SUBJECT/RECOMMENDATION:
Title
Adopt a tentative millage rate of 5.9550 mills for fiscal year 2020/21; set public hearing dates on the budget for September 3, 2020 and September 17, 2020, to be held no earlier than 6:00 p.m., and schedule a special work session on July 28, 2020 at 9:00 a.m. to discuss the proposed budget.
Body
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, 2020. 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 5.9550 mills, the same as the current year. This rate is 5.12% more than the rolled back rate of 5.6649 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 5.9550 mills is adopted, the City's ordinance adopting the millage rate will reflect a 5.12% increase from the rolled-back rate of 5.6649 mills.
The proposed millage rate as well as other TRIM millage rates will be noted on the 2020 compliance forms as follows:
5.9550 mills - Tentative millage rate
5.6649 mills - Rolled-back millage rate
6.4651 mills - Maximum majority vote rate
7.1116 mills - Maximum two-thirds vote rate
Staff would also like to schedule a special council meeting to fully discuss the proposed budget. The following dates are dates available: Tuesday, July 28 at 9 a.m., and Tuesday, August 4 at 9 a.m.