City Council Meeting
City of DeBary
Subject: Resolution 17-09 Adoption of tentative Ad Valorem Millage Rate for FY 2017- 2018
From: City Manager
Meeting/Hearing Date: July 19, 2017
( ) Ordinance
(X ) Resolution
( ) Other
( ) Supporting Documents/Contracts
The attached Resolution proposes to adopt a tentative ad valorem millage rate of _______ for fiscal year 2017/2018. The tentative ad valorem millage rate to be levied upon all taxable property located within the City of DeBary is ______, which is _____% higher than the computed rolled-back rate of 2.8676; therefore, there is an increase as determined by the Volusia County Property Appraiser according to the Truth In Millage (TRIM) Bill mandated by the Florida Legislature. The Rolled-Back Rate is the rate that will generate revenues for the next fiscal year that is equal to the revenues received for the current fiscal year, less revenues from new construction.
As required by the TRIM Bill, the Tentative Millage rate must be announced at the public hearing. The tentative ad valorem millage rate is estimated to generate $_____________ at 100% collection rate for the next fiscal year.
The TRIM Bill requires that the date, time, and place for the final public hearing on the Final Annual Operating Budget for FY 2017/2018 also be announced. The date is September 20, 2017, at 6:00 PM in the Council Chambers at City Hall.
Adopt Resolution 17-09 establishing a tentative ad valorem millage rate of __________ for fiscal year 2017-2018.
City Council Action:
( ) Approved As Recommended
( ) Approved With Modification
( ) Disapproved
( ) Continued Date:
( ) Other