CITY COUNCIL AGENDA ITEM
Memo Date: July 12, 2021
Agenda Date: July 27, 2021
Prepared By: Lora Howell, Deputy Finance Director
Through: Rebecca Bowman, MBA, CGFO, CGFM, Finance Director
Requested Action:
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Approve Resolution No. 2021-60, Establishing the Rolled-Back Rate, approve a Proposed Tentative 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 FY2022 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 municipalities shall hold a public hearing to adopt a Proposed Millage Rate no later than August 4, 2021. At this hearing, the rolled-back millage rate, percentage of increase over the rolled-back rate and the millage rate to be levied must be publicly announced. The Property Appraiser will be advised of the millage rates set at this public hearing 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 millage rate approved at this hearing 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 first public hearing on the FY 2021-2022 budget and the proposed millage rate for the City of Cocoa. The notice also provides taxpayers with the current assessed value of their property and the potential revenue generated from the proposed millage on their taxes. The first public hearing on the FY2021-2022 budget will be ...
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