HomeMy WebLinkAboutcover memoCITY OF MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
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TO :
FROM :
The HonorabI Mayor and Members
he City ommission
o Ariola
pit Manager
DATE:
SUBJECT :
REFERENCES :
ENCLOSURES:
AUG 31 2004
FILE :
Millage Ordinance
for Fiscal Year 2004-2005
RECOMMENDATION:
It is respectfully recommended that the City Commission adopt the attached
Ordinance establishing millage rates for the fiscal year ending September 30,
2005 ("FY05"), which reflects changes proposed by the Mayor and approved by
the Commission.
General Operating Budget
Debt Service
8.7625
1.0800
Total Millage 9.8425
BACKGROUND:
The proposed FY05 millage rates for the City of Miami (General Operating and
Debt Service) are outlined below:
General Operating
The proposed FY05 millage rate for the City of Miami is 8.7625, which is the same
as the current fiscal year rate. This proposed rate is higher than the rolled back
rate 7.5624 by 15.87%. Total of all non -voted Ad Valorem Taxes, proposed to be
levied, are more than the current year Aggregate Rolled Back Taxes by
$26,964,420.
Debt Service
The proposed FY05 debt service millage rate for the City of Miami is 1.0800,
which is the same as the current fiscal year rate.
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