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Staff flags state rollback‑rate change; Islamorada reviews conservative revenue estimates
Summary
Finance staff told council a recent state law changed the rollback‑rate calculation, lowering some millage thresholds; staff said they used conservative revenue figures (sales tax and business distribution) pending updated state numbers and tourism data.
Finance staff walked council through revenue assumptions on Aug. 4 and flagged a recent legislative change that altered how the property-tax rollback rate is calculated. The change — passed in a recent special session — affected the village’s millage thresholds and means some supermajority or unanimous thresholds are lower than in past years.
The finance director said some revenue lines (the Monroe County business tax distribution and the 0.5‑cent sales tax projection) were conservative because state and local tourism data were not yet final. She said once state numbers and updated collections are available she will update the projections for the final budget hearing. "The legislature passed a new law calculating how the rollback rate is calculated," staff explained to council, noting the measurement change when the council discussed the supermajority and unanimous thresholds. Council asked staff to clarify specific declines in projections and to update the numbers before the next hearing.
