BELLEAIR BEACH - The city council met Monday for a final budget hearing for the upcoming fiscal year.
The final millage rate for the city was cast at 2.3100 mills for the year. That is 19.08 percent above the rolled back rate of 1.9399 mills.
The rollback rate is the millage rate that will provide the same ad valorem tax revenue as was levied the prior year.
Said Mayor Rudy Davis, "The 19.08 percent increase is the percentage increase in property taxes." Davis explained that, "The purpose for setting the final millage at 2.3100 mills is to fund general fund expenses for the fiscal year beginning October 1, 2006 and ending September 30, 2007."
The final millage will achieve $1,159,352 in net ad valorem tax revenues, up $$186,450 from last year.
According to the Pinellas County Property Appraiser, the fiscal year 2006-2007 preliminary gross taxable value of real property within Belleair Beach is $522,795,679. At 24.93 percent, this represents a $104,322,619 increase over the 2005-2006 fiscal year, which was $418,473,060.
The millage rate of 2.31 mills was approved during the city's first public hearing for the adoption of millage and budget on August 28, 2006.
The council also approved a resolution to amend the budget to include updated criteria. After the August 28 meeting, city staff identified a couple of items that needed changing.
At the August 1 budget workshop, the council approved to increase the cul de sac planter improvement project, budgeted at $4,000. The total amount was changed to $13,225.00.
Causeway maintenance was budgeted at $8,256 but was removed because the bridge will be under construction in the upcoming year, therefore the city won't need to maintain the area. The amount was moved to the public works department.
Melanie Neumann the city's finance officer stated that the total fund budget after the amendments for the upcoming fiscal year is $2,899,073 with the general fund totaling $2,465,758, the marina fund being $60,657 and the capital projects fund equaling $372,658.