AGENDA MEMORANDUM

 

 

MEETING DATE:   July 25, 2011

 

FROM:                       Jerry Boop, Finance Director, CPA, CGFO

 

SUBJECT:                  Resolution authorizing the City Manager to execute and submit the Certification of Taxable Value for Fiscal Year 2011-12 to the

                                    Lake County Property Appraiser

 

 

Staff Recommendation:

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.

 

Analysis:

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.

 

 

Options:

  1. By a majority vote, the Commission may authorize the City Manager to execute and submit the Certification of Taxable Value, reflecting the proposed operating millage rate of 4.3179 mills per $1,000, the Tax Increment Adjustment Worksheet and the Maximum Millage Levy Calculation Preliminary Disclosure for Fiscal Year 2011-12 to the Lake County Property Appraiser; ($1,152,928,547 X .0043179 = $4,978,230 X 95% - $4,729,319);or

 

  1. Any such alternative action as the Commission may deem appropriate.

 

 

 

Fiscal Impact: 

 

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. 

 

 

 

 

Submission Date and Time:    7/22/11 5:24 PM____

 

 

Department: __Finance_____________

Prepared by:  __Jerry Boop_______                     

Attachments:  Yes_X___   No ______

Advertised:   ____Not Required ______                     

Dates:   __________________________                     

Newspapers:

_________________________________                                                    

_________________________________           

Revised 6/10/04

 

Reviewed by: Dept. Head __JB____

 

Finance  Dept. _______JB_________                                     

                              

Deputy C.M. ___________________                                                                         

Submitted by:

City Manager ___________________

 

Account No. _________________

 

Project No. ___________________

 

WF No. ______________________

 

Budget  ______________________

 

Available _____________________

 

 

 

RESOLUTION 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.

 

 

 

                                                                            __________________________

                                                                             Mayor

 

ATTEST:

 

 

__________________________________

City Clerk