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Title: Resolution Adopting Tentative Millage Rates Recommendation:
I recommend the School Board adopt the proposed total millage levy of 7.8720 mills for FY 2007. This total millage levy is made up of 5.0890 mills for Required Local Effort, 0.6230 mills for Discretionary Operating Funds, 2.0000 mills for Capital Improvement Projects, and 0.1600 mills for Debt Service.
Description:
A breakdown of the proposed millage rate as compared to the rolled back rate is as follows:
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% |
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Proposed |
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Rolled Back |
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Increase |
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Millage |
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Rate |
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(Decrease) |
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|
|
|
|
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| Required Local Effort |
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5.0890 |
|
4.3428 |
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17.18% |
| Current Operating Discretionary Tax |
|
0.6230 |
|
0.5431 |
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14.71% |
| Capital Improvement Tax |
|
2.0000 |
|
1.6607 |
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20.43% |
| Interest and Sinking Tax |
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0.1600 |
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0.1840 |
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(13.04%) |
| Total Mills |
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7.8720 |
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6.7306 |
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16.96% |
Financial Impact:
The financial impact to the school district's budget is $1,243,576,915 of revenue from local taxes during FY 2007.
For Additional Information, contact:
Joseph M. Moore (moorej@palmbeach.k12.fl.us)
Michael J. Burke (burkem@palmbeach.k12.fl.us)
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