HomeMy WebLinkAboutDocumentation_Regular_Tab 11JK_7/25/1996 •
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MEMORANDUM:
TO: Village Council
FROM: Thomas G. Bradford, Village Manager f7r�7
DATE: July 19, 1996
SUBJECT: Proposed Millage Rate, Computed Rolled-Back Millage Rate,
Date, Time and Place of First & Final Budget Hearings all
Relative to Tequesta's Tentative Budgets; Agenda Item
Based upon the Budget presented to the Village Council at your
Workshop Meetings in July, and in accordance. with Florida Statutes,
the Village Council needs to adopt the following:
1) Proposed Millage Rate: 6 . 3425
2) Computed Rolled-Back Millage Rate: 6 .2225
3) First Public Hearing: September 12, 1996, 7 : 00 P.M. at
Village Hall
4) Final Public Hearing; September 24, 1996, 7 : 00 P.M. at Village
Hall
The property tax rate is a 0% millage rate increase. This proposed
millage rate provides no cushion in the event that costs increase
between now and October 1, 1996, in an amount greater than that
anticipated in the proposed Budget. The Village Council may wish
to consider adding a 2% cushion to avoid a first class notice to
property owners in the event the millage rate must be increased due
to cost increases . If so, the tentative millage rate would be
6 .4694, which would generate an additional $43, 368 .
It is recommended that the Village Council approve the recommended
actions stated above.
TGB/krb