By AMBER PATINO
Bonifay City Council approved the city’s budget for the 2025–2026 fiscal year when council members held the final budget hearing on September 23.
The total budget is set at $15,424,920, only a slight increase from last year’s total budget of $15,112,261. A significant portion of the budget, $8.97 million, is funded through grants, which are designated funds provided by state or federal agencies to support specific city initiatives, such as infrastructure improvements, facility upgrades, and public service programs. The final operating budget expenditures show a 7.47% increase in operating expenditures compared to the previous year.
As part of the budget adoption, the council approved an increase in the city’s millage rate, raising it from 3.000 to 3.5000 mills. The millage rate determines the amount of property tax levied per $1,000 of a property’s taxable value. At the new rate, property owners will pay $3.50 in city taxes for every $1,000 of assessed value. Revenue generated from the millage helps fund services such as public safety, infrastructure, and general government operations.
The city also adopted a measure to increase its property tax levy, which will rise from $377,477 to $484,709 under the new rate.
Staff Report 