The City of Riviera Beach City Council is required to comply with the provisions of Chapter 200.065, Florida Statutes to se the maximum millage rate for FY2017/2018.  The City is also required to set the date and time for the first Public Hearing in September.  The date of the public hearing cannot fall on the same date as Palm Beach County or the Palm Beach County School Board.  The Palm Beach County School Board has set their public hearing for Wednesday, September 6, therefore Staff is recommending that the City Council holds its first public hearing on Thursday, September 7.

The rolled-back rate is 8.2725 mills for FY2017/2018, which is the rate that would generate the same amount of ad valorem revenues less allowances for new construction, additions, deletions, annexations, and improvements.  The rolled-back rate would generate $40.064M in ad valorem revenues, which is $0.869 million less than the budgeted ad valorem tax revenues presented during the budget workshops with the City Council in June. 

Staff is recommending that the City Council set the maximum millage rate at 8.4520 mills, which is the same millage rate as FY2016/2017.  Total taxes to be levied at the proposed millage rate of 8.4520 mills is $40.933 million, of this amount $5.406 million is to be paid to the CRA for its tax increment value, and per the City Charter, $614,088 will be transferred to the Major Disaster Fund.  Once the maximum millage rate is approved the City Council cannot increase the millage rate.