MADEIRA BEACH — Despite spending more than $10 million on a new city hall, fire station and recreational complex in recent years and $9.7 million in new general fund spending planned for next year, the city’s proposed property tax rate remains unchanged.
Nonetheless, property owners will be paying a total of $2.263 million from property taxes — an aggregate 9.72 percent more than this year, thanks to increased property values.
City officials are proposing a rate of $2.20 per $1,000 of assessed, taxable property. A resident with a home valued at $150,000 with a $50,000 homestead exemption would pay $220 in city taxes.
