Title
RESOLUTION NO. 26R-09-159: A RESOLUTION ADOPTING THE PROPERTY TAX LEVY FOR THE CITY OF LAUDERHILL AT THE PROPOSED OPERATING MILLAGE RATE OF 7.3998 PER ONE THOUSAND DOLLAR ($1,000) ASSESSMENT FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2026 AND ENDING SEPTEMBER 30, 2027; ADOPTING THE TENTATIVE VOTED DEBT SERVICE MILLAGE AT A RATE OF 0.9956 PER ONE THOUSAND DOLLAR ($1,000) ASSESSMENT FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2026 AND ENDING SEPTEMBER 30, 2027; PROVIDING FOR AN EFFECTIVE DATE.
Body
Request Action:
Pass a Resolution adopting the City of Lauderhill property tax levy for Fiscal Year 2027 at the operating millage rate of 7.3998 per $1,000 of taxable value and adopting the voted debt service millage rate of 0.9956 per $1,000 of taxable value for the fiscal year beginning October 1, 2026 and ending September 30, 2027. The expected outcome is to establish the millage rates necessary to support the FY 2027 budget and voter-approved debt obligations.
Need:
There is a need for the City Commission to adopt the FY 2027 operating millage rate and voted debt service millage rate so the City can levy ad valorem taxes for the upcoming fiscal year in accordance with the budget process and applicable property tax requirements.
Summary Explanation/ Background:
The proposed FY 2027 operating millage rate is 7.3998 mills, which is a reduction of 0.1000 mills from the prior year operating millage rate of 7.4998 mills. The proposed voted debt service millage rate is 0.9956 mills, which is a reduction of 0.1256 mills from the prior year voted debt service millage rate of 1.1212 mills. The combined millage rate would be reduced from 8.6210 mills to 8.3554 mills, a total reduction of 0.2656 mills. Adoption of the resolution will set the property tax levy for the fiscal year commencing October 1, 2026 and ending September 30, 2027.
Attachments:
Resolution
Cost Summary/ Fiscal Impact:
There is no direct expenditure associated with adoption of this resolution. The ...
Click here for full text