File #: ID 2023-256    Version: 1 Name:
Type: Resolution Status: Filed
File created: 8/8/2023 In control: City Commission Budget Hearing
On agenda: 9/11/2023 Final action: 9/11/2023
Title: APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2023/2024 IN THE AMOUNT OF 7.6004 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .4833 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 7.1171 IS 9.44% HIGHER THAN THE ROLL-BACK RATE OF 6.5031.
Attachments: 1. RESOLUTION

 

TO:                     Mayor and City Commission

 

FROM:                     Cale Curtis, City Manager

 

DATE:                     September 11, 2023

 

 

Title

APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2023/2024 IN THE AMOUNT OF 7.6004 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .4833 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 7.1171 IS 9.44% HIGHER THAN THE ROLL-BACK RATE OF 6.5031.

 

Body

 

BACKGROUND:                     The proposed FY 2023/2024 millage for the City is 7.6004 mills per thousand dollars of assessed valuation including 0.4833 mills for voted debt service. The operating millage rate for FY 2023/2024 of 7.1171 was not increased from FY 2022/2023.   Total proposed millage decreased by .0504 from the prior year. 

 

RECOMMENDATION:                     Approve.

 

 

FISCAL IMPACT:                     As per Fiscal Year 2023/2024 budget.

 

 

CONTACT PERSON:                                          Ismael Diaz, Finance Director