CITY COUNCIL AGENDA ITEM
Memo Date: July 16, 2024
Agenda Date: July 23, 2024
Prepared By: Lora Howell, Deputy Finance Director
Through: Rebecca Bowman, MBA, CGFO, CGFM, Finance Director
Stockton Whitten, MBA, City Manager
Requested Action:
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Approve Resolution No. 2024-063, Establishing the Rolled-Back Rate, approve a Proposed Millage Rate for the Purposes of Notification to the Taxpayers by the Brevard County Property Appraiser and set the date, time, and place for the first Public Hearing to consider the FY2025 Budget. It is also recommended for the City Manager to be instructed to complete the Florida Department of Revenue's Certifications of Taxable Value, Forms DR-420.......End
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BACKGROUND:
Florida Statues 200.065 TRIM (Truth-In Millage) Compliance Regulations provides that within 35 days of certification of property values, municipalities must notify the property appraiser of the prior year millage rate, the current year proposed millage rate, the current year rolled-back rate and the date, time and place of the tentative budget hearing, which is no later than August 4, 2024. The Property Appraiser will be advised of the millage rates set at this public meeting through completion of the Florida Department of Revenue's Certification of Taxable Value, Forms DR-420. In addition, the Property Appraiser will also certify the Tax Increment Adjustment Worksheet (DR-420TIF Forms) for each Community Redevelopment Agency (CRA) in the City. The proposed millage rate approved at this meeting will be delivered to the Property Appraiser for inclusion in the TRIM "Notice of Proposed Property Taxes" mailed out to property owners by August 24. This notice provides the taxpayers with an official notice regarding the public hearing on the tentative FY 2024-2025 budget and the tentative millage rate for the City of Cocoa. The notice also provides taxpayers with the current assessed value of their property and the potential taxes to be paid by each ...
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