TO: Mayor and Commission AGENDA DATE: 7/21/2025
FROM: City Manager AGENDA ITEM: 7 - A
SUBJECT:
Title
Resolution No. 2025-84 - Maximum Millage Rate for Fiscal 2025-26
Body
LOCATION:
City Hall
COST:
Not Applicable
SOURCE OF FUNDS:
Ad Valorem Proceeds
ORIGINATING DEPARTMENT:
Finance
POTENTIAL MOTION:
Recommendation
“I move to Approve Resolution No. 2025-84.”
END
BACKGROUND:
Background
This is a request for the City Council to establish the tentative maximum fiscal year FY 2025-26 millage rate and schedule the public hearings for the FY 2025-26 Proposed Budget. The maximum millage and budget hearing dates require public notifications under the Florida Truth in Millage (TRIM) statutes.
The property appraiser will use the maximum millage rate voted on during this meeting in the Notice of Proposed Property Taxes and mail it to all property owners in August. The City Council may reduce the tentative millage rate below the maximum millage rate; however, the City Council cannot increase the tentative millage rate above the maximum millage rate without another public notification to all City property owners. For practical purposes, the rate approved at this meeting will establish the maximum property tax millage rate for the next fiscal year.
The current year's operating millage rate is $7.0000 per $1,000 assessed taxable value;
the current year's total taxable value for operating purposes is $5,671,597,678 as certified by the Volusia County Property Appraiser. The current year's rolled-back millage rate is $6.5494 per $1,000 assessed value. If the prior year millage rate of $7.0000 per $1,000 were assessed, this would be an increase of 6.88% above the roll-back millage rate
Per Florida Statutes and the Truth in Millage (TRIM) Timetable, staff must recommend
certain dates for the required public hearings. The recommended dates and times are
as follows:
1. Tentative Hearing - Wednesday, September 3, at 6:30 p.m.
2. Final Hearing - Monday, September 15, at 6:30 p.m.
.End