City commissioners approved a timeline July 21 to begin work on the city budget for the 2016-17 fiscal year that begins Oct. 1.
Budget work sessions will be 6 p.m. Thursdays, Aug. 4, Aug. 11 and Aug. 18.
Public hearings are tentatively scheduled, but subject to change. The first public hearing for the budget is proposed for 6 p.m. Wednesday, Sept. 8. The final public hearing and budget vote is set for 6 p.m. Wednesday, Sept. 22.
The commission already voted to set a tentative millage rate of 2.05, the same as the current year, but it amounts to a tax increase. A mill is $1 per $1,000 of property value, which is used to calculate the property tax.
City financial director Maggie Martinez said the 2016-17 fiscal year budget has a rollback rate of 1.8664. The rollback rate is the millage needed to achieve the same ad valorem revenue as the current year.
“Cities rarely use the rollback rate,” Martinez said.
A millage rate that exceeds the rollback rate is a tax increase, according to Florida statutes.
Hearings for the budget will be held at 10005 Gulf Drive.
— Bianca Benedí