June 9, 2026 WS PPT

City Commission Workshop · 2026-06-09 · other

This document is a budget workshop for the City of Ormond Beach discussing property tax reform and its impact on city funding. It outlines proposed changes to homestead and non-homestead property tax exemptions and caps, projecting significant value and revenue loss for the city in fiscal years 2027-28 and 2028-29. The document details budget reduction approaches, prioritizing essential services and suggesting modifications to discretionary spending, while advising against across-the-board percentage cuts. It highlights the need to either reduce services or increase other fees to compensate for the projected property tax revenue loss. The current tax rate is 4.3202 mills, with a projected rollback millage of 3.8202. The document indicates a potential revenue loss of $8,179,771 over three years due to these reforms.