SUBJECT/RECOMMENDATION:
Title
Set final millage rate of 5.1550 mills for fiscal year 2014/15 against non-exempt real and personal property within the City of Clearwater and pass Ordinance 8584-14 on first reading.
Body
SUMMARY:
In accordance with Chapter 200 of the Florida Statutes, which defines requirements for the Determination of Millage and the rules governing Truth in Millage (TRIM) compliance, the City Council must hold two public hearings to adopt a final millage rate for the new fiscal year. The adoption of this ordinance to establish the millage rate and the two related budget ordinances are an integral part of fulfilling these requirements.
The City Council set a tentative millage rate of 5.1550 mills on July 17, 2014, which is the rate that appeared on the TRIM bill notices mailed to taxpayers in August. The millage rate of 5.1550 mills represents a 5.92% increase from the rolled back rate of 4.8667 mills.
Ordinance 8584-14 is presented in order to adopt the millage rate of 5.1550 mills to support the operating and capital improvement budgets for the 2014/15 fiscal year.