The cities of Daytona Beach, Ormond Beach and Holly Hill have set their fiscal year 2021-22 millage and budget rates.
In Daytona Beach, commissioners voted 5-1 to approve the budget and millage rates at Sept. 22.
The property tax millage rate is 5.5300 ($5.5300 per $1,000 of assessed taxable value). This is a 2.7% tax increase from the rolled back rate of 5.3843; and a debt service millage rate of 0.2394 ($0.2394 per $1,000 of assessed taxable value), which is a 5.52% reduction from the FY 2020-21 rate.
Fred Coulter, information systems and budget director, made the presentation to commissioners. He stated on homesteaded property using current home valuations, the average tax increase would amount to about $30. He said the increase “covers some of the increase in personnel costs.”
The rate is calculated to yield the amount needed to pay the debt service for the general obligation bonds in FY 2021-22. The general obligation bonds were approved by voters in 2004. One mill will result in budgeted revenues of $5.94 million. The millage rate of 5.5300 will yield $32.85 million in property tax revenue.
The budget for the fiscal year Oct. 1 to Sept. 30, shows estimated revenue sources of $312.4 million with operating costs of $245.8 million, transfers of $52.4 million and capital expenses of $14.2 million.
Commissioner Ruth Trager voted against both the millage rate and budget.
“I’m very sorry we have to do this and I wish we didn’t,” Commissioner Trager said. “I wish we didn’t have to do both a raise in valuation and a raise in millage the same year after the disastrous year we had last year. I really would like to give our residents a break this year.”
Mayor Henry stated, “It’s never easy to be in a place where you are elevating taxes or increase. I believe this is a sound and responsible budget.”
He stressed that everything is going up, including gas needed for city vehicles.
Also, the Daytona Beach Downtown Development Authority adopted a property tax millage rate of 1.0000 ($1 per $1,000 of assessed taxable value). This was the rate used in the Notice of Proposed Property Taxes and is a 52.33% reduction from the rolled back rate of 2.0977. The budget was set at $309,737.
In Holly Hill, city commissioners unanimously approved both the final millage rate and the budget Sept. 28.
The FY 2021-22 final operating millage is 6.25 mills, which is greater than the rolled-back rate of 6.0034 mills by 4.11%. The gross taxable value for operating purposes not exempt from taxation has been certified by the Volusia County Property Appraiser for the City of Holly Hill as $737.7 million.
The final budget, at about $26.97 million, can be viewed at the city’s website in a detailed 162-page document.
In Ormond Beach, city commissioners also met Sept. 22 and approved the millage rate and city budget. On both items, Commissioner Dwight Selby was the lone dissenter.
In order to meet the estimate of expenses of the city, it was decided the total operating millage will be 3.9128 mills or $3.9128 per $1,000 of taxable value. The millage rate is a 4.70% above the “rolled-back” millage rate, which is $3.7370 per $1,000 of taxable value.
The budget was approved at $101.7 million. It is anticipated in the coming fiscal year, there will be $96.5 million in revenue and $101.72 million in expenses with nothing added to reserves. The rest of the expenses will be covered by $5.2 million from reserve funds.
The budget includes $15.92 in capital projects and acquisitions of new vehicles and equipment, most of which are funded from dedicated capital funds, which allow the city to “pay as they go” to repair, replace and innovate without borrowing money.