Boca Raton Will Lose Millions If Property Tax Reduction Happens

City Of Boca Raton Recaps City Council Meeting. Here’s What You Missed…

BOCA RATON, FL (BocaNewsNow.com) (Copyright © 2026 MetroDesk Media, LLC) — The City of Boca Raton could lose as much as $16.73 million a year in property tax revenue if voters approve the controversial state property tax reform measure expected to appear on the November ballot, city staff told the City Council during last week’s City Council meeting. The City on Monday shared a rundown of the meeting — which spent considerable time focused on Ron DeSantis’ property tax proposal.

The proposal would increase the homestead exemption for non-school property taxes. At a $150,000 exemption level, Boca Raton estimates an annual revenue reduction of approximately $8.14 million. If the exemption is raised to $250,000, that reduction more than doubles to roughly $16.73 million per year.

While there would be no impact to the upcoming budget year, the revenue loss would begin with the FY 2027-28 budget and be phased in over two fiscal years.

Staff warned that future policy decisions may be needed to address the reduced revenue, with potential effects on service levels, budget priorities, millage rates, fees, or other revenue options.

In Other Council Business

Banyan Tree Lane

Council approved Resolution 56-2026 to rename portions of SE 4th Avenue and Mizner Village Drive within The Boca Raton property to Banyan Tree Lane. The change was requested by the property owner as part of the resort’s ongoing renovation and rebranding effort. The new name applies only to streets within the property boundaries, numeric addresses remain unchanged, and the property owner will pay to replace the street signs.

Petition Process Amendments

Council discussed Resolution 60-2026, which proposes charter amendments clarifying the City’s petition process. The amendments address how petition-related items are placed on the ballot, how signature requirements are calculated, and how certified petitions are protected from conflicting government action while awaiting voter review. The item is expected on the next available ballot, no later than the March 2027 Uniform Municipal Election.

Hospice Lease Postponed

Ordinance No. 5786, which would have amended the City’s lease for the City-owned hospice facility at 1531 West Palmetto Park Road, was postponed. The proposed amendment would have extended the lease term from 2034 to 2044 and required the lessee to make a capital investment in future improvements. Council agreed to delay action to gather more information from the lessee about the building’s condition and the improvements needed.

Construction Debris Franchise

Council approved Ordinance No. 5787, authorizing a non-exclusive franchise agreement with Classic Recycling Inc. for construction and demolition debris collection and disposal services. The agreement allows the company to provide roll-off container services within the City in exchange for a $2,500 annual fee and a monthly fee equal to 15 percent of gross revenues generated in Boca Raton.

Pension Plan Amendments

Council approved two ordinances affecting City retirement plans. Ordinance No. 5788 amends the General Employees’ Pension Plan, adding a definition of “actuarial equivalent” and permitting limited post-retirement modifications to joint pensioner or beneficiary designations. Ordinance No. 5789 amends the Executive Employees’ Retirement Plan, clarifying the definition and calculation of “Average Final Compensation” to align the Code with historical administration. The Executive Plan changes are technical and do not increase benefits, expand eligibility, or raise pension costs.