Fiscal Year 2027 Operating Budget 6.11.2026

The City of Hollywood held a Fiscal Year 2027 Operating Budget workshop on June 11, 2026, focusing on the city's fiscal condition, budget proposals, and strategic priorities. Key procurement-related discussions included the presentation of the June taxable value report showing a 5.71% growth, largely driven by $403 million in new construction, which is expected to generate approximately $3 million in additional tax revenue. The city proposed maintaining a flat operating millage rate of 7.4293 and reducing the debt service millage by 0.022 mills. The workshop addressed the potential impact of upcoming property tax reform, which could significantly reduce taxable value and revenue starting in fiscal year 2028, prompting the city to consider future service reductions and fee increases. Budget initiatives emphasized innovation, technology investments such as AI cameras, license plate readers, and a real-time intelligence center, as well as maintaining existing obligations like pension contributions and collective bargaining agreements. Discussions also covered funding for special events, capital improvement plans, and community priorities including public safety staffing increases and enhanced facility maintenance. Commissioners requested more detailed cost breakdowns for various initiatives and emphasized balancing technological advancements with community engagement and equitable allocation of resources. The city plans to set the maximum millage rate in July, hold a capital budget workshop in August, and conduct public hearings in September.