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:11/12/2019
RE:Final Public Hearing - Resolution No. 2019-16: Adopting Final Millage Rate for FY2020 - Page 3

REQUEST:

The request is for City Council to conduct another final public hearing to adopt Resolution No. 2019-16, setting the final millage rate at 8.7500 mills for FY2019-2020.



DISCUSSION
:

Due to an error in the advertisement of the FY2019-2020 Budget Summary, the City is required to re-advertise and hold another Final Public Hearing on the millage rate for FY2019-2020.   The City is also required to readopt and ratify Resolution No. 2019-16, which was originally approved on on September 24, 2019. 

 

At the Public Hearing, the Mayor will announce the formal procedures, which must be followed in order to maintain compliance with Florida's laws and rules. The proposed millage rate is below the rollback rate; therefore, this process is simplified as the rules are in place to guarantee compliance when the effective tax rate increases. It is recommended that the City follow the proper protocol to remain in good standing with the Florida Department of Revenue and their property tax oversight role.



RECOMMENDATION:

Staff recommends that City Council conduct the final public hearing on Resolution No. 2019-16, which will adopt the final millage rate of 8.7500 mills.




BUDGET/FISCAL IMPACT:

The adopted millage rate will be incorporated in establishing an estimate of Ad Valorem Tax Revenue for FY2019-2020.

ATTACHMENTS:
DescriptionType
Resolution No. 2019-16, Adopting Final Millage RateResolution Letter