HomeMy WebLinkAbout1992-32 Sets Millage Rate at 4.651
1
RESOLUTION NO. 32-92
A RESOLUTION OF THE VILLAGE COUNCIL OF THE VILLAGE OF NORTH PALM
BEACH, FLORIDA, LEVYING A TAX ON REAL AND PERSONAL PROPERTY LOCATED
WITHIN THE CORPORATE LIMITS OF THE VILLAGE OF NORTH PALM BEACH ON
JANUARY 1, 1992, FIXING THE TOTAL VALUATION THEREON AND THE TAX
MILLAGE RATE THEREON FOR SAID TAX YEAR; AND REPEALING ALL
RESOLUTIONS IN CONFLICT WITH THIS RESOLUTION.
NOW, THEREFORE, BE IT RESOLVED BY THE VILLAGE COUNCIL OF
NORTH PALM BEACH, FLORIDA:
Section 1: That for the tax year ending December 31,
1992, the valuation of all real and personal property within the
Village of North Palm Beach, excluding property owned by the
Village of North Palm Beach, Palm Beach County, State of Florida,
and those properties exempted by State, County or Village laws and
ordinances, is hereby determined to be, and is, fixed as follows:
Current Year Taxable Value - Real Property: t677,090,383
Current Year Taxable Value - Personal Property: $ 29,584,585
Current Year Gross Taxable Property: $706,674,968
Section 2: For the tax year ending December 31, 1992, a
tax of 4.65 mills on each $1,000.00 shall be, and is hereby,
levied, and shall be collected on all real and personal property
within the Village of North Palm Beach, excluding property owned by
the Village of North Palm Beach and those properties exempted by
State, County or Village laws and ordinances or the Constitution of
Florida, for the purpose of raising funds for the improvement and
government of the Village, and for the payment of its obligations
and expenses and for the purpose of carrying out the purposes and
duties granted and imposed by its Charter; which is a tax of 4.65
mills that shall be, and is hereby, levied, and shall be collected
on all real and personal property as set forth in Section 1 above,
less homestead, widows, disability and other lawful exemptions for
the purpose of raising funds for the payment of the Village of
North Palm Beach General Fund Appropriations, which include the
debt retirement.
Section 3: A Statement of Calculations for the tax
levy of 4.65 mills for the fiscal year ending September 30, 1993,
is set forth in Exhibit "A", which is attached hereto and by
reference made a part hereof.
Section 4: The levied millage of 4.65 mills exceeds the
rolled -back rate of 4.26 mills by nine percent (9.0%), which equals
a twelve and one tenth percent (12.1%) increase in property taxes
adopted by the Village of North Palm Beach hereunder.
1
1
Section 5: All ordinances or resolutions or parts of
ordinances or resolutions in conflict with the provisions of this
Resolution are hereby repealed.
Section 6: This Resolution shall take effect
immediately upon passage.
PASSED AND ADOPTED THIS 24TH DAY OF SEPTEMBER
1992.
(Village Seal)
ATTEST:
llage Clerk
/J`�at-127712,
MAYOR
VILLAGE OF NORTH PALM BEACH, FLORIDA
BUDGET YEAR 1993
TAXABLE VALUE & AD VALOREM TAX REVENUE
GROSS ASSESSED VALUE:
BUDGETARY TAXABLE VALUE (95%):
PROPOSED OPERATING MILLAGE
ESTIMATED AD VALOREM TAX REVENUE:
1991-92
687,912,127
653,516,521
4.26
$2,783,980
1992-93
(FINAL)
706,674,968
671,341,220
4.65
$3,121,737
EXHIBIT "A"
INCREASE (+)
OR
DECREASE (—)
OVER 1991 — 92
2.73%
2.73%
9.15%
12.130/o
1991 - 92 MILLAGE RATE = 4.260
ROLL BACK MILLAGE RATE FOR 1992 - 93 - 4.263
MILLAGE FOR 1992 - 93 = 4.650
INCREASE OVER 1991 - 92 MILEAGE RATE = 9.1 %
INCREASE OVER ROLL BACK = 9.0% (PER TAXABLE VALUE CERTIFICATION)
1992-93 PROPERTY TAX REVENUES INCREASED BY - 12.13%
VILLAGE OF NORTH PALM BEACH, FLORIDA
BUDGET YEAR 1993
TAXABLE VALUE & AD VALOREM TAX REVENUE
GROSS ASSESSED VALUE:
BUDGETARY TAXABLE VALUE (95%):
PROPOSED OPERATING MILLAGE:
ESTIMATED AD VALOREM TAX REVENUE:
1991-92
687,912,127
653,516,521
4.26
$2,783,980
1992-93
(FINAL)
706,674,968
671,341,220
4.65
$3,121,737
EXHIBIT "A"
INCREASE (+)
OR
DECREASE (-)
OVER 1991 - 92
2.73%
2.73%
9.15%
12.13%
1991 - 92 MILLAGE RATE - 4.260
ROLL BACK MILLAGE RATE FOR 1992 - 93 - 4.263
MILLAGE FOR 1992 - 93 = 4.650
INCREASE OVER 1991 - 92 MILLAGE RATE . 9.1%
INCREASE OVER ROLL BACK - 9.0% (PER TAXABLE VALUE CERTIFICATION)
1992-93 PROPERTY TAX REVENUES INCREASED BY = 12.13%