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The board voted to move forward with a resolution recommending that Coral Gables maintain its 5.559-mill property tax rate for fiscal year 2025-2026, for presentation to the City Commission on September 10. The current budget estimate includes $312 million in total revenues.
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The recommendation would keep the current property tax rate in place, although the City Commission is also reviewing scenarios for reductions of up to 5%. The budget estimate reflects a 5.4% increase in property values and related property tax revenue, while City Hall repairs are expected to cost more than $20 million. Auditors gave the fiscal year 2024 financial statements an unmodified opinion, with two process findings but no material weaknesses in internal controls.
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