HomeMy WebLinkAboutVII (C) 1. Discussion/ Action re: Budget - Set Proposed Millage Rate Agenda 7-21-98
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"CENTER OF GOOD LIVING-PRIDE OF WEST ORANGE" lie.MAY�e�n OR•I bIlrC 11SStONSR
S.SCOTT VANDERGRIFT
Ocoee COMMISSIONERS
cis` CITY OF OCOEE DANNY HOWELL
.rt. • O SCOTT ANDERSON
a. 150 N. LAKESHORE DRIVE SCOTT A.GLASS
444..riii iiiO OCOEE,FLORIDA 34761-2258 NANCY J.PARKER
v (407)656-2322
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e) ? CITY MANAGER
ELLIS SHAPIRO
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MEMORANDUM
TO: The Honorable Mayor and Board of City Commissioners
FROM: Ellis Shapiro, City Manager
DATE: July 14, 1998
RE: TRIM TIMETABLE; PROPOSED MILLAGE RATE
The Trim Timetable requires us to advise the Property Appraiser of the FY99 proposed
millage rate by August 3, 1998. It is time to decide on the millage rate to submit. The
following is submitted to assist you in making your decision:
The property value increase over last year is $69,303,073.
One mill generates $820,529.
The rolled-back rate is 3.931 per $1,000 of taxable value and would produce $3,225,500 in
revenue.
The current rate of 4.00 mils per $1,000 of taxable value would produce $3,282,117 in
revenue. (This is an increase of$300,640 over current year revenue.)
The Trim Act requires that whatever millage is set by you today and sent to the Property
Appraiser cannot be increased after August 3, 1998. However, it should also be understood
that whatever millage rate you propose will be sent to all property owners within Ocoee
directly after August 3, 1998.
It should be mentioned that the proposed budget is balanced on a 4 mil tax rate; therefore,
I recommend the current rate of 4 mils be continued.
Respectfully Subm• d,
ins/
FISCAL YEAR 1998-1999
PROPOSED GROSS VALUE
MILLAGE TAXABLE OF ONE
CITY RATE VALUE MIL
OCOEE 4.0000 820,529,329.00 820,529.33
ALTAMONTE SPRINGS 4.7500 1,714,175,976.00 1,714,175.98
APOPKA 3.7619 817,055,239.00 817,055.24
LAKE MARY 3.7648 798,998,558.00 798,998.56
CASSELBERRY 4.9000 708,444,278.00 708,444.28
KISSIMMEE 4.5453 1,233,574,249.00 1,233,574.25
MAITLAND 3.2700 1,095,370,647.00 1,095,370.65
OVIEDO 4.9950 771,610,857.00 771,610.86
SANFORD 6.8700 1,057,706,772.00 1,057,706.77
WINTER GARDEN 4.3040 370,560,580.00 370,560.58
WINTER SPRINGS 3.6000 854,119,200.00 854,119.20