2023-07-18 VII. B. Millage Rate, Exhibit 6 • •
Exhibit 6
07/18/2023
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City Council Agenda: July 18, 2023
Agenda Item
Proposed motion
Approval of maximum millage rate for advertisement for 2023 Tax notices, millage rate of
6.8987 for budget year 2023-2024.
Background: The proposed rate of 6.8987 is the current rate.
• •
Total Taxable FY
Value 96%* 2022/2023
Budgeted
2023/2024 Taxable $450,072,897 $432,069,981 $377,870,675
Value:
2022/2023 Same
Property Values: $440,855,558 $423,221,336
(Values w/o New
Construction)
Increase in same $45,923,204 $44,086,276
properties 11.63% 11.63%
Millage Rate, 6.8987
generated Ad Valorem $3,104,918 $2,980,721 $2,606,816
Revenue
2023/2024 Rollback
Millage Rate, 6.1801 $2,724,531 $2,615,550
(w/o New Construction)
2023/2024
Rollback
Millage Rate, w/CPI $2,801,902 $2,689,826
6.3556**
(w/o New Construction)
2023/2024
Using the Current
Rate $3,041,330 $2,919,677
of 6.8987 (w/o new
construction
Ad Valorem Revenue
w/Rollback Rate w/CPI $2,860,483 $2,746,064
&New Construction***
Taxable Values used within the budget.
**CPI (Change in Per Capita Income) provided by State Statute, 2.84%
***New Construction value $9,217,339