Wellington's new $128M budget finds spending down but tax bills up slightly as property values rise

Valentina Palm, Palm Beach Post
·2 min read

WELLINGTON – Spending will decrease 4% in Wellington in the fiscal year that started Saturday under the village's new $128.5 million budget.

The village saw an increase in revenue of 22.5% mostly from taxable property values, which have risen by 12.7% to $24 billion according to budget documents.

Wellington's 4% budget decrease is mostly due to a $5.5 million reduction in capital improvement project spending. The completion of one-time projects, such as renovations to Village Hall, led to the decrease.

The village council approved the spending plan by a 5-to-0 vote on Sept. 21.

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Wellington is keeping its property tax rate at $2.47 per $1,000 of assessed value for its fourth consecutive year. The rise in property values, however, will mean tax bills will be slightly higher for most village residents, even with the rate unchanged.

The owner of a home valued at $450,000, with a standard $50,000 in homestead exemption, can expect to pay about $30 to $35 more in village taxes, according to budget documents. For example, last year the owner of a $463,500 house paid $988 in taxes; this year, the bill would be $1,021.

Wellington also kept its annual assessment for the Acme Improvement District of $230 per acre. The district is responsible for the water and roadway projects in the area.

Other taxes a property owner will pay, such as those to Palm Beach County and the county School District, are calculated separately.

Budget breakdown

  • In public-safety spending, the village contracts Palm Beach County Fire Rescue through a municipal service tax and the Palm Beach County Sheriff's Office with a budget of $16.3 million, up 5% from last year.

  • Public works spending is budgeted at $21.2 million, up about 7% from last year.

  • Recreation and culture is budgeted at $6.8 million, up 17% from last year. The funds will be used to re-establish community programs that closed during the COVID pandemic.

  • Capital improvement spending will total $13.8 million in the next fiscal year, down $5.5 million from last year. It will include renovations to the aquatics center and village parks, additional bike lanes and repairs to local roads.

This article originally appeared on Palm Beach Post: Property tax bills in Wellington to rise slightly under new $128M budget