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Budget committee recommends rollback millage after ad valorem briefing
Summary
Following a detailed presentation on how property-tax (ad valorem) dollars flow, the Budget Review Committee recommended the rollback millage (option B) be forwarded to the City Commission, directing modest additions to the resiliency and capital funds.
Devin Schmidt, finance director for the City of St. Pete Beach, briefed the Budget Review Committee on the city’s ad valorem taxes and the options before the committee, then committee members recommended the rollback millage rate be forwarded to the City Commission.
Schmidt said the presentation was intended to become the annual standard for the budget process: “So today, we're gonna take you through what we're calling kind of the story of ad valorem taxes,” and to show “where do our taxes come from, who pays them” and how changes would translate into the city’s general fund.
The presentation emphasized that roughly 20% of a…
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