| | | | | | | |  |  | 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: | 8/4/2020 | | RE: | Resolution No. 2020-39: Establish Tentative Millage Rate |
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 2020-2021 Operating 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 5, 2020.
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 tax year.
Staff recommends setting the tentative millage at 8.7500, which matches the City’s current millage rate. Although it is staff’s intention to include a lower millage rate as part of the Preliminary FY20-21 Operating Budget, setting the tentative millage at 8.7500 is a conservative approach and will allow for more flexibility as City Staff work through final budget reviews and expected reductions in State Revenues.
The first public hearing on the tentative budget and millage rate has been tentatively scheduled for Thursday, September 10, 2020 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.
RECOMMENDATION:
It is recommended that the City Council approve the tentative millage rate of 8.7500 mills and establish the first public hearing on September 10, 2020 at 6 p.m., as proposed by way of ratification of Resolution No. 2020-39.
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 FY20-21 Budget. | | | |
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