City of Margate - File #: ID 2017-592

• File #: ID 2017-592
• Version: 1
• Type: Resolution
• Status: Passed
• File created: 9/6/2017
• In control: City Commission Budget Hearing
• On agenda: 9/19/2017
• Final action: 9/19/2017
• Title: APPROVING THE 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.

Date	Ver.	Action By	Action	Result
9/19/2017	1	City Commission Budget Hearing

TO:                     Mayor and City Commission

FROM:                     Samuel A. May, Interim City Manager

DATE:                     September 19, 2017

Title

APPROVING THE 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.

Body

BACKGROUND:                     This agenda item is for approval of a millage rate for the City, for Fiscal Year 2017/2018, of 7.0593 mills per thousand dollars of assessed valuation (the same total millage rate for the City in 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 0.97% from FY 2016/2017.

RECOMMENDATION:                     Approve

FISCAL IMPACT:                     As per Fiscal Year 2017/2018 budget

CONTACT PERSON:                     Mary Beazley, Finance Director