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Margate residents will see a decreased millage rate for Fiscal Year 2026.
During the July 9 budget workshop, the commission set a not-to-exceed millage rate of 7.5389, which is less than last year’s rate of 7.5667. The operating millage rate is 7.1171, which has not been increased for seven years, according to Mayor Arlene Schwartz. The lower rate is the result of a lower Debt Service rate.
Only 31 percent of the property taxes residents pay go toward running the city. A significant portion is allocated to Broward County Public Schools and Broward County. Margate’s property taxes are among the lowest in the county, at 26th out of 31 cities, according to Schwartz.
“We are doing a great job with less money because we are fiscally responsible, and we are moving forward to develop the long-promised city center, finally. Great things are happening in Margate,” said Schwartz.
The average assessed value of a single-family home in Margate is $203,617, according to city information. Margate taxes for this owner would be $1,535.05, based on the not-to-exceed proposed millage rate.
The Margate budget hearings will take place on September 10 at 5:01 p.m. and September 17 at 6:00 p.m. at City Hall in the commission chambers.
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