HomeMy WebLinkAboutVI (C) Set Tentative Millage Rate AGENDA 7-18-95
"CENTER OF GOOD LIVING -PRIDE OF WEST ORANGE" Item VI C
Ocoee
COMMISSIONERS
CITY OF OCOEE RUSTY JOHNSON
PAUL W.FOSTER
150 N.LAKESHORE DRIVE SCOTT A.GLASS
c# (4) ?V OCOEE,FLORIDA 34761-2258 JIM GLEASON
A` (407)656-2322
404, �� CITY MANAGER
4T Of 0000 ELLIS SHAPIRO
MEMORANDUM
TO: The Honorable Mayor and Board of City Commissioners
FROM: Ellis Shapiro, City Manager
DATE: July 13, 1995
RE: TRIM TIMETABLE; PROPOSED MILLAGE RATE
The Trim Timetable requires us to advise the Property Appraiser of the FY 96 proposed
millage rate by August 4, 1995. It is time to decide on the millage rate to submit. The
following is submitted to assist you in making your decision:
(1 ) The property value increase over last year is $38,001,959.00.
(2) 1 mill generates $506,809.00.
(3) The rolled-back rate is 4.003 per $1,000 and would produce $2,028,759.00 in
revenue.
(4) The current rate of 4.00 per $1,000 would produce $2,027,238.00 in revenue.
(This is an increase of $227,018.00 over current year revenue.)
(5) An increase to 5.00 per $1,000 would produce $2,534,048.00 in revenue. An
increase to 4.50 per $1,000 would produce $2,280,643.00 in revenue.
The Trim Act requires that whatever millage is set by you today and sent to the Property
Appraiser cannot be increased after August 4. However, it should also be understood that
whatever millage rate you propose will be sent to all property owners within Ocoee directly
after August 4, 1995.
The rolled-back rate would result in an additional $1,521.00.
While I think it is important that each segment of the community pay its fair share and even
though there has not been a millage increase in over half a decade, due to the current
economic condition of our country I do not feel that an increase in the millage rate is
warranted at this time. Therefore, I recommend the current rate of 4 mills be continued.
Respectfully Submitted,
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