City Moving Forward with $55 Million Budget
Final Hearing Set for Sept. 24
Last updated 9/12/2019 at 1:50pm
Lake Wales City Commissioners will hold their second and final public hearing Sept. 24 to adopt a $55 million budget for 2019-20, with a slightly lower property tax rate.
Commissioners approved the budget at their first hearing Sept.10, with a millage rate of 6.9339, or approximately $6.93 for every $1,000 of taxable property value. This is considered the "rollback rate" that based upon anticipated growth can be expected to generate the same amount of tax revenue as this year. The 2018-19 rate is 7.0438, or about $7.04 per $1,000 of taxable property value. The reduction means a person with...