Property tax rates in St. Lucie County could be going down if millage rate declines again

ST. LUCIE COUNTY, Fla. (CBS12) — Property values on the Treasure Coast are soaring, and so are homeowner’s taxes. But in St. Lucie County they’re trying to prevent the middle class from having to pay more.

Everyone wants to see their home increase in value, but not when it comes to taxes. The county uses something called a millage rate to help determine how much each homeowner is required to pay. For the fourth year in a row – to help alleviate the mounting costs – St. Lucie County is considering lowering that rate.

Erick Gill, the St. Lucie County Communications Director, says keeping the area affordable likely means lowering the millage rate.

“It’s very likely that it’ll be lowered once again, the amount of the lowering will depend on where we end up through the budget discussions,” he said.

The millage rate is used to help determine the taxes on your home.

Shaving just a small percentage can have a profound impact on some households, especially when all the other variables that impact property taxes are going up.

“Because of the increase in property values, some residents may end up paying more in taxes this year than they did last year,” Gill added.

Keeping homes affordable is a difficult balance. However, as more people move to the area, more taxes are brought in, lessening the burden on taxpayers.

“Your taxes really would be much higher if we didn’t have this influx coming in, and for the developer, it’s terrific because they’re selling like hotcakes,” explained real estate broker Jeff Lichtenstein.

Lichtenstein says keeping the millage rate low makes sense and helps the majority of homeowners here.

“It’s putting the power of the money into the homeowner and letting them do with it,” he told CBS12 News Thursday. “They have enough for (the amount) that they want to spend on public services already, so why just tax to tax?”

Gill says the millage rate will be determined when all county-funded agencies make their requests, allowing the county to determine their budget.