File #: ID 2018-399    Version: 1 Name:
Type: Resolution Status: Passed
File created: 8/9/2018 In control: City Commission Budget Hearing
On agenda: 9/14/2018 Final action: 9/14/2018
Title: APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2018/2019 IN THE AMOUNT OF 7.0593 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .4999 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 6.5594 IS 8.55% HIGHER THAN THE ROLL-BACK RATE OF 6.0426.
Attachments: 1. RESOLUTION

 

TO:                     Mayor and City Commission

 

FROM:                     Samuel A. May, City Manager

 

DATE:                     September 14, 2018

 

 

Title

APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2018/2019 IN THE AMOUNT OF 7.0593 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .4999 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 6.5594 IS 8.55% HIGHER THAN THE ROLL-BACK RATE OF 6.0426.

 

Body

 

BACKGROUND:                     The proposed FY 2018/2019 millage for the City is 7.0593 mills per thousand dollars of assessed valuation (same total millage rate for the City as FY 2017/2018) including 0.4999 mills for voted debt service. The operating millage rate for FY 2018/2019 of 6.5594 is an increase of .0411 from FY 2017/2018.

 

RECOMMENDATION:                     Approve.

 

 

FISCAL IMPACT:                     As per Fiscal Year 2018/2019 budget.

 

 

CONTACT PERSON:                                          Mary Beazley, Finance Director