The Real Deal Miami

Property tax cap hits Palm Beach

April 01, 2009 12:00PM

Mayor Jack McDonald said the Palm Beach budget will be the toughest in 20 years, thanks in part to a statewide cap on property taxes that makes it tough for municipalities to function. State programs cost the town about $13 million, and Palm Beach has an operating budget of $67 million. The housing crash also means a shortfall for the next budget year because of declining revenue from building permits and other fees collected by the Building Department.