Photo courtesy of cdcloans.com

WEST PALM BEACH, Fla. – Despite facing budget issues, the Palm Beach Town Council has decided to keep the rate for property taxes for the next fiscal year.

During a recent budget workshop, council members identified funding shortages for future capital improvement projects and emergencies such as hurricanes, but assured residents the rate will stay the same.

According to the Palm Beach Daily News citing the preliminary estimate from the Palm Beach County Property Appraiser Office, the town’s property tax rate is $2.61 per $1,000 of taxable value, which would increase by $6.1 million to $85.8 million, driven by a 7.5 percent average increase in taxable property values.

The town’s proposed budget is $124.7 million for the next fiscal year, which begins October 1, 2025.

Council members will adopt a final tax rate and budget during two hearings in September.

They can lower the rate but mostly likely won’t, citing the budget issues.