$872.4 million. That's the budget commissioners unanimously approved for the City of Lakeland's 2027 fiscal year, up from $815 million last year. Let's break down how that money will be divvied up.

General Fund

Totaling just over $197 million, this fund makes up 23% of the entire city budget. It covers public safety (think: Lakeland Police + Fire Departments), parks and recreation, city personnel, and other day-to-day operational costs.

Around 30% of the General Fund's bottom line comes from property tax revenues. More on those below.

Construction workers and heavy machinery, including a steamroller, paving fresh asphalt on a residential street. — Infrastructure is a major focus again, with funds going toward power plant improvements, road upgrades, and wastewater system rehabilitation. | Photo by City of Lakeland

Strategic plan

Commissioners approved $47.4 million to be distributed to strategic initiatives in five focus areas:

$27.6 million — Infrastructure
$11.2 million — Economic development
$4.2 million — Organizational excellence
$3.5 million — Quality of life
$939,000 — Public safety

In the first budget hearing, City Manager Shawn Sherrouse shared a few notable projects covered in the strategic plan, including the South Florida Avenue + Memorial Boulevard streetscape redesigns, the Downtown West Action Plan, and an environmental assessment for LAL's planned terminal upgrades.

Property taxes

Commissioners voted not to raise property tax rates, approving a 5.4323 millage rate for the sixth 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. That's the third-lowest rate among Polk County municipalities.

While the rate hasn't increased, you may still see a bump in taxes based on property value increases. The Polk County Property Appraiser, not the City of Lakeland, sets those numbers. How much of a bump are we talking? This year's budget was based on 4.96% property value growth.