Great news for property owners! City Staff are recommending yet another decrease in Oakland Park’s property tax rate. The proposed fiscal year 2024 budget released in the agenda for the City Commission Meeting on Wednesday, July 19th, 2023, includes a reduction in the operating millage rate from 5.8550 to 5.8362 mills.
If adopted, this would be the City’s lowest millage rate in thirteen years and the ninth millage rate reduction in ten years. By reducing the millage rate for nine of the past ten years, the City has saved taxpayers more than $13.3 million. The debt service millage rate on the City’s general obligation bonds is also decreasing, down 9.1% from this fiscal year, which translates to a $10.32 reduction for the median single-family home.
The recommended budget—at $142 million—is Oakland Park’s largest and most ambitious budget ever. It includes over $26 million for Capital Improvement Projects to enhance the resiliency of our infrastructure and our community, improve recreational opportunities for residents, beautify the City, and more. Including projects currently underway, the five-year Capital Improvement Program represents an investment of over $130 million.
The City Administration developed the FY 2024 budget to meet the Commission’s strategic vision and supports progress to redefine, revitalize, and enhance Oakland Park and its Strategic Plan goals - Financial Stability & Sustainability, Infrastructure Needs, Smart Growth and Development, Community Wellness and Recreation, Public Safety and Community Integrity, Oakland Park’s Identity, and Environmental Stewardship and Sustainability. Over 200 different initiatives are included in the budget that will further these goals.
The community has broadly endorsed the Commission’s consistent leadership in moving the City forward: in 2018, over two‐thirds of voters approved the City’s General Obligation Bond, and a residential survey showed that over two‐thirds of residents feel that the City of Oakland Park is headed in the right direction.
Tune in to the City Commission Meeting on Wednesday, July 19th, at 6:30 p.m. to see a presentation on the proposed budget and learn more. For more information, visit the City website at www.oaklandparkfl.gov.