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2022-07-19 EX 09Exhibit 9 7/19/2022 City Council Agenda: July 19, 2022 Agenda Item Proposed motion Approval of maximum millage rate for advertisement for 2022 Tax notices, millage rate of 7.6018 for budget year 2022-2023. Background: The proposed rate of 7.6018 is the current rate. Total Taxable 96%* FY 2021/2022 Value Budgeted 2022/2023 Taxable $393,615,286 $377,870,675 $333,867,009 Value: 2022/2023 Same Property Values: $387,174,872 $371,687,877 (Values w/o New Construction Increase in same $35,812,097 $34,379,613 properties 10.19% 10.19% Millage Rate, 7.6018 generated Ad Valorem $2,992,185 $29872,498 $2,5379990 Revenue 2022/2021 Rollback Millage Rate, 6.8987 $2,671,003 $2,564,163 (w/o New Construction) 2022/2023 Rollback Millage Rate, w/CPI $2,834,740 $2,721,350 7.3216** w/o New Construction 2022/2023 Using the Current Rate $299439226 $2,825,497 of 7.6018 (w/o new construction Ad Valorem Revenue w/Rollback Rate w/CPI $2, 881, 894 $2, 766, 618 &New Construction * * * Taxable Values used within the budget. **CPI (Change in Per Capita Income) provided by State Statute, 6.13% ***New Construction value $6,440,414 W —0 V-() t HQ �6lS d 1 City of Okeechobee Provided by: Finance Department Date Provided: 7/18/2022 Homeowner effect illustration: $ 50,000 $ 100,000 $ 300,000 $25,000 HX $50,000 HX $50,000 HX Taxable Value $25,000 $50,000 $250,000 Current 7.6018 $ 190 $ 380 $ 1,900 Decrese by .25 7.3518 $ 184 $ 368 $ 1,838 Rollback Rate w/CPI 7.3216 $ 183 $ 366 $ 1,830 Rollback Rate 6.8987 $ 172 $ 345 $ 1,725 Commercial effect illustration Tangible Personal Okeechobee FLORIDA • founded 1915 I-roperty Building Building $ 50,000 $ 100,000 $ 300,000 $ 500,000 $25,000 HX Taxable Value $25,000 $100,000 $300,000 $ 500,000 Current 7.6018 $ 190 $ 760 $ 2,281 $ 3,801 Decrese by .25 7.3518 $ 184 $ 735 $ 2,206 $ 3,676 Rollback Rate w/CPI 7.3216 $ 183 $ 732 $ 2,196 $ 3,661 Rollback Rate 6.8987 $ 172 $ 690 $ 2,070 $ 3,449