TO: Mayor and Commissioners
FROM: Marie Kalka, Finance Director
THROUGH: Jennifer Alvarez, Interim City Manager
DATE: September 10, 2020
Title
RESOLUTION NO. 145-20: TENTATIVE MILLAGE LEVY
Body
Recommended Action:
Recommendation
Motion to approve Resolution No. 145-20 Tentative Millage Levy for FY 2021.
Body
Background:
This item before the Delray Beach City Commission is Resolution No. 145-20 which tentatively levies a tax on all properties in the City of Delray Beach (City) for FY 2021.
The proposed FY 2021 operating millage is 6.6611 while the proposed debt service millage is 0.1886. The operating millage is more than the rolled back rate (6.3950) by 3.99%. The total millage rate for FY 2021 (both operating and debt) is less than the total millage for FY 2020 by 0.0148 or -0.22%. The final operating and debt service millage rates will be determined by the City Commission on September 22, 2020.
The assessed valuation on all taxable property within the City for operating purposes is $11,934,933,061. The assessed valuation for debt service is $11,941,662,220.
Pursuant to the City Charter and TRIM requirements, a public hearing must be held prior to the adoption of the resolution.
The final FY 2021 millage rate and budget are scheduled for adoption on September 22, 2020.
Timing of Request:
This is the tentative adoption with the final adoption on September 22, 2020. The millage must be set prior to October 1, 2020.