by James Coulter
Due to an increase in local property values, Lake Wales residents could see their property taxes increase if city commissioners approve an increased interim millage rate.
At their workshop meeting on Wed. July 9, 2025, Lake Wales City Commissioners reviewed an agenda item to approve the Polk County property appraiser’s certification of taxable value for this year, set the interim millage rate, and set the dates for the public hearings to adopt the final millage rate and the FY25-26 budget.
Since last year, Lake Wales has experienced an increase in taxable value of $144,469,003. As such, the city’s gross taxable value for operating purposes would increase to $1,322,637,537, which is 11.67% above last year’s final gross taxable value of $1,237,434,449.
As such, city staff recommends the interim millage rate be set to 8.0462 mills, which is greater than the rolled-back rate of 6.6772 mills by 20.50%. The current millage rate is 7.0462.
Under the current rate, the city would generate $9,737,168 in taxable income. Conversely, under the proposed rate, that income would increase significantly to 11,119,072, which is a difference of 1,381,904.
Deputy Mayor Robin Gibson admitted that this fiscal year would see some challenges. However, he remained optimistic that the increased property values, coupled with the grants the city has secured, will allow Lake Wales to continue experiencing economic development.
“We knew, heading into this, this would be the year we would have some tough challenges…I do not believe anybody up here thought this would be a cakewalk,” he said.
“I think that between the millage increase…and the grants that have been obtained, our productivity is going to continue in this upward trajectory, and we acknowledged here and outside of the city as being on a roll and very productive, and it looks like we will stay on that trajectory,” he later elaborated. “I have been here 56 years, and I have not seen anything like this.”
Commissioner Keith Thompson likewise commented that, while the city has faced some tough economic times, Lake Wales has also experienced a lot of growth and development. As such, he remains optimistic for the city’s future.
“Our city has survived and strived through some pretty tough times. And times where we did not have any economic development or the growth that would allow us to expand services with increased tax increment and revenue,” he said.”We are in some interesting historical time for Lake Wales where there are some great things on the horizon and that are being done currently.”
City commissioners will review and vote upon the agenda item at their next regular meeting, scheduled for Tues. July 15 at 6 PM at Lake Wales City Hall.
