- November 20, 2024
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The Winter Garden City Commission proposed to stick with the current millage rate of 4.5 for Fiscal Year 2024-25 and scheduled two public budget hearings for September at its Thursday, July 11, meeting.
The Truth in Millage Act timetable requires the city to advise the Orange County Property Appraiser of the proposed millage rate by noon Sunday, July 28.
According to city documents and a short presentation by City Manager Jon C. Williams, the current gross taxable value for the coming year is projected at $6,087,968,520. This represents a 9.3% increase in taxable value over Fiscal Year 2023-24, an increase of $517,756,142.
The current year rolled-back rate is 4.1564, and the proposed millage rate of 4.5 is greater than the rolled-back rate of 4.1564 mills by 8.27%.
One mill will generate $5,844,450 in revenue (budgeting at 96% of the estimated amount levied).
The 2023-24 fiscal year budgeted Ad Valorem Tax Revenue is $24,063,317, which Williams believes the city will achieve. In Fiscal Year 2022-23, the city budgeted $21,404,971 and recorded $21,428,816.
If the current millage rate of 4.5 is adopted, the projected AVTR is calculated at $26,300,024 (budgeting at 96% of the estimated amount levied).
The rolled-back rate of 4.1564 per $1,000 would produce $24,292,033, or $2,007,991 less revenue than the 4.5 rate.
Proposing a millage rate up to 4.5424 would require a majority vote of the commission, and proposing a rate between 4.5425 and 4.9966 would require a two-thirds vote of the commission. Any rate proposed in excess of 4.9966 would require a unanimous vote of the commission or referendum of the voters.
Williams said the TRIM Act states the millage rate established by the commission through a vote and provided to the property appraiser cannot be increased after July 28, unless each property owner is notified by mail. However, the millage rate may be lowered at either the first or second public budget hearing without any required notification. The millage rate proposed by the commission will be sent to all property owners within Winter Garden directly after July 28.
The commission will host two public budget hearings at City Hall: one at 6:30 p.m. Thursday, Sept. 12, and one at 6:30 p.m. Thursday, Sept. 26.