Fort Walton Beach Council agenda — 06-24-03 regular Council agenda — reading text

insurance coverages for 91 Workers' Compensation, General Liability, Automobile Liability, Professional for professional 92 Liability in the amounts meeting the typical City requirements 93 services contracts. 94 8. Independent Contractor. 95 In the performance of legal services, Attorney is an independent servant 96 contractor. The Attorney shall not be considered an employee, agent or 4  SUPPLEMENTAL AGENDA CITY COUNCIL, CITY OF FORT WALTON BEACH JUNE 24, 2003 22. Consideration of adopting the tentative millage rate for ad valorem taxes for FY 2003- 04 and confmn the date and times of the public hearings for the adoption of the FY 2003- 04 budget. Finance Director) ( see backup). ( CM 312003). ADJOURNMENT matter considered at this Any person who decides to appeal any decision made with respect toany need to ensure that a verbatim meeting will need a record of the proceedings, and for such purpose may record of the is made, which record includes the testimony and evidence upon which the proceedings appeal is to be based, (FS286,OlO5). The City of Fort Walton Beach adheres to the Americans with Disabilities Act and will make reasonable Clerk, Helen Spencer at 850- modifications for access to this meeting upon request. Please call the City 833- 9509 to make a request, For Hearing Impaired dial the City Hall TDD 850- # 833- 9925 or, 1- 800- 955- 8771 ( TDD) or, 1- 800- 955- 8770 ( Voice), Requests must be received at least 48 hours in advance of the meeting in order to allow the City time to provide requested service,  em;oj,g.0ld Walton 9JeacIi MEMORANDUM Date: June 20, 2003 To: Reid Silverboard, City Manager From: Joyce A.Shanahan, Finance Director Subject: Tentative Property Tax Millage Rate for FY 2003- 04 ( CM 3- 2003) Table 1 BACKGROUND: Determination of Millaae Dav 1 is on or bv July 1 - The Property Appraiser certifies the taxable value of real property within the Chapter 200 of the Florida Statute 1. Detennination of Millage" sets a jurisdiction of the taxing authori , 2, statutory timetable for the calculation and notification to the public of the process to set ad 3, 55th dav - ( around August 24) - No later than 55 days after certification of value, the Property valorem taxmillage rates and Appraiser shall mail out to the City and the property owners a Notice of Proposed Property Taxes adopt a budget. The statute TRIM Notice). identifies the time frames and 80th day - ( September 3 to 18) - not earlier than 65 days after certification, but within 80 days of certification of value, the City shall hold a public hearing on the tentative budget and proposed millage briefly describes the tasks to be rate, accomplished during that time 95th dav - (Sep 19 to Oct 3) - within 15 days of the tentative budget hearing, the City shall advertise its frame. ( see Table 1) intent to adopt a final millage and budget. 97/1 OOth dav - ( Sep 21 to Oct 5)- A pubHc hearing to adopt a final millage rate and budget that shall be held not less than 2 days or more than 5 days. after the day that the advertisement is first published. DISCUSSION: Within 3 davs of the second and final budaet hearina - the resolution or ordinance adopting the final millage rate shall be forwarded to the Property Appraiser and the Tax Collector. Staff has received the 2003 The Property Appraiser then notifies the City of the final adjusted tax roll. Certification of Taxable Value 9, Within 30 davs of the final hearina - no later than 30 days following the adoption of the millage and fonn DR-420) from the County budget ordinances or resolutions, each City shall certify that they have complied with the provision of The Chapter 200, F. S" to the Division of ad valorem Tax, Department of Revenue. Property Appraiser. preliminary gross taxable property value is $ 865, 601, 126, representing an increase of $34, 583, 072 ( 4. 16%) over the 2002 Final GToss Taxable Property Value of $831, 018, 054. The City rnust notify the County Property Appraiser within 35 of days this certification of taxable value, of its calculated rolled-back rate, its receiving tentative millage rate, and the date of the City' s first public hearing for the budget. Rolled Back Rate of ad The rolled- back millage rate is defined as the millage rate that would produce the same amount construction, deletions, and valorem tax revenue as was levied during the prior year, exclusive of new Staff has calculated the rolled-back rate to be 4. 8105 mills, which would generate boundary changes. revenues of $3, 923, 683 ( at a 95% collection rate.) Tentative Milla2e without the The tentative millage rate is important because once it is set it cannot be increased of additional expense of a fonnal notification process to each city taxpayer. Staff is in the process has been developed based finalizing the proposed budget for FY 2003- 04. The proposed budget upon rate of 4. 9700, and staff anticipates using fund balance ( surplus) to bridge the gap retaining millage a  mill ( 0.5000 between revenues and expenditures. In prior years, Council set the tentative millage 1/2 mills) higher than the previous years' adopted millage, in order to provide themselves with some should they decide they didn' t want to accept certain flexibility during the budget review process revenue proposals or rely upon fund balance or wanted to add additional capital projects. Setting the valorem tax tentative millage at 4. 9700 mills will produce approxirnately $ 4, 086, 935 in net ad revenues 163, 252 in additional tax revenue at a 95% collection rate. representing $ Budeet Public Heariues not As per state statute, the City must hold public hearings on the budget and the City' s meetings may be on the same date as that of the County or the School Board. This City is required to notify the for the budget and this date is Property appraiser of the date and time of the City' s first public hearing first public hearing on the budget will printed on the tax bills. Any change in the meeting time for the established its public hearings for require notice to each City property taxpayer. Accordingly, Council the budget at its May 13, 2003 meeting, for the following dates and times: Special Council Meeting Wednesday, Sept. 3, 2003 - 5: 30 p. m. Special Council Meeting Wednesday, Sept. 17, 2003 - 5: 30 p. rn. dates do not conflict with According to information currently available to the City our budget hearing the meeting dates of the School Board or Okaloosa County. CONCLUSION: Staff respectfully requests that Council set the FY 2003- 04 tentative millage rate for ad valorem taxes the budget listed above. at 4. 9700 mills and confirm the date and times ofthe public hearings for as Respectfully Subrnitted: f~ W- ce Director Concur Do Not Concur QSLQ Reid Silverboard, City Manager Attachment: 1) 2003 Certificate of Taxable Value ( DR-420) P: IFinancelBudget 03-D4\ Mil age\ 20 3tent mill staff report -fy04. doc Page 2  DR- 420 Certification of Taxable Value R. 01/ 95 SECTION I To F01~ Walton Beach 2003 Year Name of Taxing Authority) Okaloosa County 742. 619. 108 1) Current Year Taxable Value of Real Property for Operating Purposes