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Resolution 17-24, Final Millage Rate
Attachments:
Attachment NameAttachment SizeAttachment Date
Size: 15K
Last Updated: 2017/9/15
City of DeBary SealCity Council Meeting
City of DeBary
AGENDA ITEM





Subject:  Resolution No. 17-24, Adopting a Final Millage Rate FY 2017-2018.
  
From:   Ron McLemore, City Manager
             
Meeting/Hearing Date:  September 20, 2017

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


  Summary/Highlights

  Resolution No. 17-24 will adopt the Ad valorem Tax Rate for Fiscal Year 2017-2018.


Discussion

At the first public hearing the City Council adopted a Tentative Ad Valorem Millage Rate of 2.9247 for FY 2017-2018.

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 is1.99% higher than the computed rolled-back rate of 2.8676 and therefore is a tax increase.


 Recommended Motion

  Adopt Resolution No. 17-24 Final Millage Rate for FY 2017-2018.



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