Available 7 Days/Week       MON - FRI  8am - 7pm       SAT - SUN  10am – 6pm
Call us (305) 465-3900
Apply Now

MARATHON’S TAX RATE GOING UP

On July 13, Marathon City Council set the preliminary tax rate and, for the first time in four years, proposed to raise the ad valorem taxes on homes. The tax rate is going to 2.77 mills. Previously, homeowners and property owners in Marathon paid $11.88 per $100,000 value of their homes and the new rate is proposed to be $29.88 per $100,000 of value. Owners of homesteaded properties will only see their tax rates raised by 3% or less.

While the tax rate can be lowered at subsequent meetings to discuss the budget, it can not go higher. Meets are set for Sept. 9 at 5:05 p.m. and Sept. 14 at 5:05 p.m., both at Marathon City Hall.  

As proposed, the tax rate would raise $8.3 million for the general fund, up from $7.3 million last year. The city’s operating budget is about $14.5 million. The city of Marathon has 10 months of operating expenses in a reserve fund, to be used in case of an emergency like a hurricane. 

At the same meeting, the council voted to increase vacation rental fees. Going forward, new license fees begin at $1,000 (up from $750) for a one-bedroom home and renewal fees are $650 (up from $500) for a one-bedroom home. New and renewal fees are higher for larger vacation rental homes, maxing out at $1,200 for a new license for a four- or more bedroom home or $850 for a renewal of license renewal a property with four or more bedrooms.

The post MARATHON’S TAX RATE GOING UP appeared first on Florida Keys Weekly Newspapers.

Florida Keys Weekly

#floridakeys, #upperfloridakeys, #upperkeys, #upperkeysmortgage, Marathon News

upper keys mortgage, upper florida keys mortgage, mortgage upper keys, mortgage upper florida keys mortgage, mortgage calculator, upper keys condo mortgage, upper keys mortgage rates,  upper keys condotel financing, upper keys condotel mortgage, upper keys condotel mortgage rates,

Copyright © 2023 Fidelity Home Group supports Equal Housing Opportunity | All Right Reserved  | NMLS Identifier 1834853. Fidelity Home Group is not affiliated with the Department of Housing and Urban Development (HUD) or the Federal Housing Administration (FHA). Not intended for legal or financial advice, consult your own professionals if such advice is sought. Accessibility Statement  | Consent to Receive Electronic Loan Documents  |  Cookies Policy   |  Disclosures  | Email and Mobile PolicyFair Lending Policy  |  Mortgage Assumptions  |  NMLS Consumer Access  |  Privacy Policy  |  Terms of Use