File #: ID#17-3667    Version: Name: Adopt tentative millage rate for FY2017/18 and set public hearing dates for September.
Type: Action Item Status: Passed
File created: 7/5/2017 In control: Office of Management & Budget
On agenda: 7/20/2017 Final action: 7/20/2017
Title: Adopt a tentative millage rate of 5.1550 mills for fiscal year 2017/18; set public hearing dates on the budget for September 7, 2017 and September 18, 2017, to be held no earlier than 6:00 p.m., and schedule a special council meeting on August 2, 2017 at 2:00 p.m. to fully discuss the proposed budget.
Attachments: 1. July 2017 - prelim presentation.pdf

SUBJECT/RECOMMENDATION:

Title

Adopt a tentative millage rate of 5.1550 mills for fiscal year 2017/18; set public hearing dates on the budget for September 7, 2017 and September 18, 2017, to be held no earlier than 6:00 p.m., and schedule a special council meeting on August 2, 2017 at 2:00 p.m.  to fully discuss the proposed budget.

 

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SUMMARY: 

In accordance with the Truth in Millage (TRIM) process, the City Council must adopt a tentative millage rate and set public hearing dates prior to finalizing and adopting a budget.  This information must be provided to the Pinellas County Property Appraiser and Tax Collector by August 4, 2017.  The City's proposed millage rate and public hearing dates will be included on the TRIM notices mailed to taxpayers in August.  This tentative rate cannot be increased without first-class mailing notification to each taxpayer at the expense of the City of Clearwater, not less than 10 days and not more than 15 days before the public hearing.

The City Manager's recommended millage rate is 5.1550 mills, the same millage rate as the current year.  This rate is 6.86% more than the rolled back rate of 4.8241 mills.  The rolled-back rate is the millage rate that will provide the City with the same property tax revenue as was levied in the prior year.  If the proposed millage rate of 5.1550 mills is adopted, the City's ordinance adopting the millage rate will reflect a 6.86% increase from the rolled-back rate of 4.8241 mills.

The proposed millage rate as well as other TRIM millage rates will be noted on the 2017 compliance forms as follows:

5.1550 mills - Tentative millage rate
4.8241 mills - Rolled-back millage rate
6.9632 mills - Maximum majority vote rate
7.6595 mills - Maximum two-thirds vote rate