SEMINOLE — City councilors approved both the fiscal year 2019-2020 millage rate and budget following their second public readings at a special Sept. 30 meeting.
For the 13th consecutive year, the millage rate will remain at 2.4793. One mill is equal to $1 for every $1,000 of assessed property value.
The city’s tentative operating and capital budget for 2019-2020 is approximately $24.3 million. Expenditures include approximately $19.1 million to the general fund, $2.47 million to the local infrastructure sales tax fund, $1.3 million to the capital improvement plan, $609,000 to the transportation impact fund, $607,000 to the grants fund, $81,000 to the special events fund and $50,000 to the tree mitigation fund.