To meet a growing population, inflationary cost increases and the demand for housing, Wildwood commissioners Tuesday night gave initial approval to a proposed $60.1-million budget for 2022-23 that features a modest property tax hike.
Commissioners are expected to take final budget action at their Sept. 26 meeting. The 2022-23 fiscal year begins Oct. 1.
The tax rate of $3 per $1,000 assessed valuation is a reduction from this year’s rate of $3.25, but above the rollback rate of $2.87.
The rollback rate is the amount needed to collect the same revenue as the prior year, excluding new construction. Under Florida law, a rate above the rollback rate is considered a tax increase.
Since last year, the city’s taxable value of property rose to $4.48 billion, up 36 percent or $1.4 billion. The city expects to collect $12.7 million in property tax revenue next year, up $3.4 million from this year.
Commissioner Joe Elliott, a resident of The Villages, cast the only vote against the proposed tax rate. In July, Commissioner Marco Flores voted against the proposed rate, but voted for it Tuesday night.
Expansion of The Villages and other housing projects have meant a Wildwood population increase of nearly 60 percent since the 2020 census.
According to a University of Florida estimate, the city had 24,681 residents as of April 1, up 8,951 from the census figure of 15,730, and the population likely has risen even more over the past five months.
As of mid-August, Wildwood had 7,000 housing units either under construction or in the planning process, according to City Manager Jason McHugh.
The proposed budget and a strategic plan, also set for adoption later this month, include more than 50 initiatives under the categories of community engagement, transportation, affordable housing, downtown redevelopment, infrastructure and employee recruitment and retention.
Major capital projects and their estimated five-year costs include $8 million in downtown improvements, $11.5 million for Millennium Park upgrades and $6.9 million for Clay Drain Road. Other projects include expanding and upgrading the wastewater treatment plant and water main extensions.
Twenty-one positions would be added in next year’s budget, including eight police officers, six utilities employees, three public works employees and one employee each for the fleet, parks and recreation, development services and information technology departments.
Â
