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St. Petersburg homeowners would continue paying the same city property tax rate next fiscal year under a budget proposal approved Thursday, although rising property values are expected to generate nearly $15 million more in tax revenue.
City Council unanimously approved a tentative operating millage rate of 6.4525 mills for Fiscal Year 2027, matching the current year's rate. A mill equals $1 in taxes for every $1,000 of a property's taxable value, meaning a homeowner's tax bill depends on both the millage rate and the assessed value of their property.
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