A Resolution of the City of Sunrise, Florida adopting a Final 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 September 14th, 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 roll-back rate of 5.7200 mills.  The gross taxable value of property in the City, to be utilized for the next fiscal year's budget, including new construction, is $12,165,367,159.  The Resolution adopts the final ad valorem tax levy 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 September 14, 2026, the City Commission adopted a tentative millage rate of .2865 mills for the annual debt service for FY 2026/2027.  The Resolution adopts the final voter approved debt service tax levy necessary to fund the FY 2026/2027 budget for the debt service necessary to pay principal and interest on the General Obligation Bonds.  It should be noted that this debt service millage is lower than the prior year millage of .3019 mills.

It is requested that the City Commission adopt this resolution to adopt the final millage rates for the City's operating budget and the debt service.