The St. Johns County Board of County Commissioners approved the tax rate for FY 2023 at a special meeting on Tuesday, Sept. 20.
The vote was 4-1 with County Commissioner Paul M. Waldron voting no.
The aggregate millage rate, which is divided among the general fund, fire district fund, transportation trust fund and health department fund, is $6.83 per $1,000 of assessed property value. This is a 2-cent increase over the FY 2022 rate.
This represents a 12.57% increase over the rolled-back rate of $6.06. The rolled-back rate is what would generate the same amount of tax revenue as last year after being adjusted for changes in property values.
That portion the rate that will go to the general fund is $4.65, an 11% increase over the rolled-back rate of $4.12. The general fund is the largest of the county’s operating funds and accounts for all financial resources except those restricted to specific uses.
Other countywide levies, per $1,000 of assessed property values, are: $1.38 for the fire district fund, $0.84 for the transportation trust fund and $0.02 for the health department fund.
The certified taxable value of properties in the county is $40,840,143,494. The county has seen a 17.8% increase in taxable value since last year, which results in a $39,964,900 increase in tax revenue from last year. Total estimated taxes are $278,797,359 for FY 2023.
Under the approved rate, the owner of a $400,000 home with a $50,000 homestead exemption would pay $2,391 in county taxes next year.
In a separate action, the board unanimously approved the budget of $1,550,104,053.
