PORT SAINT LUCIE, Fla. — Port St. Lucie residents are preparing to pay higher property taxes, despite the city lowering its millage rate for the 10th consecutive year, as soaring property values more than offset the rate reduction.
Barbara Balus of Tradition told WPTV she loves Port St. Lucie, but has concerns about the financial burden.
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“I think my taxes are very high,” said Balus.
The city's newly proposed budget includes a millage rate of 4.97 mills, down from the previous year. However, Michelle Franklin, the St. Lucie County Property Appraiser, explained why homeowners will still pay more.
"Most property owners will see an increase in their taxes, because the value increased, the value that we assessed on January 1 increased more than the reduction of the millage rate," Franklin said.
Port St. Lucie's rapid growth is driving the tax increases. The city's population now sits at 258,575, an increase of 73,443 residents since 2016.
The numbers tell the story of explosive growth. In 2020, Franklin said the taxable value in Port St. Lucie was $11,795,767,510. For 2025, that taxable value has more than doubled to $25,657,621,359.
"Those brand-new properties that are coming on the tax roll, along with existing properties that became more valuable, added to a larger tax roll," Franklin said.
The Port St. Lucie City Council is voting Monday to approve an $869,811,393 budget, up 2.2% from last year. Mayor Shannon Martin said the increase is necessary to provide services to all residents.
"We have more expenses as a result of inflation, as a result of the city growing," Martin said.
Next year's budget allocates more than $200 million for roads and other capital improvement projects.
"We are getting infrastructure in place, getting projects done as much as we possibly can with all the funding that we have, and leveraging all of our resources to do it," Martin said.
The city is looking to add 65 positions, including 20 additional police officers.
The budget will face its final vote on Monday, Sept. 22, at 5:30 p.m. inside City Council Chambers.
