h2. Rate Reduced to Meet $108 Million Ad Valorem Cap
The "Southwest Florida Water Management District(Southwest Florida Water Management District)":/ "Governing Board(Governing Board)":/about/governingboard Tuesday adopted its proposed fiscal year 2012 (FY2012) millage rate.
The proposed FY2012 millage rate of 0.3928 mill takes into account the merger of the budgets of the District's eight Basin Boards into the Governing Board, and the $108 million cap on ad valorem property tax collections passed by the Florida Legislature. FY2012 will run from Oct. 1, 2011, through Sept. 30, 2012.
The Governing Board merged the budgets of the District's eight Basin Boards into the Governing Board in May. The merger was implemented to increase efficiency of operations and reduce costs, and is projected to save $350,000 to $400,000 annually.
Governor Rick Scott in June signed legislation that caps the taxes Florida's five water management districts can assess on residential and commercial properties.
For the owner of a $150,000 home with a $50,000 homestead exemption, the FY2012 Districtwide tax would be $39.28 a year, or about $3.27 per month. The proposed FY2012 millage rate adopted by the Governing Board will be used by county property appraisers when mailing out Truth in Millage (TRIM) notices of proposed property taxes to residents.
Two statutorily required public TRIM hearings on the District's total budget will be held in September. The first will be Sept. 13 at 5:01 p.m. at the District's Tampa Service Office.
The Governor's office and the state legislature will review and approve the budgets of all five water management districts before the second and final public hearing.
The District's second and final TRIM hearing will be Sept. 27 at 5:01 p.m. at the District's Brooksville Headquarters. At the conclusion of the hearing, the Governing Board will formally adopt the final millage rate and budget. The public is welcome to attend any Governing Board meeting to provide comment on the proposed budget.
The adopted FY2012 millage rate and budget, in comparison with FY2011, are outlined in the attached table.
The "Southwest Florida Water Management District(Southwest Florida Water Management District)":/ "Governing Board(Governing Board)":/about/governingboard Tuesday adopted its proposed fiscal year 2012 (FY2012) millage rate.
The proposed FY2012 millage rate of 0.3928 mill takes into account the merger of the budgets of the District's eight Basin Boards into the Governing Board, and the $108 million cap on ad valorem property tax collections passed by the Florida Legislature. FY2012 will run from Oct. 1, 2011, through Sept. 30, 2012.
The Governing Board merged the budgets of the District's eight Basin Boards into the Governing Board in May. The merger was implemented to increase efficiency of operations and reduce costs, and is projected to save $350,000 to $400,000 annually.
Governor Rick Scott in June signed legislation that caps the taxes Florida's five water management districts can assess on residential and commercial properties.
For the owner of a $150,000 home with a $50,000 homestead exemption, the FY2012 Districtwide tax would be $39.28 a year, or about $3.27 per month. The proposed FY2012 millage rate adopted by the Governing Board will be used by county property appraisers when mailing out Truth in Millage (TRIM) notices of proposed property taxes to residents.
Two statutorily required public TRIM hearings on the District's total budget will be held in September. The first will be Sept. 13 at 5:01 p.m. at the District's Tampa Service Office.
The Governor's office and the state legislature will review and approve the budgets of all five water management districts before the second and final public hearing.
The District's second and final TRIM hearing will be Sept. 27 at 5:01 p.m. at the District's Brooksville Headquarters. At the conclusion of the hearing, the Governing Board will formally adopt the final millage rate and budget. The public is welcome to attend any Governing Board meeting to provide comment on the proposed budget.
The adopted FY2012 millage rate and budget, in comparison with FY2011, are outlined in the attached table.