COUNCIL AGENDA ITEM
SUBJECT:
title
Maximum Millage Levy - Edgewater Operating Fiscal Year 2024-2025
body
DEPARTMENT:
Finance
SUMMARY:
In conjunction with the Notice of Proposed Property Taxes (TRIM Notice) pursuant to section 200.069, F.S., the Council must authorize advertisement of the maximum millage rate for the upcoming budget year. The current operating millage rate is $6.33 per $1,000 assessed taxable value; the current taxable value is $1,980,687,502. The current year rolled-back millage rate is $5.8121 per $1,000 assessed value. With the current year rolled-back rate, the preliminary ad valorem taxes for the Fiscal Year 2025 would be $10,936,356 at 95%. At the current year millage rate of $6.33 per $1,000 of taxable value would produce an estimated $11,910,864 in preliminary ad valorem taxes.
BUDGETED ITEM: ☐ Yes ☐ No ☒ Not Applicable
BUDGET AMENDMENT REQUIRED: ☐ Yes ☐ No ☒ Not Applicable
RECOMMENDED ACTION:
Council to Authorize the Edgewater Operating Maximum Millage to be advertised as part of the 2024 TRIM Notice