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The Lakeland City Commission on Thursday approved a $731 million city budget for fiscal year 2025 – down from the current year’s $746.0 million – with no increase in the property tax rate.
Property taxes: The property tax rate commissioners agreed to was the same as the current year’s: 5.4323 mills – $5.432 per every $1,000 of a home’s value after deductions like homestead exemption.
At that tax rate, the owner of a single-family home with an assessed taxable value of $181,383 — the average in Lakeland, according to the Polk County property appraiser — will pay $713.71 in city taxes next fiscal year, which begins Oct. 1…