File #: ID 2017-531    Version: 1 Name:
Type: Resolution Status: Agenda Ready
File created: 8/14/2017 In control: City Commission Budget Hearing
On agenda: 9/6/2017 Final action:
Title: APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2017/2018 IN THE AMOUNT OF 7.0593 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .5410 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 6.5183 IS 8.31% HIGHER THAN THE ROLL-BACK RATE OF 6.0180.
Attachments: 1. RESOLUTION
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TO:                     Mayor and City Commission

 

FROM:                     Samuel A. May, Interim City Manager

 

DATE:                     September 6, 2017

 

 

Title

APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2017/2018 IN THE AMOUNT OF 7.0593 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .5410 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 6.5183 IS 8.31% HIGHER THAN THE ROLL-BACK RATE OF 6.0180.

 

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BACKGROUND:                     The proposed FY 2017/2018 millage for the City is 7.0593 mills per thousand dollars of assessed valuation (same total millage rate for the City as FY 2016/2017) including 0.5410 mills for voted debt service. The operating millage rate for FY 2017/2018 of 6.5183 is an increase of .0629 from FY 2016/2017.

 

RECOMMENDATION:                     Approve.

 

 

FISCAL IMPACT:                     As per Fiscal Year 2017/2018 budget.

 

 

CONTACT PERSON:                                          Mary Beazley, Finance Director