Notice of Proposed Property Tax Rate Change for FY 2024-2025

Original title: Announcement of the Percentage Change in the FY 2024-2025 Aggregate Tentatively Adopted Millage from the Aggregate Rolled-Back Rate

Record date · September 10, 2024

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What This Bill Does

This document serves as a formal public notice regarding the proposed change in the aggregate property tax compared to the rolled-back rate for the 2024-2025 fiscal year. It indicates that a public hearing is scheduled to discuss these tax rate adjustments.

Why it matters

This notice informs property owners that the local government is proposing a tax rate that differs from the 'rolled-back rate'—the rate that would generate the same amount of tax revenue as the previous year—which directly impacts the total property tax bill for residents and businesses.

Who It Affects

Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.

Directly affected

Property owners

Property owners are affected because the proposed millage rate determines the amount of property tax they will be billed for the upcoming fiscal year.

Key Facts

The document is a formal announcement of the percentage change in the aggregate tentatively adopted millage rate compared to the aggregate rolled-back rate.
The document is categorized as a public hearing item related to the budget.
The file was introduced on August 27, 2024.
The status of the file is currently 'Agenda Ready'.

Frequently Asked Questions

What is the 'rolled-back rate'?

The rolled-back rate is the tax rate that would generate the same amount of property tax revenue as the previous year, excluding new construction and other specific adjustments.

Why is this notice being issued?

Local governments are required to provide public notice when they propose a that differs from the rolled-back rate to ensure transparency regarding potential changes in tax revenue.

What else do you want to know?