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VILLAGE OF TEQUESTA
Post Office Box 3273 • 357 Tequesta Drive
Tequesta,Florida 33469-0273 • (407) 575-6200
,: e Fax: (407)575-6203
CH COU0
MEMORANDUM
TO: Village Council
FROM: Thomas G. Bradford, Village Manager
DATE: July 15, 1993
SUBJECT: Adoption of Proposed Millage Rate ' -
And Computed Rolled—Back Millage Rate
In Accordance with Florida Statutes;
Agenda Item
The Village must now adopt its proposed millage rate for the
forthcoming fiscal year commencing on October 1, 1993 . Staff has
proposed a millage rate of 5 . 9140 which is below the rolled-back
millage rate of 5 . 9141 . There are a number of outstanding issues
which could cause the millage rate to rise between now and
September when the budget is finally adopted. Some of these items
are as follows :
1) Palm Beach County's adoption of the additional six cents
local option gas tax could cause Tequesta to lose up to
20% of this revenue source should the County pursue a
change in the distribution formula.
2 ) The Florida Municipal Health Trust announces its health
insurance premium rates in mid-August. Should rates exceed
the anticipated increase (8.5%) additional tax revenues will
be needed.
3) The Fire-Rescue contract with Jupiter Inlet Colony has not
yet been concluded. It is scheduled for Village Council
consideration on August 12th. If the parties do not reach
agreement, Tequesta must re-evaluate its decision to have
four men per shift. If Tequesta wishes to maintain the four
men per shift scenario without the Jupiter Inlet Colony
revenue, an additional of $151, 190.00 must be raised from \,
taxes . Alternatively, should the Village choose to take the
three men per shift route without Jupiter Inlet Colony
revenue, an additional $32,070. 00 will be needed.
Recycled Paper '
•
Village Council
RE: Proposed Millage Rate
July 15, 1993
Page 2 -
4 ) Occupational license changes could cause the Village to lose
an estimate of $7, 000 .
5) 1993 Bond Issue is increased.
When it is all said and done, it is never wise to go into the
September budget hearings with a millage rate that you may need to
increase. State law is such that after adopting your proposed
millage rate, should you have to exceed it, you must notify each
property owner by certified mail as to the reason why. Therefore,
the game plan is to have a higher millage rate than is projected
and to reduce the same at the September budget hearings .
It is recommended that the Village Council adopt a proposed millage
rate four percent (4%)" greater than that suggested by staff in the
budget documents which will provide an additional $77, 684 . 00 to
cover any cost increases between now and September. Therefore, it
is recommended that the Village Council adopt a proposed millage
rate of 6 . 1506 .
It is also recommended that the Village Council adopt the computed
rolled-back millage rate of 5 . 9141 to be provided to the property
appraiser in accordance with F. S. 200 . 065 .
TGB/mk