SUBJECT/RECOMMENDATION:
Title
Set a final millage rate of 0.9700 mills for fiscal year 2024/25 and pass resolution 24-04 on first reading.
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.
At the July 15, 2024, 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 5.65% increase from the rolled back rate of 09181 mills.
Resolution 24-04 is presented to adopt the millage rate of 09700 mills to support the operating budget for fiscal year 2024/25 and will be adopted at second reading on September 14, 2024.