The Town of Lake Hamilton is required by Florida State Statute to adopt an annual budget at a public meeting every year. The towns fiscal year begins October 1st and ends September 30th. The town has to follow a process as set by the Florida Department of Revenue to remain in compliance with the budget adoption process.
In 1980, the Florida Legislature passed the Truth in Millage (TRIM) Act. This law is designed to inform taxpayers which governmental entity is responsible for the taxes levied and the amount of tax liability taxpayers owe to each taxing authority. The property appraiser sends this information, known as the TRIM notice, to the property owner.
Truth in Millage establishes the statutory requirements that all taxing authorities levying a millage must follow, including all notices and budget hearing requirements. The TRIM requirements also provide for maximum millage levies for counties, municipalities, and independent special districts. These requirements are prescribed by chapter 200 of the Florida Statutes.
The Town of Lake Hamilton holds several budget workshops throughout the months of June, July, and August and holds two required public hearings prior to adopting the towns millage rate and annual budget. The residents are encourage to be part of the budget process. Check the website calendar and agenda page for meeting information.