SUBJECT/RECOMMENDATION:
Title
Set a final millage rate of 0.9700 mills for fiscal year 2025/26 within the Downtown Development Board boundaries and adopt Resolution 25-02.
Body
SUMMARY:
In accordance with Chapter 200 of the Florida Statues, which defines the requirements for the “Determination of Millage” and the rules governing “Truth in Millage” (TRIM) compliance; the Downtown Development Board (DDB), must hold two public hearings to adopt a final millage rate for the new fiscal year.
On July 7, 2025, Downtown Development Board set a tentative millage rate for 0.9700, which is the rate that appeared on the TRIM notices mailed to taxpayers in August. The millage rate of 0.9700 mills represents a 3.77% increase from the rolled back rate of 0.9348 mills.
Resolution 25-02 is presented to adopt the millage rate of 0.9700 mills to support the operating budget for fiscal year 2025/26 and will be adopted at second reading on September 17, 2025.
STRATEGIC PRIORITY:
The budget process for the Downtown Development Board aligns with the following strategic priorities.
