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Date of Issue: July 21, 2005

Holmes Beach prepares its 2005-06 budget

Holmes Beach commissioners last week discussed setting the maximum millage rate at 2.0 mills. State law requires a tentative tax rate be established by all governments by Aug. 3.

A mill is $1 for every $1,000 of assessed value of property less any exemptions. This rate can be lowered through the adoption of the budget at the second hearing in September, but it cannot be raised by elected officials.

The overall proposed budget for the City of Holmes Beach will be scheduled for review at the first of two public hearings.

The proposed budget amount is $10,065,592, which includes reserves and carryover amounts from the 2004-05 budget. The actual operating expenses are proposed to be $7,159,666, up from last year's $5,258,301.

Residents will be allowed to comment on the proposed budget during two public hearings in August or September, and copies of the preliminary budget are available at city hall.