File #: ID 2016-460    Version: 1 Name:
Type: Resolution Status: Filed
File created: 7/26/2016 In control: City Commission Budget Hearing
On agenda: 9/7/2016 Final action: 9/7/2016
Title: APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2016/2017 IN THE AMOUNT OF 7.3093 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .6039 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 6.7054 IS 13.47% HIGHER THAN THE ROLL-BACK RATE OF 5.9092.
Attachments: 1. RESOLUTION

 

TO:                     Mayor and City Commission

 

FROM:                     Douglas E. Smith, City Manager

 

DATE:                     September 7, 2016

 

 

Title

APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2016/2017 IN THE AMOUNT OF 7.3093 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .6039 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 6.7054 IS 13.47% HIGHER THAN THE ROLL-BACK RATE OF 5.9092.

 

Body

 

BACKGROUND:                     The proposed FY 2016/2017 millage for the City is 7.3093 mills per thousand dollars of assessed valuation (same total millage rate for the City as FY 2014/2015 and 2015/2016) including 0.6039 mills for voted debt service. The operating millage rate for FY 2016/2017 of 6.7054 is an increase of .3652 from FY 2015/2016.

 

RECOMMENDATION:                     Approve.

 

 

FISCAL IMPACT:                     As per Fiscal Year 2016/2017 budget.

 

 

CONTACT PERSON:                     Mary Beazley, Finance Director