Housing & Development · Lake Wales, FL
Lake Wales Adopts $144M Budget with Higher Property Taxes to Fund Redevelopment
On Tuesday, Sept. 22, 2026, Lake Wales city commissioners voted unanimously to adopt a $144,473,884 budget for the upcoming fiscal year, supported by a millage rate of 8.0462 mills—a 6.85 percent increase over the rolled-back rate. The added revenue funds major projects including $17.5 million toward restoring the historic Walesbilt Hotel, $1 million in citywide street resurfacing, a new south fire station on Hunt Brothers Road, and continued rollout of the Lake Wales Connected downtown revitalization plan. A homeowner with a $200,000 taxable value would pay approximately $1,609 in property taxes, roughly $103 more than the prior year. The city's taxable property base grew by more than $1.5 billion (20.56 percent) over the past year due to new construction and annexations.