City adopts Fiscal Year 2021-22 Budget, Tax Rate

CITY ADOPTS FISCAL YEAR 2021-22 BUDGET, TAX RATE

The City of Nassau Bay maintains a balanced budget in accordance with the City’s Financial Principles – these include advancing the City’s priorities while maintaining core services, providing cost-effective service delivery, and making targeted investments in public safety and infrastructure.

During their September 13 meeting, City Council approved the Fiscal Year 2022 Annual Budget. This year’s General Fund (maintenance and operations) budget is $6,436,020 and the total budget for all funds is $24,436,210.

During a special workshop on September 27, Council approved the tax rate for Tax Year 2021 (Fiscal Year 2021-22). The adopted Tax Rate is $0.722120 per $100 valuation, the same tax rate as the current fiscal year. Ad valorem (property) tax will fund a portion of the maintenance, operations, and debt service in the FY 2022 Budget. On a home valued at $200,000, the average homeowner will pay around $117.34 per month in property taxes to the City of Nassau Bay. The Fiscal Year 2022 Annual Budget funds a total of $8.3 million in capital projects. These projects include several improvements and rehabilitation projects to the water and wastewater system, street paving, parks projects, public safety and more. The detailed list of projects can be found in the budget.

For more information on the budget, tax rates, and upcoming capital projects, visit www.nassaubay.com/budget.