Page 22 - CityofLakeWorthFY26AdoptedBudget

The increase in the debt service portion of the tax rate for FY 2026 is directly

attributed to the issuance of the 2024 Certificates of Obligation, which were approved
to fund essential capital projects such as the construction of Fire Station No. 1, major

water and sewer system improvements, and other infrastructure enhancements vital
to the City’s long-term service delivery and growth strategy.

At the adopted tax rate of $0.494737, the municipal property tax bill for the average
single-family home in Lake Worth—valued at $186,106—will be approximately

$920.74 annually. This represents an increase of approximately $1.44 per month (or

$17.34 per year) over the prior year.

While this adjustment reflects the City’s increased investment in infrastructure and

essential services, it remains a fiscally responsible rate that balances the need for
community improvements with the goal of minimizing the burden on taxpayers.

The City remains committed to transparency and stewardship of public funds, ensuring

that every tax dollar is used efficiently to enhance quality of life and maintain Lake

Worth’s high standards of public service.

GENERAL FUND

The General Fund is the backbone of the City of Lake Worth’s municipal operations

and serves as the primary funding source for the essential services that directly impact
the daily lives of residents, businesses, and visitors. This fund supports core

governmental functions including public safety (police, fire, and code enforcement),

parks and recreation, library services, streets and infrastructure maintenance, and
general government administration.

Because of its critical role in sustaining basic services and supporting the quality of
life in Lake Worth, the General Fund is one of the most closely monitored and

strategically managed components of the City’s overall financial structure.