File #: ID 2025-226    Version: 1 Name:
Type: Resolution Status: Agenda Ready
File created: 8/21/2025 In control: City Commission Budget Hearing
On agenda: 9/10/2025 Final action:
Title: APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2025/2026 IN THE AMOUNT OF 7.5378 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES 0.4207 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 7.1171 IS 7.47% HIGHER THAN THE ROLL-BACK RATE OF 6.6221.
Attachments: 1. RESOLUTION
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TO:                     Mayor and City Commission

 

FROM:                     Cale Curtis, City Manager

 

DATE:                     September 10, 2025

 

 

Title

APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2025/2026 IN THE AMOUNT OF 7.5378 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES 0.4207 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 7.1171 IS 7.47% HIGHER THAN THE ROLL-BACK RATE OF 6.6221.

 

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BACKGROUND:                     The proposed FY 2025/2026 millage for the City is 7.5378 mills per thousand dollars of assessed valuation including 0.4207 mills for voted debt service. The operating millage rate for FY 2025/2026 of 7.1171 was not increased from FY 2024/2025.   Total proposed millage decreased by 0.0289 from the prior year. 

 

RECOMMENDATION:                     Approve.

 

 

FISCAL IMPACT:                     As per Fiscal Year 2025/2026 budget.

 

 

CONTACT PERSON:                                          Ismael Diaz, Finance Director