The Temple Terrace City Council initially approved the 2012-13 millage rate and budget Sept. 4 after hearing no public comment on either item.
The represents a 0.28 mill increase over the .
Under the tentative rate, a homeowner whose house is worth $100,000 would pay about $643 in taxes.
Your taxes equal your property value multiplied by the city’s millage rate. In order to keep taxes on par for the next fiscal year, the city must increase the millage rate because property values have decreased.
The council had the opportunity to increase the millage rate to 6.46 mills in order to maintain the same level of revenue for the next fiscal year that it had for this fiscal year based on property values. This comparison is known as a roll up rate.
The tentative millage rate council members approved Sept. 4 is 0.48 percent lower that the roll up rate.
The city’s $46.7 million 2012-13 tentative budget represents a decrease of $990,328 compared to the 2011-12 budget.
The city’s operating budget expenditures of $16,537,129 are 0.5 percent more than last year’s of $16,462,629. The increase is attributed to the rise in fuel and insurance costs, according to the budget document draft (which appears with this story).
The council is expected to take public comment on the tentative millage rate and budget again at its Sept. 18 meeting before giving final approval to each.
Also during the Sept. 4 meeting, the council:
- approved the final site plan for the at 5602 E. Fowler Ave., which plans to demolish its existing car wash and convenience store and build a new 3,200-square-foot store, increase parking and add landscaping;
- approved the ballot language for the Nov. 6 municipal election;
- learned that the —a 5K, 10K and Family Fun Run—is a go for Nov. 17;
- approved a 35-year agreement between the City of Temple Terrace and the City of Tampa for wastewater sewer collection and treatment, which can be changed every three years; and
- gave initial approval to an update to the city’s Comprehensive Plan.