Monroe County officials met July 16 to work on the proposed $715.7 million budget for the coming fiscal year.
The proposed budget funds the operations of the Board of County Commissioners, the constitutional officers — sheriff, tax collector, property appraiser, supervisor of elections and clerk of court — and other appropriations for the Tourist Development Council, capital (construction) projects and reserve funding.
Each agency maintains its own independent budget within the county’s total budget.
“While there is an increase of $48.4 million in this year’s budget, it is important to point out that only 5% of the Board of County Commissioners’ operating budget increase is supported by property taxes,” Kevin Wilson, the county’s acting administrator, said in a statement after presenting the proposed budget with finance director Tina Boan. “The majority of the other budget increases are paid primarily by other funding sources and not out of your property taxes.”
Using average property values in the county, the proposed budget would mean that owners of a homesteaded residential property valued around $500,000 would see a $2.54 monthly increase in their county property tax bill for fiscal 2025, bringing the annual total county tax bill for homesteaded properties to $1,348, county spokeswoman Kristen Livengood said in a statement.
About 20% of residential properties in Monroe County are homesteaded, meaning they are primary residences and thus are limited in the amount their taxable value can increase each year.
Non-homesteaded residential properties make up about 59% of taxable property in the county. Commercial property and vacant land represent 17% and 4% of taxable value, respectively.
The owners of a non-homesteaded residence with an average value of about $923,000 would see a $17 per month county tax increase.
Of the total budget, $156 million comes from property taxes, which fund most of what it takes to run the county — personnel, law enforcement, fire rescue, parks and beach improvements, services for children, seniors and veterans, trash collection and more.
“The rest of the budget is funded by sales tax, state shared revenues, license and permit fees, fines and forfeitures and service charges,” Wilson said.
Budget highlights:
- County property values have doubled in the past eight years, and rose by 10.6% since last year. The total taxable value of all property in the county is approximately $46.2 billion, a historical high.
- The proposed budget reflects continued investment in roads and bridges, sea level rise resiliency, facilities and public safety, including three new Trauma Star helicopters (spread out over several years), the new emergency operations center, 24 firefighters’ salaries who were paid through a grant for the past three years, a new Sugarloaf fire station, a replacement fire truck, ambulance and two fire rescue boats.
- The budget covers increasing prices for vendor contracts, fuel, materials, utilities, property insurance and personnel.
- The proposed budget provides more than $2.2 million in funding for 30 community-based nonprofit organizations.
- A dozen full-time vacant staff positions were eliminated from the budget, a savings of $1.3 million.
- Sixteen capital projects, with a total cost of $110 million, will receive $66 million in grant funding.
What’s next
- The first public hearing for the adoption of the tentative budget and millage rate is Wednesday, Sept. 4 at 5:05 p.m. at the Harvey Government Center in Key West.
- The final public hearing is Wednesday, Sept. 11 at 5:05 p.m. at the Murray Nelson Government Center in Key Largo. Commissioners will adopt both the final millage rate and budget at this meeting. Both meetings are in person or Zoom.
