The Okaloosa Board of County Commissioners unanimously approved holding the line on property tax rates for the eighth consecutive year during a special meeting Tuesday. (see last year)

• County Administrator John Hofstad presented the proposed millage rates for the 2024-2025 fiscal year to the board. 

The property tax millage rate will remain at 3.8308 mills, while the Municipal Services Taxing Unit (MSTU) millage for unincorporated parks and related services will stay at 0.299 mills.

“We have made a commitment over the last decade to hold the line on property taxes in Okaloosa County and are very proud of that,” Hofstad said. “We keep our tax burden low for our residents here in Okaloosa County.”

The approved property tax rate is expected to generate approximately $111 million in revenue, with an estimated collection of $105,407,768 based on a 95% collection rate. This represents a 7.4-7.5% increase in ad valorem tax revenue for the coming year, primarily due to rising property values, according to Hofstad.

• The MSTU millage is projected to bring in about $3.9 million, with an estimated collection of $3,751,806. These funds support unincorporated county parks and the stormwater division of public works.

Hofstad noted that the county’s property values have nearly doubled over the past decade, driving increases in the budget to support various county needs. Despite this growth, Okaloosa County maintains one of the lowest millage rates compared to benchmark and neighboring counties.

The board’s approval sets these rates as the maximum for the upcoming fiscal year. Any increase would require unanimous board support, while decreases are still possible.

Final budget hearings are scheduled for September 3 at 5:01 p.m. in the Crestview courthouse and September 17 at 5:01 p.m. in the county administration building. The county is preparing a $650 million budget for the next fiscal year.