 |  | 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: | 8/3/2021 | | RE: | Resolution No. 2021-47: 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 2021-2022 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 4, 2021.
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 8.5000, which accomplishes the City Council’s goal of a guaranteed lower millage rate. The current millage rate is 8.7500. The estimated ad valorem tax revenue presented to City Council on July 13, 2021, was estimated based on a millage rate of 8.5000.
The first public hearing on the tentative budget and millage rate has been tentatively scheduled for Thursday, September 9, 2021 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 8.5000 mills and establish the first public hearing on September 9, 2021 at 6 p.m., as proposed by way of ratification of Resolution No. 2021-47.
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 FY21-22 Budget.
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