TO: Mayor and Commission AGENDA DATE: 9/4/2024
FROM: City Manager AGENDA ITEM: 6 - A
SUBJECT:
Title
Public Hearing - Resolution No. 2024-46, Adopting the Tentative 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 Tentative Millage Rate
ORIGINATING DEPARTMENT:
Finance Department
POTENTIAL MOTION:
Recommendation
“I move to approve Resolution No. 2024-46 adopting the Tentative Millage Rate for Fiscal Year 2024/2025.”
END
BACKGROUND:
Background
State law requires that the City hold a public hearing on the tentative budget and millage rate between 65 and 80 days from the date (July 1, 2024) of certification of taxable value provided by the Property Appraiser. This hearing was publicized via the TRIM Notice mailed by the County Property Appraiser on or about August 21, 2024.
At this hearing, the City will:
• First discuss the percentage increase in millage over the rolled-back rate. The tentative millage rate of 7.0000 reflects a 3.35% increase from the rolled-back rate of 6.7730 mills.
• Adopt a tentative millage (Resolution No. 2024-46) and tentative budget (Resolution No. 2024-47) by separate vote, and in that order as required by State Law.
• Prior to adopting the millage-levy resolution, the name of the taxing authority (City of Deltona, Florida), the rolled-back rate (6.7730), and the percentage increase or decrease compared to the rolled-back rate (3.35% increase), and the millage rate to be levied (7.0000) must be publicly announced. The tentative millage rate and budget will be used to advertise the final budget scheduled for September 16, 2024.
End