducted a reassessment of properties. If your property’s value has increased, even with a lower tax rate, the total amount of taxes you owe could still go up.
New Projects and Services: The county may be investing in new projects or services that require additional funding. To cover these costs, property taxes may have been adjusted, even if the overall rate has decreased.
Changes in the Tax Base: The county’s total tax base may have changed. If it has increased, even with a lower tax rate, the county’s total revenue could be higher.
What Does This Mean for You?
Review Your Tax Notice: It’s important to carefully review the tax notice you receive to understand how your total tax amount was calculated.
Contact Local Authorities: If you have any questions or concerns, reach out to the St. Lucie County tax office. They can provide more detailed and specific information about your situation.
Explore Exemption Options: Look into whether you qualify for any property tax exemptions. These exemptions can help reduce the total amount you owe.
How Can You Prepare?
Budget: Adjust your household budget to account for the increase in property taxes.
Appeal: If you believe your property’s valuation is incorrect, you can appeal to the tax review board.
In short, even though St. Lucie County’s overall tax rate has decreased, the increase in property taxes may be due to several factors, such as property reassessment or new projects.
It’s important to stay informed about the specifics of your situation and take the necessary steps to protect your financial interests.
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