Naples budgets $208 million for next year, raising property taxes.

The municipal of Naples has approved a $208.8 million budget for the upcoming fiscal year, following a recent decision to raise property taxes for municipal residents.

The budget represents an increase from the fiscal year 2023-24, which was set at $197.19 million. City Manager Jay Boodheshwar noted that rising costs had forced the city to boost its spending, according to a recent article by Mahmoud Bennett of FOX4.

“The cost of goods and services and labor and insurance has gone up, and it’s gone up for all governmental jurisdictions,” he said.

The new budget allocates more than $40 million to capital upgrades such as stormwater systems, roads, and parks. Additionally, around $13 million will be spent on personnel and running expenses.

When it comes to taxes, homeowners will see a difference in how much they pay. The millage rate will increase from 1.17 to 1.23.

Accordingly, “a property with a taxable value of a million dollars would pay effectively 60 dollars more for the year for this additional six basis points in the millage rate,” Boodheshwar detailed.

Boodheshwar also stated that much of the additional cash will benefit first responders, particularly the Naples Police Department, which is expanding and improving its technology.

“We are finally moving toward the implementation of body-worn cameras,” says Boodheshwar. “Up until this upcoming year, that has not been a piece of technology within our inventory.”

While Boodheshwar acknowledged some opposition to raising property taxes, he stressed that it is necessary to keep the city operating at a steady state amidst expansion and inflation.

“Nobody likes to pay more than they have to,” Boodheshwar said. “But our responsibility is to make sure that out budget aligns with the expectations of the community,” according to him.

The new fiscal year for the city of Naples begins on October 1.

This article originally appeared on FOX4