The City of Port St. Lucie has one of the lowest municipal property tax rates when compared to the largest cities in Florida, according to an annual Millage Rate Benchmarking Study for Fiscal Year 2023-2024.
The City of Port St Lucie is the third lowest property tax millage rate among 20 large Florida cities.
The following excerpt is from the City Manager’s Newsletter p.35 12/8/23, Vol 7, Issue 24:
The study ranked Port St. Lucie, which has a millage rate of 5.2000 for Fiscal Year 2024, as having the third-lowest municipal property tax rate out of Florida’s 20 most populated cities.
In accordance with the City’s Strategic Plan, the City’s property tax rate (also called the millage rate) has steadily decreased for eight consecutive years.
Port St. Lucie’s statewide ranking has improved since the study was first conducted in Fiscal Year 2019- 2020:
- In 2020, PSL was ranked 10th.
- In 2021, PSL was ranked seventh.
- In 2022, PSL was ranked fifth.
- In 2023, PSL was ranked fourth.
- In 2024, PSL was ranked third.
The millage rate is the tax rate per thousand dollars of taxable value. If the millage rate is 5.2000, then a resident is paying $5.20 in taxes for every $1,000 of taxable property taxes
Source:: City Manager’s Newsletter p.35 12/8/23, Vol 7, Issue 24
What makes up your St Lucie County Property Tax Bill?
The City of Port St Lucie is in St. Lucie County, which is one of several different taxing authorities on your county real estate tax bill.
There are seven different taxing authorities in St. Lucie County.
Some of the other taxing authorities who set their millage rates include St. Lucie County, St. Lucie County School District, the Fire District, and the South Florida Water Management District.
In the end, the Port St Lucie City Council is responsible for the millage rate for only two lines of Port St. Lucie residents’ tax bills:
- City of Port St. Lucie and
- City of Port St Lucie Voted Debt, which was voter-approved to pay for the Crosstown Parkway.
Those two portions make up only about 22% of city residents’ total tax bill from the county.
Property taxes (also called ad valorem taxes) are the largest single revenue source of the City’s General Fund.
What is a CDD in your Property Tax Bill?
Some communities will have a special assessment or a Community Development District (CDD) assessment on top of that. For example, several communities in the Tradition area have a CDD.
What is a CDD? A Community Development District is a special-purpose governmental structure created to fund and manage the infrastructure and amenities within a community. Think of it as the conductor orchestrating the harmonious development of your neighborhood.
Why the Extra Line on Your Bill? Unlike traditional taxes, the CDD assessment is a separate line item on your tax bill. This specific charge funds crucial community improvements, such as parks, roads, water management, and recreational facilities. It’s the wizardry behind the scenes that keeps your neighborhood pristine and your property values soaring.
How is it Calculated? The CDD property tax assessment is typically based on the development’s cost of infrastructure, maintenance, and community enhancements. This cost is spread among the property owners in the district, ensuring everyone chips in for the collective well-being of the community.
Amenities Galore: One of the perks of the CDD assessment is the array of amenities it funds. Imagine having access to sparkling community pools, beautifully landscaped parks, and well-maintained common areas – all thanks to the CDD magic at work!
How do Property Taxes in St Lucie County Compare to other counties?
Florida Tax Watch released its annual report in May of 2023: How Counties Compare.
- The County of St Lucie is 18th in Per Capita level at $2,006.89, just below the state level of $2,013.47
- St Lucie County has the highest millage rate in all of Florida at 22.0009
Includes all jurisdictions. Calculated using total property tax levies and total taxable value in each county. The school district portion is calculated using school taxable value, and the rest using county taxable value. Source: Florida Department of Revenue and Florida TaxWatch, April 2023.
