St. Petersburg City Council Approves Tentative Property Tax Rate, Revenue Expected to Rise
The St. Petersburg City Council has approved a tentative property tax rate of 6.4525 mills for the upcoming fiscal year, maintaining the same rate as the current year. Despite this, rising property values are projected to increase tax revenue by…
Tampa St. Petersburg, FL, July 25, 2026 —
St. Petersburg, FL – The St. Petersburg City Council has given tentative approval to the property tax rate for the upcoming fiscal year. The council voted to maintain the rate at 6.4525 mills, which is the same rate implemented in the current fiscal year.
Despite the tax rate remaining unchanged, an increase in property values across the city is anticipated to significantly boost tax revenue. Projections indicate that this rise in property valuations will lead to an estimated increase of nearly $15 million in tax revenue for the city.
The decision to keep the millage rate constant comes as city officials navigate budget considerations for the new fiscal year. While the rate itself does not increase for property owners, the higher assessed values of their properties will result in a larger tax bill for many residents and businesses.
The 6.4525 millage rate will now move through the necessary final approval stages. Further details regarding the city’s budget and the allocation of the projected increased revenue are expected to be released as the fiscal year approaches.
Story summarized from the original created by Aaron Styza on stpetecatalyst.com, see more information here.
