Florida Administrative Code
12 - DEPARTMENT OF REVENUE
12D - Property Tax Oversight Program
Chapter 12D-17 - TRUTH IN MILLAGE ("TRIM") COMPLIANCE
Section 12D-17.0035 - Instructions and Calculations

Universal Citation: FL Admin Code R 12D-17.0035

Current through Reg. 50, No. 187; September 24, 2024

(1) Rolled-back rate. Specific instructions for calculating the rolled-back rate are contained in the TRIM compliance instructions for completing Form DR-420. In general, the calculation of the rolled-back rate shall include all millages exclusive of voted debt service levies and millages in excess of the 10 mill cap pursuant to Section 200.071, F.S.

(2)

(a) Percent increase over the current year rolled-back rate of tentative millage. The calculation is: current year aggregate tentative millage divided by the current year aggregate rolled-back rate, minus 1.00, times 100, equals the percent to publish in the Notice of Tax Increase advertisement. In other words, the actual calculation would be:

((current year aggregate tentative millage/current year aggregate rolled-back rate) - 1.00) x 100 = percent to advertise in

Notice of Tax

Increase advertisement.

(b) Percent increase over the rolled back rate of final millage. The calculation is: current year final millage divided by the current year rolled-back rate, minus 1.00, times 100 equals the percent to state in the ordinance or resolution as required by Section 200.065(2)(d), F.S. In other words, the actual calculation would be:

((current year final millage/rolled-back rate) - 1.00) x 100 = percent to state in resolution or ordinance

(3) Calculation of proposed, tentative, and final budgets, proposed and final millage rates, and ad valorem proceeds. In calculating these figures, Section 200.065(2)(a)1., F.S., requires each taxing authority to use not less than 95 percent of the taxable value certified to it by the property appraiser. This is at least 95 percent of the gross taxable value appearing on line 4 of the Form DR-420 or Form DR-420S.

(a) The calculation of the tentative budget or ad valorem proceeds is:

Line 4 of Form DR-420 or Form DR-420S x .95 x tentative millage rate = the absolute minimum of ad valorem proceeds to

use for tentative budget purposes

(b) The calculation of the final budget or ad valorem proceeds is:

Line 4 of Form DR-420 or Form DR-420S x .95 x final millage rate = the absolute minimum of ad valorem proceeds to

use for final budget purposes

(4) Budget summary advertisement. The advertised budget shall remain in balance. The tentative millages stated in the budget summary advertisement shall be the millages the taxing authority is proposing to levy, and shall be tied to the anticipated ad valorem proceeds resulting from each millage. Each tentative millage shall be displayed in the budget summary advertisement. However, each millage may be divided and allocated to one or more funds or budgets, provided it is readily apparent in the advertisement that the sum of the millages is less than or equal to the respective proposed millage. The proceeds shall be displayed in the appropriate fund or budget to which they are to be deposited.

Rulemaking Authority 195.027(1), 213.06(1), 218.26(1) FS. Law Implemented 195.002, 200.065, 200.068, 213.05, 218.21, 218.23, 218.63 FS.

New 6-20-91.

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