A Resolution of the City of Sunrise, Florida adopting a Tentative Millage Rate; authorizing the levy of 6.0543 mills ad valorem tax ($6.0543 per $1,000 of assessed value) on all taxable real and personal property within the city; authorizing the levy of .2865 mills ad valorem tax ($.2865 per $1,000 of assessed value) on all taxable real and personal property within the city, for funds for the annual debt service of the City of Sunrise, Florida, general obligation bonds for Fiscal Year 2026/2027; and providing for an effective date.  City Manager Mark Lubelski.  Susan Nabors, Director of Finance and Administrative Services.

The current FY 2025/2026 adopted millage rate is 6.0543 mills.  On July 14, 2026, the City Commission authorized a tentative millage rate of 6.0543 mills for FY 2026/2027.  This rate is the same as the current adopted millage rate and is 5.84% more than the rolled-back rate of 5.7200 mills.  The gross taxable value of property in the City, including new construction, is $12,165,367,159.  The proposed Resolution adopts the tentative ad valorem tax rate of 6.0543 mills, which is necessary to fund the FY 2026/2027 budget for the City.

In November 2014, residents voted and approved funding for the General Obligation Bonds for development, design, acquisition, and construction for certain parks, recreation and leisure projects within the City.  On July 14, 2026, the City Commission authorized a tentative millage rate of .2865 mills for the annual debt service for FY 2026/2027.  The proposed Resolution adopts the voter approved debt service tax levy necessary to fund the FY 2026/2027 Budget to fund the debt service necessary to pay principal and interest on the General Obligation (GO) Bonds.  It should be noted that this debt service millage of .2865 is lower than the prior year millage rate of .3019 mills.

It is requested that the City Commission adopt the tentative millage rates, via this resolution, for the City's General Fund operating budget and the debt service.