SUBJECT
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Set Proposed Millage Rate 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, 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 the TRIM statutory timetable, it is required that the Board of County Commissioners set the proposed millage rate of 6.6852 for Fiscal Year 2024/2025 at today's Board Meeting.
The proposed millage rate consists of four elements: (1) the General Fund operating millage rate of 5.0352, (2) the 1.2000 mills for Transportation, (3) the 0.2500 mills for Emergency Medical, and (4) the 0.2000 mills for Environmental Lands.
The proposed Countywide millage rate of 6.6852 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.
A copy of the Florida Department of Revenue's Certification of Taxable Value form will be sent 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 form reflects the proposed millage rate of 6.6852.
RECOMMENDATION
Set the operating millage rate for Fiscal Year 2024/2025 at 6.6852 mills, which is more than the rolled-back rate of 6.2763 mills but less than majority vote maximum millage rate of 11.5693. Also, set the date, time, and place for the Tentative Budget Hearing as September 9, 2024, at 6:00 p.m., at Polk County Commission Boardroom, County Administration Building, 330 West Church Street, Bartow, Florida
FISCAL IMPACT
The ad valorem revenue included in Fiscal Year 2024/2025 Proposed Tentative B...
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