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Margate sets preliminary millage ceiling at 7.5389; commissioners seek lower CRA contribution in FY2026 budget workshop
Summary
At a July 9 budget workshop, Margate staff proposed a $255 million FY2026 budget and commissioners by consensus set a preliminary millage ceiling of 7.5389; the commission also asked staff to research reducing the city's CRA TIF contribution to 80%, which staff said could free about $1.3 million.
City of Margate officials on July 9 reviewed a proposed fiscal year 2026 budget and set a preliminary millage ceiling of 7.5389 by commission consensus, while asking staff to pursue a reduced tax‑increment contribution to the Community Redevelopment Agency (CRA) that officials said could free roughly $1.3 million for city use.
Finance Director Ishmael Diaz and Budget Manager Dacia Burke led a presentation that placed the proposed total FY2026 budget at about $255 million and the proposed general fund at $85.3 million. Burke said the total millage proposed for FY2026 is 7.5389 "and that's a reduction of 0.0278, which is approximately $140,000," and that the operating millage has remained at 7.1171 since FY2020. The staff presentation used June 1 Broward County property appraiser values as the basis for revenue estimates; staff showed an estimated 6.5% increase in taxable value that underlies projected ad valorem revenue.
Budget highlights presented to the commission included a proposed $80,000,000 allocation from a…
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