The tentative millage rate of 4.6989 mills is 6.15% over the rollback rate.
Palm Coast's millage rate for this coming year will be the same as last year's rate: 4.6989 mills, or $4.6989 per $1,000 of taxable value. Although the rate is the same, it's also 6.15% over the rollback rate, or the rate which would have brought in the same dollar amount of tax money as was collected last year, of 4.2963.
The City Council approved the tentative millage rate and the city's proposed $202,931,919 fiscal year 2020 budget 4-0 in a budget meeting Sept. 11. Mayor Milissa Holland was absent. The second and final budget meeting will be held at 5:05 p.m. Sept. 18.
"We continue to see a good healthy increase our property tax values," Financial Services Director Helena Alves told council members in a presentation at the meeting.
Planned expenditures for City Council priorities for the upcoming year include $950,000 for the city's streetlight master plan, $26,000 for marketing, and $12,000 for the Shop Local campaign.
When broken down by fund, the top five funds are the General Fund, at $40,135,081; the Utility Fund, at $45,753,102; the Utility Capital Projects Fund, at $32,252,038; the Stormwater Fund, at $18,381,380; and the Fleet Fund, at $8,304,524.
The largest fund increases compared to last year are in the Transportation Impact Fee Fund, which is increasing 413% to a total of $11,570,513 for 2020; the Recreation Impact Fee Fund, which is increasing 259% to $2,644,220; the Streets Improvement Fund, which is increasing 62% to $8,496,000; the Stormwater Fund, which is increasing 43% to $18,381,380; and the Fleet Fund, which is increasing 26% to $8,304,524.
At the conclusion of the meeting, Councilman Jack Howell suggested that the city, in future years, hold its budget meetings later in the evening so that working people are more likely to be able to attend. He's previously stated that he would like such meetings to be held at a time when more members of the public would be able to participate. The Sept. 11 meeting and the upcoming Sept. 18 meeting were both scheduled for 5:05 p.m.