The City of Riviera Beach is required to comply with the provisions of Chapter 200.065, Florida Statutes to set the Maximum Millage Rate for FY 2020/2021. 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 hearings held for Palm Beach County or the Palm Beach County School Board. Palm Beach County has set its public hearing for Thursday, September 3, 2020 and the Palm Beach County School Board has set its public hearing for Wednesday, September 9, 2020, therefore, staff is recommending that the City Council holds its first public hearing on Tuesday, September 8, 2020 at 6:00PM in the City’s Council Chambers.

The rolled-back rate is 7.9567 mills for FY 2020/2021, 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 $47.6 million in ad valorem revenues, which is $3.0 million less than a millage rate of 8.4520 would generate.

Staff is recommending that the City Council set the Maximum Millage Rate at 8.4520 mills, which is the same millage rate as FY 2020/2021. Total ad valorem taxes to be levied at the proposed millage rate of 8.4520 mills are $50.6 million, of this amount $5.6 million is to be paid to the CRA for its tax increment value, and per the City Charter, $0.79 million will be transferred to the Major Disaster Fund. Upon approval of the Maximum Millage Rate by the City Council, the millage rate may be decreased, but cannot be increased above the proposed

The proposed millage rate, roll-back rate and first public hearing date must be returned to the Palm Beach Property Appraiser by no later than July 30, 2020.