The city council will vote to adopt the millage rate on Aug. 9. A millage rate is used to determine property tax, with a “mill” equating to $1 per every $1,000 in assessed value. Last year, the maintenance and operating millage rate was set at 4.731 mills, the same rate the city has had in place since incorporation (with the exception of 2018) and which is capped in accordance with the 2006 state legislation creating the city. Milton will also vote to set the city’s Greenspace Bond millage rate at 0.487 mills, which was 0.538 mills in FY 2021.
The state requires three public hearings on the proposed millage rate when a municipality does not plan to adopt the “rollback rate” which would avoid an increase in property taxes. When a municipality maintains the current millage rate from the previous year, despite property value increases, property taxes increase.