City of Margate - File #: ID 14-1286

• File #: ID 14-1286
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 8/12/2015
• In control: City Commission Budget Hearing
• On agenda: 9/15/2015
• Final action: 9/15/2015
• Title: APPROVING THE MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2015/2016 IN THE AMOUNT OF 7.3093 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES 0.9691 FOR VOTED DEBT SERVICE); THE OPERATING MILLAGE RATE OF 6.3402 IS 9.10% HIGHER THAN THE ROLL-BACK RATE OF 5.8114.

Date	Ver.	Action By	Action	Result
9/15/2015	1	City Commission Budget Hearing

TO:                     Mayor and City Commission

FROM:                     Douglas E. Smith, City Manager

DATE:                     September 15, 2015

Title

APPROVING THE MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2015/2016 IN THE AMOUNT OF 7.3093 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES 0.9691 FOR VOTED DEBT SERVICE); THE OPERATING MILLAGE RATE OF 6.3402 IS 9.10% HIGHER THAN THE ROLL-BACK RATE OF 5.8114.

Body

BACKGROUND:                     This agenda item is for approval of a millage rate for the City, for Fiscal Year 2015/2016, of 7.3093 mills per thousand dollars of assessed valuation (same total millage rate for the City as FY 2014/2015) including 0.9691 mills for voted debt service. The operating millage rate for FY 2015/2016 of 6.3402 is an increase of 1.0% from FY 2014/2015. This is the second lowest operating millage rate since FY 2008.                     

RECOMMENDATION:                     Approve

FISCAL IMPACT:                     As per Fiscal Year 2015/2016 budget

CONTACT PERSON:                     Mary Beazley, Finance Director