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Title: Resolution Adopting Tentative Millage Rates Recommendation:
I recommend the School Board adopt the proposed total millage levy of 7.3560 mills for FY 2008. This total millage levy is made up of 4.7430 mills for Required Local Effort, .613 mills for Discretionary Operating Funds, and 2.0000 mills for Capital Improvement Projects.
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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4.7430 |
|
4.9281 |
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(3.76%) |
| Current Operating Discretionary Tax |
|
0.6130 |
|
0.6033 |
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(2.59%) |
| Capital Improvement Tax |
|
2.0000 |
|
1.9368 |
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3.26% |
| Interest and Sinking Tax |
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0.0000 |
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0.1550 |
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(100.00%) |
| Total Mills |
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7.3560 |
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7.6232 |
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(3.51%) |
Financial Impact:
The financial impact to the school district's budget is $1,252,205,527 of revenue from local taxes during FY 2008.
For Additional Information, contact:
Joseph M. Moore (moorej@palmbeach.k12.fl.us)
Michael J. Burke (burkem@palmbeach.k12.fl.us)
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