File #: ID 2022-358    Version: 1 Name:
Type: Resolution Status: Filed
File created: 8/22/2022 In control: City Commission Budget Hearing
On agenda: 9/12/2022 Final action: 9/12/2022
Title: APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2022/2023 IN THE AMOUNT OF 7.6508 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .5337 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 7.1171 IS 11.00% HIGHER THAN THE ROLL-BACK RATE OF 6.4119.
Attachments: 1. RESOLUTION

 

TO:                     Mayor and City Commission

 

FROM:                     Cale Curtis, City Manager

 

DATE:                     September 12, 2022

 

 

Title

APPROVING THE PROPOSED MILLAGE RATE FOR THE CITY OF MARGATE FISCAL YEAR 2022/2023 IN THE AMOUNT OF 7.6508 MILLS PER THOUSAND DOLLARS OF ASSESSED VALUATION (WHICH INCLUDES .5337 FOR VOTED DEBT SERVICE); THAT THE OPERATING MILLAGE RATE OF 7.1171 IS 11.00% HIGHER THAN THE ROLL-BACK RATE OF 6.4119.

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BACKGROUND:                     The proposed FY 2022/2023 millage for the City is 7.6508 mills per thousand dollars of assessed valuation including 0.5337 mills for voted debt service. The operating millage rate for FY 2022/2023 of 7.1171 was not increased from FY 2021/2022.   Total proposed millage decreased by .0637 from the prior year. 

 

RECOMMENDATION:                     Approve.

 

 

FISCAL IMPACT:                     As per Fiscal Year 2022/2023 budget.

 

 

CONTACT PERSON:                                          Ismael Diaz, Finance Director