Fort Walton Beach Resolution — 2023-16 Final Millage Rate FY 2023-24 — reading text

1',: IESOLUTIION 2023 - 116 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA, ADOPTING THE MILLAGE RATE FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2023 AND ENDING SEPTEMBER 30, 2024; AND PROVIDING AN EFFECTIVE DATE WHEREAS, Chapter 200 of the Florida Statutes provides the procedure for adoption of ad valorem taxes and millage rates; and WHEREAS, the City of Fort Walton Beach held a Budget Policy Meeting on June 20, 2023 and a Budget Workshop on August 7, 2023 to discuss the proposed FY 2023- 24 budget; and WHEREAS, the City held a public budget hearing on September 12, 2023, as required by Section 200. 065 of the Florida Statutes; and WHEREAS, 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, 074,468, 134, an increase of $ 187, 351, 585, or 9. 93%, from the 2022 final gross taxable property value of$ 1, 887, 116, 549; and WHEREAS, on September 12, 2023 the City Council tentatively adopted the operating millage rate of 4. 9999 mills with no debt service millage; and WHEREAS, Section 200. 065, Florida Statutes, requires that at the conclusion of the second public hearing on September 26, 2023 to discuss the City' s proposed millage rate and budget, the City Council adopt the final ad valorem millage rate for operating purposes and set any debt service millage rate by adoption of a resolution that includes the percentage increase or decrease over the " rolled- back" rate. NOW, THEREFORE, BE IT RESOLVED Ifl THE CITY COUNCIL OF THE CITY OF FORT WALTON BEACH, FLORIDA: Section 1. Final Millage Rate The City Council hereby sets the final operating millage rate for the City of Fort Walton Beach for FY 2023- 24 at 4. 6116 mills, which is 0. 0% more than the rolled-back rate of 4. 6116 mills. There is no voted debt service millage. Section 2. Effective Date This resolution shall become effective on and after October 1, 2023. Adopted: 71-4-ti a'g- Spp cm 10f r aG,. oa-3 Richard A. Rynearson, ayor Attest: roved or form, legal sufficiency o* //; : .• eLiii Kim . arms, City Clerk 1'" a. rl Reno Kopp, Interim CityAttorney t 12 PP Pi.ORIDA e  FINAL MIILILAG E Script for Public Hearing on Millage Rate Mayor: Read Resolution Title Mayor: Ask City Manager to Present Mayor: Ask for Council Questions Mayor: State the following: The millage rate for the City of Fort Walton Beach for FY 2023- 24 is 4. 9999 mills, which is 8. 42% above the rolled-back rate of 4. 6116 mills. The rolled-back rate is the millage rate that will provide the same ad valorem tax revenue as was levied during the prior year. The reason for setting the millage rate at 4.9999 mills is to provide sufficient revenues to balance the General Fund budget. Mayor: Open the Public Hearing and ask for comments on the millage rate. Mayor: Close the Public Hearing. Mayor: Ask for a Motion and Second for Resolution 2023- 16 to set the millage rate for the City of Fort Walton Beach at 4. 9999 mills for the fiscal year beginning October 1, 2023 and ending September 30, 2024. Use specific language above for motion.) Mayor: Ask for Council Discussion. Mayor: Ask for a Vote. Mayor: Upon adoption of the Resolution. the Mayor shall announce: The millage rate for the City of Fort Walton Beach is 4. 6116 mills for the fiscal year beginning October 1, 2023 and ending September 30, 2024, which is 0% above the rolled- back rate of 4. 6116 mills.