The Real Deal Miami

Boca passes budget

September 26, 2008 04:22PM

Many Boca Raton residents will pay less in property taxes — but higher utility fees — under a budget package approved by the city council. The $114.2 million budget passed unanimously, as did a property tax rate of $3.02 for every $1,000 of assessed value. The city will collect an additional 29 cents for every $1,000 of assessed value to pay off voter-approved debt. The city’s plan accounted for less in property tax revenue due to a decline in property values and Amendment 1, the voter-approved measure passed earlier this year that aims to restrict local governments’ tax rates.