AGENDA REPORT
DATE: September 22, 2025
TO: City Commission
FROM: Bill McDaniel, City Manager
SUBJECT: Public Hearing on Final Millage Rate for the Year 2025.
EXECUTIVE SUMMARY:
On July 28, 2025, the City notified the Hillsborough County Property Appraiser's Office of the proposed millage rate and the date, time, and meeting place of the proposed millage and tentative budget hearings. Based on budget discussions at the Special City Commission Meeting held on August 25, the budget for fiscal year 2025-26 is balanced using the same millage rate of 5.7157 in effect for the current year. The public hearing to adopt the tentative millage rate was held September 8, 2025.
As provided by State law, the maximum millage levy is the rolled-back rate adjusted by the effects of homestead exemption, portability of Save Our Homes, and growth in per capita Florida personal income. By simple majority the City Commission can approve a tentative millage rate up to the maximum millage rate of 5.8769. The final millage rate of 5.7157, which exceeds the rolled-back rate by 4.06%, requires a simple majority vote of the City Commission.
RECOMMENDATION:
That the City Commission adopt the final millage rate of 5.7157 for year 2025 and announce the rolled-back millage rate of 5.4928.
FISCAL IMPACT:
The total proposed budget for Fiscal Year 2025-26 is $147,883,443, of which $64,359,454 is in the General Fund.
Prepared by: Diane Reichard, Chief Financial Officer