Title
Final Millage Rate for Fiscal Year 2021-2022 (B)
Resolution No. 210429
A resolution of the City Commission of the City of Gainesville, Florida; relating to the levy of general municipal purpose Ad Valorem taxes for the 2021-2022 fiscal year beginning October 1, 2021 and ending September 30, 2022; adopting the Final Millage Rate; directing the transmittal of certified copies; authorizing a specified adjustment to the final millage rate; and providing an immediate effective date.
Explanation
The first public hearing on the tentative millage rate for Fiscal Year 2022 was held on September 13, 2021. The final millage rate herein was the tentatively adopted at the first public hearing on that day.
The final millage rate for Fiscal Year 2022 is 5.5000 mills which is 0.2026 mills higher than the previous fiscal year of 5.2974 mills. The taxable valuation for the City of Gainesville for tax year 2021, for which the proposed Fiscal Year 2022 budget is based on, is $8,132,378,247 and represents a 6.6% increase over the tax year 2020 final valuation.
The final total operating millage rate of 5.5000 for Fiscal Year 2022 is 0.3513 mills, or 6.82%, more than the “rolled-back” rate of 5.1487.
Florida Statutes, Section 200.065, requires that at the conclusion of the first public hearing on the
proposed tax rate and budget, the City Commission proceed in the following specific manner:
1. Adopt a final ad valorem millage rate for Fiscal Year 2022 general operating purposes. This is accomplished by adopting a Resolution which includes the percentage increase or decrease over the "rolled-back" rate; the required debt service millage rate.
2. Adopt a final general operating budget for Fiscal Year 2022, which also includes budgets for General, Special Revenue, Debt Service, Capital, Proprietary and Fiduciary Funds. This is accomplished by adopting a companion Resolution (see accompanying Final General Government Financial and Operating Plan for Fiscal Year 2022).
Strategic Connection
Goal 5: “Best in Class” Neighbor Services
Fiscal Note
The Fiscal Year 2022 Final Millage Rate of 5.5000, combined with an increase in property values, is estimated to generate an additional $4.3 million in property tax revenue for the Fiscal Year 2022 General Fund budget.
Recommendation
The City Commission adopt the proposed resolution.