HomeMy WebLinkAboutVII (B) Set Tentative Millage Rate /7 Agenda 7-20-99
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MEMORANDUM
To: The Honorable Mayor and Board of City Commissioners
From: Ellis Shapiro, City Manager
Date: July 14, 1999
Re: TRIM TIMETABLE; PROPOSED MILLAGE RATE
The Trim timetable requires us to advise the Property Appraiser of the FY2000 proposed
millage rate by August 4, 1999. 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 S64,462,838.
One mil generates $885,828.
The rolled-back rate is 3.908 per $1,000 of taxable value and would produce S3,461,817 in
revenue.
The current rate of 4.000 mils per S1,000 of taxable value would produce $3,543,313 in
revenue. (This is an increase of$257,850 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 4, 1999. However, it should also be understood
that the rate can be decreased after the budget workshops are completed. Please note that
whatever millage rate you propose now will he sent to all property owners within Ocoee
directly after August 4, 1999.
The proposed budget for FY2000 is based upon a 4 mil tax rate; therefore, I recommend
the current rate of 4 mils be continued.
Respectfully su ted,
POWY -
FISCAL YEAR 1999-2000
PROPOSED GROSS VALUE
CITY POPULATION MILLAGE TAXABLE OF ONE
RATE VALUE MIL
ALTAMONTE SPRINGS 40,000 4.4224 1,930,640,157 1,930,640.16
APOPKA 21,165 3.7619 888,287,422 888,287.42
CASSELBERRY 24,839 4.9000 743,922,248 743,922.25
COCOA 18,000 4.1321 344,150,867 344,150.87
KISSIMMEE 39,330 information not available at this time
LAKE MARY 9,409 3.7648 964,129,840 964,129.84
LONGWOOD 13,851 5.0601 622,329,177 622,329.18
MAITLAND 10,100 3.4000 1,171,577,344 1,171,577.34
OCOEE 22,117 4.0000 885,828,371 885,828.37
OVIEDO information not available at this time
SANFORD 37,000 6.7900 1,119,846,217 1,119,846.22
ST. CLOUD 17,198 4.1790 435,646,601 435,646.60
TARPON SPRINGS 20,161 5.4541 806,841,090 806,841.09
WINTER GARDEN 12,762 4.3040 411,267,416 411,267.42
WINTER PARK 24,855 3.1720 2,017,012,477 2,017,012.48
WINTER SPRINGS 28,404 information not available at this time