Maximum Millage 2018-2025 Form

What is the DR-420MM Form?

The DR-420MM form, also known as the Florida Maximum Millage form, is a crucial document used by local governments in Florida to report their proposed millage rates for the upcoming fiscal year. This form is essential for ensuring transparency in how local tax rates are established and communicated to the public. It serves as a formal declaration of the maximum millage rate that a local government intends to levy, which can impact property tax assessments for residents and businesses alike.

How to Use the DR-420MM Form

Using the DR-420MM form involves several steps to ensure accurate completion and compliance with state regulations. First, local governments must gather data on their proposed budget and the corresponding millage rates. The form requires detailed information about the proposed tax rates, including any adjustments or exemptions. Once completed, the form must be submitted to the appropriate county property appraiser's office for review. This process helps maintain accountability and allows residents to understand how their tax dollars will be utilized.

Steps to Complete the DR-420MM Form

Completing the DR-420MM form involves a systematic approach. Start by collecting all necessary financial data, including the current budget and proposed expenses. Next, calculate the proposed millage rate based on the budget requirements and property values. Fill out the form accurately, ensuring all sections are completed, including the certification by the governing body. Finally, submit the form to the county property appraiser's office before the established deadline to ensure compliance with state laws.

Key Elements of the DR-420MM Form

Several key elements must be included in the DR-420MM form for it to be valid. These elements include:

• Identification of the local government entity.
• The proposed millage rate for the upcoming fiscal year.
• Details on any roll-back rates or adjustments.
• Certification by the governing board, confirming the accuracy of the information provided.

Each of these components plays a vital role in ensuring that the form meets legal requirements and provides clear information to taxpayers.

Legal Use of the DR-420MM Form

The DR-420MM form is legally binding once it has been completed and submitted according to Florida state laws. It must adhere to the guidelines set forth by the Florida Department of Revenue, ensuring that the proposed millage rates are properly documented and communicated. Failure to comply with these regulations can result in penalties or challenges to the proposed rates, impacting local funding and services.

Filing Deadlines / Important Dates

Timely submission of the DR-420MM form is critical. Local governments must file this form by a specific deadline each year, typically set by the Florida Department of Revenue. It is essential to be aware of these deadlines to avoid penalties and ensure that the proposed millage rates are considered during the budgetary process. Marking these dates on a calendar can help local governments stay organized and compliant.