Green Cove Springs, Florida
Agenda Item #2
Item Title
Review the Rolled-Back Rate Calculation and the 2011-12 Millages
Issue/Rationale
TRIM requires two public hearings for open discussion of millage rates and budgets of taxing authorities. The first substantive issue discussed by the governing body of taxing authority is the percentage increase or decrease in millage over the rolled-back rate necessary to fund the budget, if any, and the specific purposes for which ad valorem tax revenues, are being increased or decreased. The general public is allowed to speak and ask questions prior to adoption of any measures by the governing body. The millage rate is adopted first and budget is adopted second. The total mill levy for fiscal year 2011-12 is 7.977 mills which is 4.74% less than the total roll back rate. The required local mill levy is 5.479 mills which is 4.13% less than the rolled back rate.
Recommended Action
N/A
Financial Impact
The District will generate a total of $70,454,625 from all mill levies.
Submitted By
Dr. George F. Copeland, Assistant Superintendent for Business Affairs