|City Council Meeting
City of DeBary
Subject: Resolution #14-12 – Adopting a Preliminary Millage Rate for Fiscal Year 2014/2015.
From: Dan Parrott, City Manager
Meeting/Hearing Date: July 30, 2014
( ) Ordinance
(X ) Resolution
( ) Other
( ) Supporting Documents/Contracts
The City must notify the Volusia Property Appraiser of the Preliminary Ad Valorem Tax Rate and date for the first required public hearing on the FY 2014/2015 budget, within 35 days from the receipt of the Certification of Taxable Value.
On July 1 of each year the Volusia County Property Appraiser must deliver a Certification of Preliminary Taxable Value to the City; within 35 days of the receipt (August 4, 2014), the City must adopt a Preliminary Ad Valorem Tax rate for the upcoming fiscal year, and set the time, and place of the first budget public hearing. This information will appear on the Property Appraiser’s Truth In Millage (TRIM) tax notice to be mailed to property owners on or before August 16, 2014.
Attached is the copy of the Property Appraiser’s Certification of Taxable Value (Form DR-420) for the City. It shows a gross taxable value for property within the City of $1,510,600,372. This represents an increase of $75,395,061 million from the previous year’s taxable value. Our current millage rate is 3.055. The attached form shows the “rolled-back rate”, which is not classified as a tax increase, for next year at 2.9247.
After the preliminary millage is adopted, it cannot be increased during the budget adoption process without notifying all taxpayers; however, the millage may be reduced during the budget adoption process.
The City must also notify the Property Appraiser of the date of the first required budget public hearing. Staff is recommending that the first public hearing date on the FY 2014-2015 budget be held on September 3, 2014, at 7pm in the City Council Chambers
Adoption of Resolution No. 14-12, Setting the Ad Valorem Tax for FY 2014/2015 and setting the first budget hearing on September 3, 2014, at 7pm in the City Council Chambers
City Council Action:
( ) Approved As Recommended
( ) Approved With Modification
( ) Disapproved
( ) Continued Date:
( ) Other