TO: Mayor and City Commission
FROM: Cale Curtis, City Manager
DATE: September 16, 2026
Title
APPROVING THE MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2026/2027 IN THE AMOUNT OF 7.5159 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES 0.3988 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 7.1171 IS 5.15% HIGHER THAN THE ROLLED-BACK RATE OF 6.7688.
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BACKGROUND: This agenda item is for approval of a millage rate for the City, for Fiscal Year 2026/2027, of 7.5159 mills per thousand dollars of assessed valuation. The breakdown of that millage rate is shown below.
Operating Millage 7.1171
G.O. Refunding Bond, Series 2016 Debt Service Millage 0.2765
G.O. Bond, Series 2019 Debt Service Millage 0.1223
Total Millage 7.5159
The operating millage rate for FY 2026/2027 of 7.1171 is the same millage rate as FY 2025/2026.
RECOMMENDATION: Approve
FISCAL IMPACT: As per Fiscal Year 2026/2027 budget
CONTACT PERSON: Ismael Diaz, Finance Director