15-16 Budget CalendarCity Council Agenda: July 21St, 2015
Agenda Item
Exhibit 7
July 21, 2015
Motion 1:
Approval of maximum millage rate for advertisement for 2015 Tax notices, 8.7997 for
budget year 2015 -2016.
Motion 2:
Approval of 2015 -2016 Budget Preparation and Millage Calendar setting workshop(s) to
be held August 18th, 5:OOpm, August 25th at 5:OOpm (if needed), First Public Hearing
September 15th at 6:00 pm, and Final Public Hearing September 29th, 2015 at 6:00 pm, all
to be held in Council Chambers at 55 SE 3rd Avenue, Okeechobee, FL.
Background: This proposed rate of 8.7997 is the calculated rollback/rollforward rate
with the plus 1 mil.
Taxable Values used within the budget.
* *CPI (Change in Per Capita Income) provided by State Statute
** *New Construction value $1,053,862
Total Taxable
Value
97 %*
FY
2013/2014
Budgeted
2013/2014 Taxable
Value:
$233,729,541
$226,717,654
$224,741,450
2014/2015 Same
property Values:
(Values w/o New
Construction)
$232,035,664
$225,074,594
Decrease in same
properties
($1,693,877)
(.0072
($1,643,060)
(.0072)
Millage Rate, 7.7432
generated Ad Valorem
Revenue
$1,796,698
$1,742,797
$1,740,218
2014/2015
Rollback/Rollforward
Millage Rate, 7.7997
(w /o New Construction)
$1,809,808
$1,755,514
2014/2015
Rollback/Rollforward
Millage Rate, w /CPI
8.0454 **
(w /o New Construction)
$1,866,819
$1,810,815
2014/2015
Rollback/Rollforward
Millage Rate + 1 mill
8.7997
(w /o New
Construction)
$2,041,844
$1,980,588
Ad Valorem Revenue
with
New Construction***
$2,056,749
$1,995,047
Taxable Values used within the budget.
* *CPI (Change in Per Capita Income) provided by State Statute
** *New Construction value $1,053,862
Proposed
BUDGET CALENDAR
FOR YEAR 2015/2016
07/01/2015 Certification from Property Appraiser
Exhibit 8
July 21, 2015
07/21/2015 Set date, time and place for public hearings and set maximum
millage rate for tentative budget (regular council meeting)
08/18/2015 Budget Workshop, 5:00 pm (regular council meeting)
08/25/2015 Second Budget Workshop, 5:00 pm, (if needed)
09/15/2015 First Public Hearing at 6:00 pm (regular council meeting)
09/29/2015 Final Public Hearing at 6:00 pm
All meetings to be held:
Council Chambers at City Hall
55 SE 3'd Avenue
Okeechobee, FL 34974
Clwi ! idn(etiny SpAil Cnchae
BUDGET CALENDAR
FOR YEAR 2015/2016
07/01/2015 Certification from Property Appraiser
07/21/2015 Set date, time and place for public hearings and set maximum
millage rate for tentative budget (regular council meeting)
08/18/2015 Budget Workshop, 5:00 pm (regular council meeting)
08/25/2015 Second Budget Workshop, 5:00 pm, (if needed)
09/14/2015 First Public Hearing at 6:00 pm
09/28/2015 Final Public Hearing at 6:00 pm
All meetings to be held:
Council Chambers at City Hall
55 SE 3`d Avenue
Okeechobee, FL 34974