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Panama City adopts tentative millage, approves $136.5 million tentative budget; adds MLK rec center operating funds
Summary
At a Sept. 9 budget hearing, the Panama City Commission voted 5-0 to adopt tentative millage rates of 4.7999 mills for the city’s general fund and 3.0 mills for the Panama City Downtown Improvement District, and to approve a tentative fiscal budget that includes $136,529,775 in city expenditures (excluding interfund transfers) and $242,640 for the Downtown Improvement District.
At a Sept. 9 budget hearing, the Panama City Commission voted 5-0 to adopt tentative millage rates of 4.7999 mills for the city’s general fund and 3.0 mills for the Panama City Downtown Improvement District, and to approve a tentative fiscal budget that includes $136,529,775 in city expenditures (excluding interfund transfers) and $242,640 for the Downtown Improvement District.
The tentative millage rates together create a current aggregate rate of 4.8626 mills, which the commission said is 2.8% higher than the current aggregate rollback rate of 4.73 mills. The millage and the budget were presented as the first public hearings required under the Truth in Millage (TRIM) process; both measures passed on roll-call votes of 5-0.
City staff and commissioners said the tentative budget includes new operational funding for the city’s planned MLK recreation…
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