STUART — Stuart City commissioners convened Sept. 8 to discuss the tentative budget for the 2026 fiscal year. The meeting was the first of two required public hearings before the budget is finalized. City Manager Michael Mortell kicked off the meeting to go over the plan.
"We've adjusted the budget to re-budget the four additional employees and the balance then was reduced down and it then results in a millage rate of 4.9 instead of 5, so it's a reduction in the millage rate," Mortell said.
Despite the lower tax rates, some Martin County residents may still see an increase in their property taxes. Martin has ranked among Florida's top ten counties for median home value growth over the past decade. Martin County saw a $270,009 increase in median home value, placing it fifth in the state, according to a study by SmartAsset.
Louis Baglioli, the city's financial services director, took over to dive deeper into the budget.
"We were at $49 million, last year we were at $48 million, and this year is $47 million," he said. "So it's a nice glide path down." Public safety, which includes law enforcement and fire rescue, comprises over half of the general fund.
Property taxes in Florida are calculated using the taxable value of a property, the assessed value minus any exemptions, such as the homestead exemption, multiplied by the millage rate, which represents the tax per $1,000 of value. One mill equals $1 in tax per $1,000 of taxable value. Even if the millage rate is lower than the previous year, rising property values can result in higher tax bills.
Public safety, which includes law enforcement and fire rescue, comprises over half of the general fund.
A motion to approve the tentative budget was filed and passed. The commission will hold a second public hearing before the budget is finalized. A final budget hearing is slated for Sept. 22.