VILLAGE OF INDIANTOWN, FLORIDA RESOLUTION NO. 008-2026

A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF  INDIANTOWN, FLORIDA, ADOPTING A FINAL MILLAGE RATE FOR THE LEVY OF AD VALOREM TAXATION FOR FISCAL YEAR 2026-2027; AND PROVIDING FOR SEVERABILITY AND EFFECTIVE DATE.

On July 23, 2026, the Village Council approved the proposed millage rate to be transmitted to the Property Appraiser for inclusion in the TRIM Notices. On August 27, 2026, the Village Manager and Finance Director presented the proposed FY2026-2027 budget to the Village Council.

The Final Millage Rate of 1.8250 mills is expected to generate an increase of $149,230 in ad valorem revenue, based on a 95% collection rate. Maintaining the prior-year millage rate of 1.8250 mills represents a 2.9% increase over the computed rolled-back rate of 1.7736 mills.

The FY2026-2027 Final Budget includes $8,152,040 for the General Fund, including $562,000 in capital improvements for Parks, such as soccer fields, Bid Mound Park building renovations, and new fencing at Booker Park, as well as $648,000 in capital improvements for Public Works, including roads, streets, and drainage. In addition, Public Works includes $70,000 for capital outlay for machinery and equipment, bringing the total Public Works capital outlay to $718,000.

The Final Budget also anticipates $1,448,000 in collections for the Mobility Fee and Discretionary Sales Tax Special Revenue Funds and includes $35,340,200 for the Water & Sewer Enterprise Fund. The Water & Sewer budget includes $32,000,000 for ongoing capital improvements, including wastewater improvements, improvements to the existing water plant, and construction of the new reverse osmosis water plant. The budget also includes $200,000 for capital outlay machinery and equipment within the Water & Sewer Enterprise Fund.

This represents a total budget of $44,940,240 across all funds, which is an increase of $3,037,955 over the FY2025-2026 adopted budget. The increase is primarily attributable to the inclusion of State and Federal funding for the construction of new water and wastewater infrastructure.

The FY2026-2027 Final Budget includes an additional 1.50 Full-Time Equivalent (FTE) positions for Park Rangers within the Parks Department. With the addition of the Public Works/Utilities Project Engineer position, the Village’s total personnel complement will be 45.0 FTEs.

The proposed Fiscal Year 2026-2027 Final Budget reflects an improvement in ad valorem revenues following declines in three of the five preceding fiscal years. This history highlights the volatility of the Village’s tax base, which is significantly influenced by tangible personal property, representing more than 84% of the Village’s total taxable value.

For Fiscal Year 2026-2027, the Village is projected to realize a 2.9% increase in ad valorem revenue; however, projected revenue remains approximately 1% below the 2024 tax roll for Fiscal Year 2024-2025. Additional taxable value from new construction is anticipated to be added to the tax roll in 2027, with a significant portion of the anticipated growth associated with new residential development.

Future ad valorem revenue growth may also be affected by Amendment 3, which is scheduled to appear on the November 2026 general election ballot. If approved by voters, the amendment would increase the homestead exemption applicable to non-school taxes beginning in 2027, which could reduce the taxable value of qualifying homesteaded properties and affect future ad valorem revenue projections for the Village.

Staff recommends that the Village Council approve the Final Millage Rate of 1.8250 mills for Fiscal Year 2026-2027.