The City of Destin issues a Notice of Proposed Tax Increase due to new residences becoming occupied and to property values increasing.
The current Millage Rate of 1.615 went into effect on October 1, 2015. The City of Destin proposes the same millage rate for FY22.
- Due to the rise of property values going up this equates to 3.75% increase in ad valorem revenues for the City of Destin.
- This helps cover increased labor and contracted service costs, according to the city.
Under Florida Law 193.155, properties are allowed a limit on the amount the assessed value may increase each year, known as the homestead Save Our Homes (SOH) 3% cap and the non-homestead 10% cap.
- Overtime, these caps can reduce the amount of property taxes paid as they are calculated on assessed value.
The City of Destin has tentatively adopted a measure to increase its property tax levy. Last year’s property tax levy:
- Initially proposed tax levy – $9,180,065
- Less tax reductions due to Value Adjustment Board and other assessment changes – $ (4,022)
- Actual property tax levy – $9,184,087
This year’s proposed tax levy – $9,824,917
All concerned citizens are invited to attend a public hearing on the tax increase to be held on Monday, September 20, 2021, 6:00 P.M. at the Destin City Hall Annex, located at 4100 Indian Bayou Trail, Destin, FL 3254.
A FINAL DECISION on the proposed tax increase and the budget will be made at this hearing.
