File #: ID 2016-464    Version: 1 Name:
Type: Resolution Status: Passed
File created: 7/26/2016 In control: City Commission Budget Hearing
On agenda: 9/21/2016 Final action: 9/21/2016
Title: APPROVING THE MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2016/2017 IN THE AMOUNT OF 7.0593 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .6039 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 6.4554 IS 9.24% 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 21, 2016

 

 

Title

APPROVING THE MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2016/2017 IN THE AMOUNT OF 7.0593 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .6039 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 6.4554 IS 9.24% HIGHER THAN THE ROLL-BACK RATE OF 5.9092.

Body

 

 

BACKGROUND:                     This agenda item is for approval of a millage rate for the City, for Fiscal Year 2016/2017, of 7.0593 mills per thousand dollars of assessed valuation (.25 mills less than the total millage rate for the City in FY 2015/2016) including 0.6039 mills for voted debt service. The operating millage rate for FY 2016/2017 of 6.4554 is an increase of 1.82% from FY 2015/2016.

 

RECOMMENDATION:                     Approve

 

 

FISCAL IMPACT:                     As per Fiscal Year 2016/2017 budget

 

 

CONTACT PERSON:                     Mary Beazley, Finance Director