Mayor Vince Lago proposes four-year phased plan for modest property tax reduction

September 09, 2025 | Coral Gables, Miami-Dade County, Florida


This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »

Mayor Vince Lago proposes four-year phased plan for modest property tax reduction
Commissioner Melissa Castro unveiled a strategic four-year phased plan aimed at reducing the city's millage rate during the Town Hall Meeting on September 8, 2025. The plan, designed to provide sustainable tax relief without compromising essential city services, focuses on recurring revenues rather than one-time funds.

Castro emphasized the importance of a gradual approach, stating, "When you lower the millage, you're not only lowering it for that year, but you're lowering it hopefully forever." This long-term vision is supported by a projected 5.5% growth in property values, which will help offset the tax reductions while maintaining the city's financial stability.

The proposed reductions will amount to 0.25 mils each year for the next four years, with the first year's cuts estimated at $343,000. Castro detailed how the city managed to trim $162,524 from a requested $3.8 million in new departmental needs, highlighting specific cuts such as reducing the budget for a drone show and eliminating a vacant position in the sign shop.

In addition, the city plans to adjust its renewal replacement programs, trimming $180,000 from a total of $6 million. Castro reassured residents that despite these cuts, the city will continue to invest in crucial services.

The resolution for the phased plan will be presented at the upcoming commission meeting on September 10, marking a significant step towards providing tax relief while ensuring the city remains financially sound.

View full meeting

This article is based on a recent meeting—watch the full video and explore the complete transcript for deeper insights into the discussion.

View full meeting

Comments

    Sponsors

    Proudly supported by sponsors who keep Florida articles free in 2025

    Republi.us
    Republi.us
    Family Scribe
    Family Scribe