TO: Mayor and Commission AGENDA DATE: 9/16/2024
FROM: City Manager AGENDA ITEM: 6 - A
SUBJECT:
Title
Public Hearing - Resolution No. 2024-50, Adopting the Final Millage Rate - Levy of Ad Valorem taxes for FY 2024/2025.
Strategic Goal: Effective Governance and Productive Government
Body
LOCATION:
Citywide
COST:
N/A
SOURCE OF FUNDS:
Fiscal Year 2024/2025 Final Millage Rate
ORIGINATING DEPARTMENT:
Finance Department
POTENTIAL MOTION:
Recommendation
"I move to approve Resolution No. 2024-50 adopting the Final Millage Rate for Fiscal Year 2024/2025."
END
BACKGROUND:
Background
State law requires that the City hold a public hearing on the final budget and millage rate within 15 days after the adopting the tentative budget, the taxing authority shall advertise in a newspaper of general circulation in the county, its intent to finally adopt a millage rate and budget. A public hearing to finalize the budget and adopt a millage rate shall be held not to less than 2 days nor more than 5 days after the day that the advertisement is first published. During the hearing, the governing body of the taxing authority shall amend the adopted tentative budget as it sees fit, adopt a final budget, and adopt a resolution stating the millage rate to be levied.
At this hearing, the City will:
* First discuss the percentage increase in millage over the rolled-back rate. The final millage rate of 7.0000 reflects a 3.35% increase from the rolled-back rate of 6.7730 mills.
* Adopt a final millage (Resolution No. 2024-50) and final budget (Resolution No. 2024-51) by separate vote, and in that order as required by State Law.
* Prior to adopting the millage-levy resolution publicly announce:
o The City of Deltona, Florida
o The rolled-back rate is 6.7730
o The percentage increase over the rolled-back rate is 3.35%
o The millage rate to be levied is 7.0000.
Upon approval of this item, the authorizes all necessary actions, documents or budget transfer ...
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