Panama City approves millage rate proposal

Local News

PANAMA CITY, FLA. (WMBB) — The city of Panama City approved a millage rate proposal for the fiscal year of 2022 Tuesday, deciding that it would not increase the millage rate past the 4.99 percent that was in place this past year. Recently, Bay County mandated its millage rate. Property values throughout the city of Panama City have increased 12 percent overall, with properties increasing by 30 percent downtown. From now until September, McQueen said budget workshops will take place to refine the new fiscal budget.

“What will take place between now and the public hearings in September will be budget workshops,” Panama City City Manager Mark McQueen said. “That will take place and we’ll continue to refine the budget. The objective is to ensure that we’re balancing the needs of the city, and the expectations of the citizens with the resources that are available.”

The city plans to continue looking for ways to potentially decrease the millage rate throughout Panama City. That decision will be finalized in a public hearing in September.

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