Broward County Commissioners Pass Fiscal Year 2023 Budget
The Broward County Commissioners have approved the Fiscal Year 2023 budget which sets the millage (property tax) rate for all general County purposes including debt service at 5.6690, the same as the millage rate last year.
The FY23 budget totals $6.91 billion. The most significant changes for the coming year include an increase in reserves by $10 million for future debt service for county facilities, an $11.77 million reserve for ad valorem tax revenues to safeguard against economic trends over the next two years, and an increase of $11.5 million for the consolidated 911 dispatch system. $1 million has been earmarked for a new Strategic Job Creation Incentive program to focus on creating high wage job opportunities.
To support the General Fund, the certified property tax roll increased 10.74 percent due to high housing market values as compared to the property tax roll in FY22. The FY23 total millage rate has not changed from last year. The County has over $2.8 billion in tax-supported assets that must adequately be maintained in the future. These capital projects create thousands of local jobs and add revenue to local businesses.
The General Fund budgets for Constitutional Officers, including the Broward Sheriff’s Office, Property Appraiser, Supervisor of Elections, and Court of Clerks, increased by $45.1 million.
The County budget funds a variety of quality public services such as emergency operations and preparedness, transportation, environmental protection, medical examiner services, building code enforcement, health services, water and wastewater services, animal care and adoption, programs to assist children, families and the elderly, parks and recreation and money needed to maintain public buildings and libraries.
Broward County government taxes make up less than one-quarter of the overall property tax bill.
The FY23 budget begins on October 1, 2022.