Title
ORDINANCE NO. 24O-09-142: AN ORDINANCE SETTING AND ADOPTING THE 2024-2025 PROPERTY TAX LEVY FOR THE CITY OF LAUDERHILL AT THE OPERATING MILLAGE RATE OF 7.9998 PER ONE THOUSAND DOLLARS ($1,000); SETTING AND ADOPTING THE 2024-2025 VOTED DEBT SERVICE MILLAGE AT A RATE OF 1.1712 PER ONE THOUSAND DOLLARS ($1,000); PROVIDING FOR AN EFFECTIVE DATE.
Body
Request Action:
Pass an Ordinance to approve the final property tax levy and millage rates for the City of Lauderhill for Fiscal Year 2025.
Need:
To approve the final property tax levy and millage rates for FY 2025.
Summary Explanation/ Background:
An Ordinance approving the adoption of the final tax levy and operating millage rate for 2024-2025. The tentative resolution was approved on September 12, 2024. The operating rate this year of 7.9998 is a decrease to last year’s operating millage rate of 8.1999. The voted debt service millage is at a rate of 1.1712 per $1,000.00. The 2024-2025 aggregate operating millage rate of 8.0359 per One Thousand Dollar ($1,000) assessment is a decrease of the aggregate rolled back rate of 8.3292 by 3.52%. The City of Lauderhill General Fund operating millage rate of 7.9998 is a decrease of the rolled-back rate of 8.2920 by 3.52%. This Ordinance approves the final tax levy, operating millage and voted debt millage for the City for Fiscal Year 2025.
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