Inverness council to vote on property tax rate, other city business | Local News

If approved, it would mark the third consecutive year the city council has reduced the ad valorem rate.

Under the proposed millage rate, the city’s total revenues, including property taxes, charges for services, and fund balances and reserves, would be nearly $62.9 million.

And this is how the proposed millage rate effects property owners.

One mill in property, or ad valorem taxes, is equal to $1 for each $1,000 of the property’s taxable value. So if a property is worth $75,000, after homestead exemptions, the property owner’s city property taxes would be $582 if the millage rate remains at 7.7600. That does not include county or school taxes.

The rollback rate is the millage rate which would generate the same amount of property tax as the previous year. So if the value of taxable property in the city increases, the rollback rate decreases. The rollback rate for 2022-23 is 7.1673.

The council will meet 5:30 p.m., city hall, 212 W. Main St., Inverness.

The second vote on the millage will be Sept. 20.

Also in council business, the council will receive a presentation by the city’s public arts consultant about two public arts projects in support of this year’s Festival of the Arts.

Pamela Zeljak, with Civic Icon Arts, will give the council an update. This year’s art projects follow a successful 2021 mural project and Festival of the Arts.

Also in city business, City Manager Eric Williams will ask the council members whether they want to review the city’s special zoning exceptions.

As the city faces more development pressures, Williams wrote the council that there will be more cases where developers will request special exceptions for building projects. He said that some of those projects the city faces or will face include cellular towers, large gas station chains, and rare, special exceptions for planned developments such as the city’s recent Wyld Palms and Myrtles by the Lake.