Staff recommends authorizing the City Manager to execute and submit the Certification of Taxable Value for Fiscal Year 2011-12 to the Lake County Property Appraiser, establishing the tentative operating millage at 4.3179 mills.
Under current TRIM guidelines, (s. 200.065 F.S.), once established, the tentative operating millage rate may be decreased at final adoption but it cannot be increased. The 2011-12 proposed budgets reflect the prior year operating millage rate of 4.3179 mills.
Adoption of the previous year’s millage rate will result in Ad Valorem Revenue of $4,729,319 a reduction of $413,795 or 8% from the previous year’s revenue of $5,143,114.
Prepared by: __Jerry Boop_______
Attachments: Yes_X___ No ______
Advertised: ____Not Required ______
Reviewed by: Dept. Head __JB____
Finance Dept. _______JB_________
Deputy C.M. ___________________
City Manager ___________________
Account No. _________________
Project No. ___________________
WF No. ______________________
A RESOLUTION OF THE CITY OF LEESBURG, FLORIDA, AUTHORIZING THE CITY MANAGER TO EXECUTE AND SUBMIT THE CERTIFICATE OF TAXABLE VALUE FOR FISCAL YEAR 2011-12 TO THE LAKE COUNTY PROPERTY APPRAISER; AND PROVIDING AN EFFECTIVE DATE.
BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF LEESBURG, FLORIDA:
THAT the City Manager is hereby authorized to execute the “Certificate of Taxable Value for Fiscal Year 2011-12” and submit the same to the Lake County Property Appraiser, whose address is P. O. Box 1027, Tavares, Florida 32778.
THAT this resolution shall become effective immediately.
PASSED AND ADOPTED by the City Commission of the City of Leesburg, Florida, at a regular meeting held the 25th day of July 2011.