Edgewater, Florida Development News

Edgewater City Council Reviews Proposed FY2027 Budget, Millage Rates, and Fire Assessment

The City of Edgewater is reviewing its proposed governmental funds budget for fiscal year 2027. The budget is based on a current millage rate of 6.33, with an estimated general fund recurring revenue of $14,192,630, making up approximately 43.72% of the total. The fire assessment is proposed at $50 per residential unit and per square foot for commercial properties, estimated to generate $641,771. The preliminary taxable value for operating advalorum is $2,360,128,081, an increase of 6.28%. The proposed budget needs an adjustment of $478,693 if adopted at the rollback rate. The millage rate of 6.33 represents a 3.49% change over the rollback rate. The draft budget includes a 5% placeholder for wage increases and an estimated 7% increase for health and dental costs. No additional staff are recommended for the upcoming year. The general fund expenditures show salaries and benefits at 65.73% of the budget. The proposed capital outlay for equipment totals $559,480. The unassigned fund balance as of September 30, 2025, is $17,833,178. The city is also preparing for potential revenue reductions due to tax reform legislation, estimated at $5 million over the first couple of years.