17-18 Budget CalendarCity Council Agenda: July 18, 2017
Agenda Item
REVISED
Exhibit 11
July 18, 2017
Motion 1:
Approval of maximum millage rate for advertisement for 2017 Tax notices, 8.9932 for
budget year 2017 -2018.
Motion 2:
Approval of 2017 -2018 Budget Preparation and Millage Calendar setting workshop(s) to
be held August 15th at 5:00pm, August 22nd at 5:00pm (if needed), First Public Hearing
September 5th at 6:00 pm, and Final Public Hearing September 19, 2017 at 6:00 pm, all to
be held in Council Chambers at 55 SE 3rd Avenue, Okeechobee, Florida.
Background: This proposed rate of 8.9932 is the current rate plus 1 mil.
Taxable Values used within the budget.
* *CPI (Change in Per Capita Income) provided by State Statute
** *New Construction value $4,309,265
Total Taxable
Value
97 %*
FY
2016/2017
Budgeted
2017/2018 Taxable
Value:
$270,516,813
$262,401,308
$242,051,394
2017/2018 Same
Property Values:
(Values w/o New
Construction)
$266,207,548
$258,221,321
Increase in same
properties
$13,597,678
5.3%
$1 3,189,747
5.3%
Millage Rate, 7.9932
generated Ad Valorem
Revenue
$2,162,294
$2,097,426
$1,914,819
2017/2018
Rollback/Rollforward
Millage Rate, 7.5849
(w /o New Construction)
$2,019,157
$1,958,582
2017/2018
Rollback/Rollforward
Millage Rate, w /CPI
7.8207 **
(w /o New Construction)
$2,081,929
2.019,471
2017/2018
Current Millage Rate
+ 1 mill 8.9932
(w /o New
Construction)
$2,394,057
$2,322,235
Ad Valorem Revenue
with
New Construction***
$2,432,811
$2,359,827
Taxable Values used within the budget.
* *CPI (Change in Per Capita Income) provided by State Statute
** *New Construction value $4,309,265
PROPOSED BUDGET CALENDAR
FISCAL YEAR 2017/2018
07/03/2017 Certification from Property Appraiser
REVISED
Exhibit 12
July 18, 2017
07/18/2017 Set date, time and place for public hearings and set maximum
millage rate for tentative budget (regular council meeting)
08/15/2017 Budget Workshop, 5:00 pm (regular council meeting)
08/22/2017 Second Budget Workshop, 6:00 pm (if needed)
09/05/2017 First Public Hearing at 6:00 pm (Regular council Mtg.)
09/19/2017 Final Public Hearing at 6:00 pm (Regular Council Mtg.)
All meetings to be held:
Council Chambers at City Hall
55 SE 3rd Avenue
Okeechobee, FL 34974