OKEECHOBEE — After a lot of hard work, reviewing the proposed budget for FY2026/27, cutting costs, and reviewing estimated income, the city has decided it can set the millage rate at the rollback rate after all.

After a report from new City Finance Director Taylor Connell in which he explained areas the city could cut back and areas they estimated higher income than they previously estimated, the council was all smiles as they voted unanimously to use the rollback rate of 5.8962 mills rather than the one previously recommended by staff of 5.9602.

A rollback rate is the rate that would result in the property owners paying close to the same amount of taxes despite a rise in property value.

The city has aggressively lowered its millage rates over the last several years, sometimes using the rollback rate, and sometimes going below that rate, and this year will be no exception.

One mill equals $1 in taxes for every $1,000 of taxable property value.

This rate will be advertised in the Truth in Millage (TRIM) notices, which will be mailed to property owners. After the TRIM notices go out, the council can lower the tax rate for the coming fiscal year but cannot raise it.