The Port St. Lucie City Council unanimously approved a $971.6 million budget for fiscal year 2026-27 and reduced the city's property tax rate from 4.9750 to 4.8750 mills during Monday's final budget hearing. The vote marks the 11th consecutive year Port St. Lucie has lowered its property tax rate, a trend officials said has saved the average homeowner nearly $2,000 over the past decade.
Since 2016, Port St. Lucie has reduced its millage rate by 25 percent, giving the city the third-lowest municipal tax rate among Florida's 20 largest cities. The millage rate represents the amount of tax charged per $1,000 of taxable property value. The new rate takes effect Thursday.
Officials said the tax cuts come despite the city's rapid population growth. More than 60,000 new residents have moved to Port St. Lucie since 2020, requiring substantial investments in infrastructure including roads, drainage systems, utilities and public safety services.
Mayor Shannon M. said the city aims to provide the services residents value most while being good stewards of taxpayer dollars. By taking a measured approach to lowering property tax rates, the city has been able to continue meeting the needs of the growing community while remaining fiscally responsible, the mayor said.
The final budget hearing took place at 5:30 p.m. Monday at Port St. Lucie City Hall, immediately following the 5 p.m. Community Redevelopment Agency meeting.