File #: ID 2020-282    Version: 1 Name:
Type: Resolution Status: Passed
File created: 8/12/2020 In control: City Commission Budget Hearing
On agenda: 9/3/2020 Final action: 9/3/2020
Title: APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2020/2021 IN THE AMOUNT OF 7.7383 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .6212 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 7.1171 IS 5.48% HIGHER THAN THE ROLL-BACK RATE OF 6.7471.
Attachments: 1. RESOLUTION

 

TO:                     Mayor and City Commission

 

FROM:                     Cale Curtis, City Manager

 

DATE:                     September 3, 2020

 

 

Title

APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2020/2021 IN THE AMOUNT OF 7.7383 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .6212 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 7.1171 IS 5.48% HIGHER THAN THE ROLL-BACK RATE OF 6.7471.

 

Body

 

BACKGROUND:                     The proposed FY 2020/2021 millage for the City is 7.7383 mills per thousand dollars of assessed valuation including 0.6212 mills for voted debt service. The operating millage rate for FY 2020/2021 of 7.1171 was not increased from FY 2020/2021.   Total proposed millage decreased by .0283 from the prior year. 

 

RECOMMENDATION:                     Approve.

 

 

FISCAL IMPACT:                     As per Fiscal Year 2020/2021 budget.

 

 

CONTACT PERSON:                                          Mary Beazley, Finance Director