SUBJECT
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Set Proposed Millage Rate for the Rancho Bonito 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 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 requested that the Board of County Commissioners set the proposed millage rate of 9.1272 for the Rancho Bonito MSTU for Fiscal Year 2024/2025 at today's Board Meeting.
The proposed Rancho Bonito MSTU millage rate of 9.1272 is the same as 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 December 17, 2013, the Board conducted a duly noticed Public Hearing and subsequently adopted an Ordinance titled "An Ordinance Creating the Polk County Municipal Service Taxing Unit (MSTU) to fund Polk County and Polk County Sheriff's Office Law Enforcement Services and Improvements Needed in the Rancho Bonito Area; Describing the Boundaries of the Unit; Authorizing the Annual Levy of Ad Valorem Taxes Within Such Unit to Provide Polk County and Polk County Sheriff's Office Services and Improvements Needed in the Rancho Bonito Area; Providing Severability; and Providing and 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 form reflects the proposed millage rate of 9.1272 for the Rancho Bonito MSTU.
The millage rate adopted at the Final Budget...
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