Today is the first time the Board has gone over the proposed 2025 Millage Rates.
There is a lot of talk regarding investment in the district by taxpayers like Disney, Disney Springs operators, and hotel operators and the conversations they are having with them.
Given the ongoing and future investments needed in the district, in terms of setting the operating millage rate, there appears to be some support for option 1 and option 2:
Option 1: Set the Proposed Millage Rate to 14.40 mills. (Debt Service 4.17 mills/Operating 10.23 mills) This raises the Debt Service as needed and raises the Operating millage to fund a 5% increase in expenditures over the Fiscal Year 2023 millage rate.
Option 2: Set Proposed Millage Rate to 13.90 mills. (Debt Service 4.17 mills/Operating 9.73 mills) This raises the Debt Service rate as needed and allocates the remaining millage to Operating. This returns the millage rate to the same rate as Fiscal Year 2023.
The members of the Board were stressing this is not the final set rate and it can be lower. There appears to be more of a consensus that they want a lower rate, but want all available options. There was a slight hesitation between the members of the Board in choosing what options to set, notably, Board Members Barakat and Aungst were in more in favour of option 1, and board members Peri, Ziegler, and Mateer were more in favour of option 2.
After taking a vote to adopt option 1 failed by a vote of two to three, they adopted option 2.
BOS Packet:
https://www.oversightdistrict.org/w...eeting-7-24-24-Draft-Agenda-Packet-PUBLIC.pdf
The proposed rates and options are on the second to last page.