HomeMy WebLinkAboutSummary Form SRSecond Reading Ordinance
BH.2
AGENDA ITEM SUMMARY FORM
FILE ID:
Date: 9/15/2008
05610040
Requesting Department: OSPBP
Commission Meeting Date: 9/25/2008 District Impacted: ALL
Type: D Resolution ED Ordinance ❑ Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Establishing FY 2008-2009 Millage Rate
Purpose of Item:
To establish millage rates for the fiscal year ending September 30, 2009 ("FY09") at:
General Operating: 7.6740
Debt Service: 0.5803
Total Millage: 8.2543
Background Information:
The proposed FY09 millage rates for the City of Miami (General Operating and Debt Service) are
outlined below:
General Operating - The proposed FY09 millage rate for the City of Miami is 7.6740, which is higher
than the current fical year rate by 0.3741 or 5.13%. This proposed rate is higher that the rolled back
rate of 7.3933 by 3.80%. Total of all non -voted Ad Valorem Taxes, proposed to be levied, are more
than the current year Aggregate Rolled Back Taxes by S11,139,505.
Debt Service - The proposed FY09 debt service millage rate for the City of Miami is 0.5803, which is
lower than the current fiscal year by 0.0027 mills or 0.47%.
Budget Impact Analysis
YES Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
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