$815.1 million. That's the 2026 budget commissioners unanimously approved for the City of Lakeland's next fiscal year, which begins Wednesday, Oct. 1. Where can you expect to see that money spent — and how will it be generated? Let's break it down.

General Fund

Totaling nearly $191 million, this portion of the budget covers public safety (think: Lakeland Police + Fire Departments), parks and recreation, city personnel, and other day-to-day operational costs. Around 32% of the General Fund's bottom line comes from property tax revenues.

Strategic Plan

Commissioners approved $53.3 million to be distributed to strategic initiatives in four categories:

$33.8 million — Infrastructure
$18 million — Economic development
$1.4 million — Public safety
$142,000 — Culture

City Manager Shawn Sherrouse shared that infrastructure is getting such a large chunk of the funding so that the city can keep up with population growth and modernize aging water + wastewater systems, just to name a few.

According to The Ledger, major projects in the infrastructure budget include $4.5 million for sidewalk enhancements, plus upgrades at Lakeland Electric's McIntosh and Larsen power plants.

Consider Lakeland for your first home. | Photo by @dietitian.anie

Property taxes

Commissioners voted not to raise property tax rates, approving a millage rate of 5.4323 mills for the fifth year in a row. Using this rate, property owners will pay $5.432 in property taxes for every $1,000 of their homes’ values after deductions.

While the rate hasn't increased, you may still see a bump in taxes based on property value increases. Those numbers are decided by the Polk County Property Appraiser, not the City of Lakeland. How much of a bump are we talking? The Property Appraiser's Office provided the city with a projected property value increase of 6.84% for the next fiscal year.