City Commission Approves Tentative Budget.
Written by Kristen Schmutz
Belden Communications News
Daytona Beach’s City Commission unanimously voted to approve a tentative budget for the next fiscal year to include a reduction from the rolled-back millage rate, back at their September 9 meeting.
The rollback millage rate is the property tax rate that would produce the same revenues from existing properties and has been lowered from 5.8587 to 5.5300, according to a release from the city.
The results from the millage rate reduction will be about $1.8 Million remains with taxpayers.
The $255 million tentative budget is 2.57% lower than the current year’s adopted budget primarily due to the financial impact of the COVID-19 pandemic. Fiscal Year 2020/21 runs from Oct. 1, 2020, to Sept. 30, 2021.
Adoption of the budget is scheduled for 6 p.m. on Wednesday, September 23 at the next City Commission Meeting that is to be held at City Hall on Ridgewood in Daytona Beach.
The tentative budget can be found here.
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