Palm Coast Considers Utility Rate Increases - Palm Coast Observer Reports

Palm Coast, Florida looked at raising utility rates to cover roughly $130 million in aging water and sewer plant work plus expected growth, according to a July 31 City Council presentation reported by the Palm Coast Observer. The average bill of $65.76 a month was projected to reach $79.33 by 2022, about $163 more per year.

The utility runs as an enterprise fund paid for by rates, not taxes, so the money has to come from bills. As one councilman noted, few services matter more to residents than water and sewer.

For multifamily owners, a projected multiyear increase like this is a budgeting problem. A property on one master meter carries the full rise across every unit, with no way for residents to see or manage what they use.

Submetering bills each unit for its own water. That gives residents a reason to conserve and keeps owners from shouldering the entire cost of a long rate schedule.

Learn about the benefits of submetering your real estate with NES.

Source: Palm Coast Observer