Jacksonville’s real estate boom results in a tax jump for the city

Jacksonville City Council member Danny Becton, seen in a file photo, tried unsuccessfully to rally support for a resolution calling for the use of the property tax rollback rate in next year's budget.

The booming real estate market could give the city of Jacksonville a roughly $90 million increase in new property taxes, which preliminary figures show is twice the annual growth the city has seen in recent years.

City Councilman Danny Becton, vice chairman of the council’s finance committee, revealed the magnitude of the expected tax jump as he unsuccessfully lobbied for a resolution calling for Mayor Lenny Curry to use a lower property tax rate when preparing the 2022-23 budget.

The city has used the same property tax rate since 2013. Even if the tax rate doesn’t change for next year’s budget, many homeowners will see larger jumps in their debt compared to previous years as the taxable value of their homes and businesses increases at a faster pace.

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