— The city’s tax rate is virtually unchanged from last year — but residents here will still be paying more in taxes.
The City Commission has proposed a tax rate of 3.9900 for every $1,000 of taxable value, compared with a rate of 3.9999 last year. But residents will pay more since property values have increased by 6.5 percent.
Because property values went up, officials projected the city would take in an additional $122.8 million, and another $73.6 million from new construction.
Among new expenses outlined in the city’s $25.4 million budget: hiring new employees, giving employees raises of up to 4 percent, replacing the windows at City Hall and remodeling bathrooms at some public facilities. The budget also calls for $3.1 million for a new fire station in “The Wedge” area, and $3 million for three new fields with batting cages and a new concession building at Pine Trails Park.
The public is invited to budget workshops at 6 p.m. Sept. 12 and 7 p.m. Sept. 18 at City Hall.
Officials here say Parkland’s income stream is only going up because of new construction in The Wedge.
The Wedge is a 1,900-acre tract off Loxahatchee Road and south of the Hillsboro Canal. Parkland had annexed 700 acres when the property was transferred from Palm Beach County to Broward County, and annexed another 508 acres last year.
On the initial 700-acre piece, Miami-based Lennar Corp. has sold out of the first 90 single-family homes and townhomes at MiraLago, a 630-unit development at Nob Hill and County Line roads. Residents are expected to begin moving in by November.
The 508 acres annexed later are owned by California-based Standard Pacific Corp., which is building Watercrest at Parkland, a development of 450 homes priced from $410,000 to about $1 million. The grand opening is planned this weekend, said City Manager Caryn Gardner-Young.
In addition, Standard Pacific has another 40 acres in The Wedge under contract, adjacent to the Watercrest project, which has not yet been annexed by Parkland.
Once The Wedge is fully built out, some estimates have Parkland’s population rising by 15,000 people.
“We’re providing Class A services for our residents and we’re running a very tight fiscal ship,” said Mayor Michael Udine.