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Resolution 15-17
Attachments:
Attachment NameAttachment SizeAttachment Date
Size: 66K
Last Updated: 2015/9/11
City of DeBary SealCity Council Meeting
City of DeBary
AGENDA ITEM





Subject:Adopt Resolution #15-17 Adoption of Final Millage Rate for FY 2015-2016
  

From: City Manager
             
Meeting/Hearing Date:  September 16, 2015

Attachments:
(   )  Ordinance
( X)  Resolution
(   )  Other
(   )  Supporting Documents/Contracts

Summary/Highlights

Resolution #15-17 will adopt the Ad Valorem Tax Rate for Fiscal Year 2015-2016.

Background Discussion

At the first public hearing the City Council adopted a Tentative Ad Valorem Millage Rate of 2.9247 for FY 2015-2016.

As required by the TRIM (Truth in Millage) Bill, the Final Ad Valorem Millage Rate must be announced at the public hearing, to include the percentage of increase above the Rolled-Back Rate, if any.  The Rolled-Back Rate is the tax rate that will generate revenues for the next fiscal year that is equal to the revenues received for the current fiscal year, less revenue from new construction.  The attached Resolution proposes to adopt the Final Ad Valorem Millage Rate.  The proposed 2.9247 millage rate is 1.24% higher than the computed rolled-back rate of 2.8888  and therefore is a tax increase.

Recommended Motion  

Adopt Resolution # 15-17 Tentative Millage Rate for FY 2015-2016.





City Council Action:
(   )  Approved As Recommended
(   )  Approved With Modification
(   )  Disapproved
(   )  Continued Date:

(   )  Other

Modifications:



 
 
City of DeBary, FL
16 Colomba Rd, DeBary, FL 32713
Phone: (386) 668-2040  Fax: (386) 668-4122