Item Coversheet
      

5919 MAIN STREET .  NEW PORT RICHEY, FL 34652 . 727.853.1016


TO:City of New Port Richey City Council
FROM:Crystal S. Feast, Finance Director
DATE:8/2/2016
RE:Resolution No. 2016-19, Establish Tentative Millage for TRIM

REQUEST:
The attached Resolution will establish a tentative millage rate and the date, time, and place of the first public hearing on the levy of the proposed FY 2016-2017 Budget for purposes of public notification under the Florida TRIM Statutes. The Pasco County Property Appraiser must be given this information on or before August 4, 2016.

DISCUSSION:

Under the TRIM (Truth in Millage) Statute, all property owners are to be notified of this proposed levy by a mailing from the Pasco County Property Appraiser. The City Council may subsequently reduce this millage, but cannot increase the levy without an additional public notification to all City property owners. Practically, this resolution establishes the maximum property tax levy for the next fiscal year.

 

Staff recommends setting the tentative millage at 9.2000, which accomplishes the City Council’s goal of a guaranteed lower millage rate. The current millage rate is 9.2500.  The estimated ad valorem tax revenue presented to City Council on July 5, 2016, was estimated based on a millage rate of 9.1500.

 

The first public hearing on the tentative budget and millage rate has been tentatively scheduled for Tuesday, September 13, 2016 at 6 p.m., in the City Council Chambers, 5919 Main Street, New Port Richey, FL 34652, which will not conflict with School Board and County public hearing dates. Although not required to be included with the Property Appraiser's notice to taxpayers, the second public hearing is tentatively scheduled to be on Tuesday, September 20, 2016 at 6 p.m.



RECOMMENDATION:

It is recommended the City Council approve the tentative millage rate of 9.2000 mills and establish the first public hearing on September 13, 2016 at 6 p.m., as proposed via ratification of Resolution No. 2016-16.



BUDGET/FISCAL IMPACT:
No effect at this time.  Once a final millage rate is adopted, the determined rate will have a fiscal impact on the FY16-17 Budget.
ATTACHMENTS:
DescriptionType
Resolution No. 2016-19, Establish Tentative Millage for TRIMResolution Letter