TO: Mayor and Commissioners
FROM: India Adams, Assistant City Manager
THROUGH: Mark R. Lauzier, City Manager
DATE: September 25, 2018
Title
RESOLUTION NO. 106-18 FINAL MILLAGE LEVY FOR THE CITY OF DELRAY BEACH (CITY)
Body
Recommended Action:
Recommendation
Motion to approve Resolution No. 106-18 Final Millage Levy for FY 2019 for the City of Delray Beach.
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Background:
The item before the City of Delray Beach City Commission is Resolution No. 106-18 which levies a tax on all properties within the City of Delray Beach for FY 2019. The proposed total millage for FY 2019 is 6.9719.
The FY 2019 operating millage is 6.7611 and the FY 2019 debt service millage is 0.2108, The proposed operating millage is greater than the rolled back millage rate (6.5482) by 2.99%. The total millage rate for FY 2019 (both operating and debt) is 6.9719 which is less than the FY 2018 total millage rate of 7.0900.
The assessed valuation on all taxable properties within the City for operating purposes is $10,439,027,988. The assessed valuation for debt service is $10,442,797,028. The reason for the differential is the exemptions that were granted to historic properties in the City are applied to the operating millage only.
Pursuant to the City Charter and TRIM requirements, a public hearing must be held prior to the adoption of the resolution.
Timing of Request:
This is the final adoption of the millage levy.
Attachment:
Resolution No. 106-18