Daytona Beach’s City Commission voted unanimously at their Sept. 9 meeting to approve a tentative budget for next fiscal year that includes a reduction from the rolled-back millage rate. (The rollback millage rate is the property tax rate that would produce the same revenues from existing properties.) The millage rate was lowered from 5.8587 to 5.5300.
The millage rate reduction results in about $1.8 million remaining 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 Facebook Social Network COVID-19 pandemic. Fiscal Year 2020/21 runs from Oct. 1, 2020, to Sept. 30, 2021.
The budget is scheduled for adoption at 6 p.m. Wednesday, Sept. 23, at the City Commission meeting, which will be at City Hall, 301 S. Ridgewood Ave.
To see the tentative budget, visit https://bit.ly/3hjc8YJ.