The Monroe County Board of Commissioners this week approved its $667 million budget for the upcoming fiscal year, which begins in October.
Under the new budget, a Monroe County residential property owner will pay a millage rate of 2.7191, or $271.91 per $100,000 of value. That's up from last year's millage rate which was 2.5218, according to Florida Department of Revenue records.
County officials said a residential property owner with an average appraised value of $484,735 will see an $11.24 monthly increase in their property tax bill.
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That's because property values in Monroe have doubled in the past decade to a total of $41.2 billion.
Budget increases this year include considerable funding for capital projects, including the purchase of Trauma Star Helicopters, construction of a new Sugar Loaf Fire station and Key West International Airport renovations.
At the first budget hearing, the county administrator’s office said the combined price tag for the capital projects would cost roughly $53.7 million. Improvements for the airport alone will cost about $37.5 million.
“We are a little county with big county problems plus 5 million visitors a year,” said Monroe County Administrator Roman Gastesi in a statement. “This budget continues to meet our increased service demands for our residents, sustainability for our future, public safety and more.”
The budget goes into effect Oct. 1.
