Commission Meeting Agenda Item
Agenda Item Title
Resolution 2023-108 (First and Final Reading) — Adoption of the Tentative Millage Rate for Fiscal Year 2023—2024
Agenda Item ID
Staff Recommended Motions
Staff recommends approval of first and final reading of Resolution 2023-109 adopting the tentative millage rate of 3.3962 mills for Fiscal Year 2023—2024.
This resolution sets the Fiscal Year 2023-2024 tentative property tax millage rate of 3.3962 mills per $1,000 taxable valuation, which is 9.45 % greater than the current years rolled back rate of 3.1017.
Per State Statute Chapter 200.065, the Town of Lady Lake must hold a public hearing on the tentative millage rate and proposed budget. At this hearing, the Town Commission will discuss the tentative millage rate, and if changed, re-compute its tentative millage rate and publicly announce the percent, if any, by which the re-computed tentative millage is greater than or less than the rolled-back rate and approve the resolution.
As a reminder, the Town Commission could have increased the millage rate at the September 6th first public hearing, but at this second public hearing the millage rate cannot be increased. This rate, plus any other rate below this rate, requires an affirmative vote of three members of the Town Commission. This hearing was advertised via an ad in the local newspaper.
Operating, Capital Budget and Other Funds
Source of Funding
- Resolution 2023-109
- Millage Rate Analysis