HomeMy WebLinkAbout2011 07 25 Other Regular 600 Replacement Page Provided by Staff to Mayor and City Commission Date: July 25, 2011
This Agenda Item replacement page was
provided to the Mayor and City Commission by
City Staff at the July 25, 2011 City Commission
Regular Meeting, during the discussion of
Regular Agenda Item "600" (and replaces the
originally submitted page 1 of Regular Agenda
Item "600").
COMMISSION AGENDA
CONSENT �
ITEM 600 �ORMATIONAL
PUBLIC HEARING
July 25, 2011 REGULAR X
Regular Meeting
MGR /DEPT.
Authorization
REQUEST: The City Manager is requesting that the City Commission consider approval of
Resolution 2011-33, computing the Proposed Operating Millage Rate for Fiscal Year 2011-2012 at
2.4500 mills and voted debt service millage rate at 0.1100 mills establishing the rolled-back rate,
and setting the date, time and place of a public hearing to consider the proposed millage rate and
tentative budget for Fiscal Year 2011-2012.
SYNOPSIS:
To gain Commission agreement regarding the information to be communicated to the Property
Appraiser on the Form DR-420 which sets the proposed operating millage rate and voted debt service
millage rate; establishes the rolled-back rate; and sets the date, time and place for the public hearing to
consider the proposed millage rate and tentative budget. This millage rate will be communicated to each
property owner as the `most probable' number for their property taxes.
CONSIDERATIONS:
The FY 2010-2011 (current) millage rate consists of an operating millage rate of 2.4714 mills and a
voted debt service millage rate of 0.1100 mills. The FY 2011-2012 proposed budget as transmitted by
the City Manager on July 1, 2011, incorporated an operating millage rate of 2.4500 and a voted debt
service millage rate of 0.1100. Gross taxable value from the Property Appraiser as reflected on the DR
420 is $1,595,763,002 which is 5.6% less than the DR422 valuation from the prior fiscal year.
FY 11 FY 12
Adopted Proposed
Budget Budget Change
Operating Millage 2.4714 2.4500 0.0214
Voted Debt Millage 0.1100 0.1100 0.0000
Total Millage 2.5814 2.5600 0.0214
■ This resolution will establish the millage Yate cap. The final millage rate can be less than the
adopted millage rate cap, but it cannot exceed the cap without increased expense to the City and
administrative complication.