SUBJECT
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Set Proposed Millage Rate for the Library Municipal Service Taxing Unit (MSTU) for Fiscal Year 2024/2025.
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DESCRIPTION
Pursuant to the statutory timetable for Truth in Millage (TRIM) compliance (Florida Statute 200.065), within 35 days of the certification of value from the Polk County Property Appraiser, each taxing authority shall advise the Property Appraiser of:
a. Proposed millage rate
b. Current year rolled-back rate
c. Date, time, and place of the Tentative Budget Public Hearing
Therefore, to be in compliance with TRIM statutory timetable, it is requested that Board of County Commissioners set the proposed millage rate of 0.1985 for the Library MSTU Fiscal Year 2024/2025 at today’s Board Meeting.
The proposed Library MSTU millage rate of 0.1985 is the same as the millage rate in the current fiscal year. This proposed millage rate provides additional savings to the taxpayers compared to the “majority vote maximum millage rate allowed” as calculated under the legislative formula.
On June 1, 2005, the Board conducted a duly noticed Public Hearing and subsequently adopted an ordinance titled” An Ordinance Creating the Polk County Municipal Service Taxing Unit for Library Facilities and Programs; Describing the Boundaries of the Unit; Authorizing the Annual Levy pf Ad Valorem Taxes Within Such Unit to Provide Library Facilities and Programs; and Providing an Effective Date.”
A copy of the Florida Department of Revenue’s Certification of Taxable Value form will be sent to the Polk County Property Appraiser so that the Property Appraiser’s office may mail the Notice of Proposed Property Taxes. Section II of the completed reflects the proposed millage rate of 0.1985 for the Library MSTU.
The millage rate adopted at the Final Budget Public Hearing cannot exceed the proposed millage rate. However, the adopted millage rate may be less than the proposed millage rate.
RECOMMENDATION
Set the operating millage rate for Polk County Municipal Service Taxing Unit (MSTU) for the Library MSTU for Fiscal Year 2024/2025 at 0.1985 mills, which is more than the rolled-back rate of 0.1855 mills but less than the majority vote maximum millage rate of 0.2936 that can be approved by a simple majority vote. Also, set the date, time, and place for the Tentative Budget Public Hearing as September 9, 2024, 6:00 p.m., at Polk County Boardroom, County Administration Building, 330 West Church Street, Bartow, Florida.
FISCAL IMPACT
The ad valorem revenue included in the Fiscal Year 2024/2025 Proposed Tentative Budget will be based on the millage rate set by the Board of County Commissioners.
CONTACT INFORMATION
Christia Johnson
Budget & Management Services Division Director
(863) 534-5985