Coral Gables property owners face a final vote on a $323.3 million budget and a 5.559-mill tax rate Tuesday, Sept. 29. The City Commission hearing begins at 5:01 p.m. at Police and Fire Headquarters, the last step before the fiscal year starts Oct. 1.

Commissioners advanced both measures on 4-1 votes at the first budget hearing on Sept. 15, the Gables Gazette reported. Commissioner Melissa Castro cast the only dissent. If the commission approves the same rate Tuesday, it will mark a 12th consecutive year at 5.559 mills, a level held since fiscal year 2015-16.

The rate sits 6.94% above the rolled-back rate of 5.1982 mills, the level calculated to bring in roughly the same revenue as the prior year when new construction is excluded.

Property tax revenue is projected at $146.59 million for fiscal 2027, up about $9.06 million from the current year's $137.53 million. Total taxable value rose 6.5% to $27.70 billion.

City Manager Peter Iglesias estimated at the first hearing that Florida's Amendment 3, a measure on homestead exemptions and assessment caps on the Nov. 3 statewide ballot, could cost a future Coral Gables budget about $7.7 million. Officials said at the hearing that the amendment would not affect the fiscal 2027 budget.

Personnel costs lead the $323.3 million spending plan

The spending plan puts roughly $174.2 million toward personnel, $79.4 million toward other operating costs and $33.2 million toward capital projects. Debt service accounts for $10.6 million. Sea-level rise mitigation gets $5 million in new money, with $37.69 million available in the capital schedule overall for the program.

The budget also includes $6.2 million for sewer projects and $6 million for City Hall repairs.

Castro seeks lower rate by trimming pension payment

Castro's dissent centered on one line item: an $8.65 million voluntary extra payment toward the city's pension liability, on top of the required $24.9 million annual contribution. She proposed cutting the millage to 5.390 mills by reducing that extra payment roughly in half, a move she said would save the average taxpayer $171 a year.

"We will still continue funding an extra payment to the pension. We will not be cutting services," Castro said at the Sept. 15 hearing.

Her proposal did not receive a second.

Commissioner Richard Lara said he had heard no speaker ask commissioners to lower the millage. Commissioner Ariel Fernandez said residents who spoke had urged the commission to leave the rate unchanged.

How residents can comment before the vote

The Sept. 29 agenda includes a public hearing for resident comments before the commission votes. Residents can attend in person, join via Zoom at zoom.us/j/3054466800, call 305-461-6769, email [email protected], or submit comments through the city's e-comment system at coralgables.com/commissionmeetings. The hearing will air live on coralgables.com/cgtv and Comcast Channel 77.