HomeMy WebLinkAboutVII(D) Set Millage Rate for FY 2005 Agenda 7/20/04
tet of GoodCommissibir h VII D
Mayor the Cen L;1,
S. Scott Vandergrift ^rr_ Danny Howell, District 1
Scott Anderson, District 2
City Manager Rusty Johnson, District 3
Robert D. Frank Nancy J. Parker, District 4
STAFF REPORT
TO: The Honorable Mayor and City Commissioners
FROM: Robert Frank, City Manager
DATE: July 12, 2004
RE: SETTING THE PROPOSED MILLAGE RATE
ISSUE
Should the Commission approve a proposed millage rate of 4.5789?
BACKGROUND/DISCUSSION
The TRIM timetable requires the city to advise the County Property Appraiser of the FY 2005
proposed millage rate by August 4, 2004. The following is submitted to assist you in making
your decision.
The property value increase over last year is $146,913,421.
One mil generates $1,388,531.
The rolled-back rate is 4.3081 per$1,000 of taxable value and would produce$5,981,929 in
revenue. (This would be an increase of$296,688 over current year revenue)
The current rate of 4.5789 per$1,000 of taxable value would produce $6,357,943 in revenue.
(This would be an increase of$672,702 over current year revenue).
The current millage rate (4.5789) will generate $376,014 more in revenue than the rolled-back
rate(4.3081).
The millage rate set by you at this meeting will be sent to all property owners within the City of
Ocoee directly after August 4, 2004.
RECOMMENDATION
I recommend we hold the millage rate at 4.5789 at this time.
Certification of Taxable Value DR-420
SECTION I R.01/95
2004Year To c�COEE
(Name of Taxing Authority)
ORANGE
County
(1) Current Year Taxable Value of Real Property for Operating Purposes $ 1,302,055,918
(2) Current Year Taxable Value of Personal Property for Operating Purposes $ 86,474,682
(3) Current Year Taxable Value of Centrally Assessed Property for Operating Purposes $ 0
(4) Current Year Gross Taxable Value for Operating Purposes(1)+(2) +(3) $ 1,388,530,600
(5) Current Year Net New Taxable Value(New Construction+Additions+ Rehabilitative 68,878,066
Improvements Increasing Assessed Value By At Least 100%+Annexations- Deletions) $
(6) Current Year Adjusted Taxable Value(4)-(5) $ 1,319,652,534
(7) Prior Year Final Gross Taxable Value $ 1,241,617,179
(From Prior Year Applicable Form DR-403 Series)
I do hereby certify the values show herein to be correct to the best of my knowledge and belief.Witness my hand and official signature
at ORLANDO , Florida.this the 24TH day of JUNE ,20 04 .
ate
Signature of Property Appraiser
TAXING AUTHORITY: If this portion of the form is not completed in FULL your Authority will be denied TRIM certification and
possibly lose its millage levy privilege for the tax year.If any line is inapplicable,enter N/A or-0-.
SECTION II [� $Q
(8) Prior Year Operating Millage Levy $ -I. t / per$1,000
(9) Prior Year Ad Valorem Proceeds (7)x(8) $ 5) Cob 5 aq 1
(10)Current Year Rolled-Back Rate (9)divided by(6) $ 1-11 3O I per$1,000
(11)Current Year Proposed Operating Millage Rate $ 4b 5 ) F51 per$1,000
(12)Check TYPE of Taxing Authority: County Dependent District Municipal Service Taxing Unit
}�Municipality Independent Multi-County Water Management District
f t Special District
(13)IF DEPENDENT SPECIAL DISTRICT OR MSTU IS MARKED,PLEASE SEE REVERSE SIDE.
(14)Current Year Millage Levy for VOTED DEBT SERVICE $ per$1,000
(15)Current Year Millage Levy for OTHER VOTED MILLAGE $ -tee' per$1,000
DEPENDENT SPECIAL DISTRICTS SKIP lines(16)through(22) ._
(16) Enter Total Prior Year Ad Valorem Proceeds of ALL DEPENDENT Special Districts $
and MSTU's levying a millage. (The sum of Line(9)from each District's Form DR-420)
(17)Total Prior Year Proceeds: (9)+(16) $ 5) Lo.5) 1-1 1� f
(18)The Current Year Aggregate Rolled-back Rate: (17)divided by(6) $ ct"I i 3 C e 1 per$1,000
(19)Current Year Aggregate Rolled-back Taxes: (4)x(18) $ d2,I.0,
AI
(20) Enter Total of all non-voted Ad Valorem Taxes proposed to be levied by the Principal $ �' 3
Taxing Authority,all Dependent Districts,and MSTU's if any. Line (11)x Line(4) ) Q
(21)Current Year Proposed Aggregate Millage Rate: (20)divided by(4) $ 9i 5 , R9 per$1,000
(22)Current Year Proposed Rate as a PERCENT CHANGE of Rolled-back Rate:
[(Line 21 divided by Line 18)- 1.00]x 100 42i a s 5 S %
Date,Time and Place of the first Public Budget Hearing:
I do hereby certify the millages and rates shown herein to be correct to the best of my knowledge and belief. FURTHER, I certify that
all millages comply with the provisions of Section 200.071 or 200.081, F.S.WITNESS my hand and official signature at
, Florida,this the day of ,20
Signature of Chief Administrative Officer and Title Address of Physical Location
Mailing Address Name of Contact Person
City State Zip Phone# Fax#
See Instructions on Reverse Side