Fort Walton Beach Resolution — 2024-10 Adopting Tentative Millage Rate FY 2024-25 — reading text

RESOLUTION 2024- 10 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, ADOPTING THE TENTATIVE MILLAGE RATE FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2024 AND ENDING SEPTEMBER 30, 2025; AND PROVIDING AN EFFECTIVE DATE WHEREAS, Chapter 200 of the Florida Statutes provides the procedure for adoption of ad valorem tax and millage rates; and WHEREAS, Section 200. 065, Florida Statues provides for the adoption of a proposed millage rate, together with the establishment of a rolled -back millage rate computed pursuant to Section 200. 065( 1), Florida Statutes; and WHEREAS, on the City' s property value for 2024 was certified by the Okaloosa County Property Appraiser on June 26, 2024; and WHEREAS, the City Manager and Staff have prepared a tentative budget and computed a proposed millage rate necessary to fund the tentative budget other than a portion of the budget to be funded from sources other than ad valorem taxes; and WHEREAS, Section 200. 065, Florida Statutes requires the City Council within thirty- five ( 35) days of service of the certified taxable value to advise the Okaloosa County Property Appraiser of the City' s proposed millage rate; and WHEREAS, in accordance with the provision of the City' s Charter and Florida law, the City Council sets the tentative millage rate and budget for the fiscal year of October 1, 2024 through September 30, 2025 as set forth herein. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, AS FOLLOWS: Section 1. Purpose The City of Fort Walton Beach held a public budget workshop on August 12, 2024 to discuss the proposed FY 2024- 25 budget. The City held a public budget hearing on September 10, 2024, as required by Section 200.065 of the Florida Statutes. The Okaloosa County Property Appraiser has certified that the gross taxable value for operating purposes not exempt from taxation within the City of Fort Walton Beach is 2, 197, 593, 063. Section 2. Millage Rate The City hereby tentatively sets the FY 2024- 25 operating millage rate at 4. 6116 mills, which is 6. 55% more than the rolled -back rate of 4. 3282 mills. There is no voted debt service millage. Section 3. Effective Date This resolution shall take effect immediately upon approval by City Council and signature of the Mayor.  RESOLUTION 2024- 10 Adopted: Se- em r ) f3, ao-, L%- I ichard A. Rynearson, M' yor Attest: Approved as to legal form and sufficiency