FY 2013 Proposed Budget Book - Home | Orange County Gov FL

Millage Computation Process
General County (County-Wide) Rolled-Back Millage Rate
Prior Year Data
Prior Year Final
Gross Taxable
Value
times
Prior Year
Operating Millage
equals
Prior Year
Proceeds
minus
Prior Year Amount
paid
to CRAs
equals
Prior Year
Adjusted
Proceeds
81,290,439,264 4.4347 360,498,711 20,980,120 339,518,591
(see notes)
Current Year Data
divided
by
Current Year
Gross Taxable
Value
minus
Net New Taxable
Value
(construction)
equals
Current Year
Adjusted Taxable
Value
minus
Dedicated
Increment Value
(CRAs)
equals
Adjusted Current Yr.
Taxable Value
(see note)
81,436,205,683 657,613,669 80,778,592,014 4,717,028,840 76,061,563,174
Notes: equals
Millage - The term "millage" is used throughout the budget book, and is defined in our Glossary
as a tax rate per $1000 of taxable value. So in the computations above, for example, the "millage"
rate is divided by 1000 before being multiplied by the taxable value. Current Year
Rolled-Back
This example shows only the general county millage and does not include unincorporated areas Rate
such as the Sheriff's millage, the Fire/Rescue millage, or millages of other dependent districts. 4.4637
The rolled-back rate, in aggregate, is the rate used for Truth in Millage ("TRIM") advertisements.
Any rate above the rolled-back rate must be advertised as a "tax increase", under Florida Statutes.
The "Millage and Property Value Detail" schedule shows how each rate relates to the aggregate.
The Adjusted Current Year Taxable Value corresponds to the Florida Department of Revenue
Form DR-420, line 15. This number is sometimes called "Adjusted Value".
Budget in Brief Section 1 - pg. 48