2016-29484 Reso RESOLUTION NO. 2016-29484
A RESOLUTION OF THE MAYOR AND CITY COMMISSION
OF THE CITY OF MIAMI BEACH, FLORIDA SETTING 1)THE
PROPOSED OPERATING MILLAGE RATE; 2) THE
REQUIRED DEBT SERVICE MILLAGE RATE; 3) THE
CALCULATED"ROLLED-BACK" RATE; AND,4)THE DATE,
TIME, AND PLACE OF THE FIRST PUBLIC HEARING TO
CONSIDER THE MILLAGE RATES AND BUDGETS FOR
FISCAL YEAR(FY)2016/17; FURTHER AUTHORIZING THE
CITY MANAGER TO TRANSMIT THIS INFORMATION TO
THE MIAMI-DADE COUNTY PROPERTY APPRAISER IN
THE FORM REQUIRED BY SECTION 200.065, FLORIDA
STATUTES.
WHEREAS, Section 200.065, Florida Statutes, has specified the method by which
municipalities may fix the millage rate and adopt an annual budget; and
WHEREAS, development of the FY 2016/17 budget began early in the year and has
included discussions with the Commission that included a review of priorities, economic
projections and their impacts on the budget, preliminary projected revenues and
expenditures; and
WHEREAS, over the last several years, the City of Miami Beach has adopted
budgets that provided tax and fee relief while at the same time providing improved services
that address needs and priorities identified by the community and providing structural
changes that enhanced capital funding and reserve; and
WHEREAS, maintaining and enhancing the City's priorities have become
9 9 Y P
increasingly more challenging in the last nine years: first through property tax reform where
tax rates were dramatically reduced; and subsequently with the decline in property as well
as increasing pension costs; and
WHEREAS, the July 1, 2016, Certification of Taxable Value from the Miami-Dade
County Property Appraiser reflects a 13.03 percent increase in Citywide property tax values
from the July 1, 2015, tax roll certification, a 16.4 percent increase in the City Center
Redevelopment Area (RDA), and a 12.3 percent increase in values outside the City Center
RDA, which impacts the City's General Fund revenues; and
WHEREAS, at the July 6th, Finance and Citywide Projects (FCWPC) meeting the
consensus was to set the proposed operating millage in July at the rate of 5.8888, which is
0.0235 less than the FY 2015/16 rate; and
WHEREAS, the City of Miami Beach is required to advise the Miami-Dade County
Property Appraiser of the Proposed Millage Rates, the "Rolled-Back" Rate, and the date,
time, and place of the first public hearing; and
WHEREAS, the January 1, 2015, tax roll declined by $777.8 million between the
July 1, 2015, valuation and the July 1, 2016, valuation due to appeals, adjustments, etc.,
which is part of the reason the FY 2016/17 "rolled-back rate" is 0.5226 mills lower than the
FY 2015/16 current operating millage rate; and
NOW THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND THE CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the following
recommendations of the Administration be and are hereby ratified for transmittal to the
Miami-Dade County Property Appraiser, as specified in Section 200.065, Florida Statutes:
1) Proposed Millage Rates for FY 2016/17
Operating Millage 5.7092 mills
Debt Service 0.1796 mills
Total Combined Millage 5.8888 mills
2) "Rolled-Back" Rate 5.1866 mills
3) The first public hearing on the proposed millage rate and the tentative budget for FY
2016/17 shall be held on Wednesday, September 14, 2016 at 5:01 P.M., in the City
Commission Chambers, City Hall, 1700 Convention Center Drive, Miami Beach,
Florida.
PASSED and ADOPTED, this 13th day of July, 2016.
ATTEST:
7 f M.S.���� B E21�q� if
sr Philip Levine
Raphael E. G anado, City
* INCORP ORATED:
♦ . APPROVED AS TO
r
..• — . O FORM& LANGUAGE-
......H Zt{jFo• &F R FXECUTION
City Attorney Date
COMMISSION ITEM SUMMARY
Condensed Title:
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA SETTING
1) THE PROPOSED OPERATING MILLAGE RATE; 2) THE REQUIRED DEBT SERVICE MILLAGE RATE; 3) THE
CALCULATED"ROLLED-BACK" RATE;AND,4)THE DATE, TIME,AND PLACE OF THE FIRST PUBLIC HEARING
TO CONSIDER THE MILLAGE RATES AND BUDGETS FOR FISCAL YEAR (FY) 2016/17; FURTHER
AUTHORIZING 'THE CITY MANAGER TO TRANSMIT THIS INFORMATION TO THE MIAMI-DADE COUNTY
'ROPERTY APPRAISER IN THE FORM REQUIRED BY SECTION 200.065, FLORIDA STATUTES
Key Intended Outcome Supported:
Ensure expenditure trends are sustainable over the long term
Supporting Data (Surveys, Environmental Scan, etc.):
In the 2014 Community Survey, both residents and businesses reported the following area for the City related to
value for taxes paid:
•Percentage of residents rating the Overall Value of City services for tax dollars paid as excellent or good
(Residents: 58%; Businesses 54%)
Item Summary/Recommendation:
FS 200.065, entitled "Method of Fixing Millage" establishes specific guidelines that must be used by all local
government entities in setting millage (property tax) rates. Under the statute, the City is required, within 35 days of
receipt of the "Certification of Taxable Value" (received July 1, 2016), to advise the Miami-Dade County Property
Appraiser of the proposed general operating millage rate, the calculated "rolled-back" rate and the date, time, and
place of the first public hearing to consider the proposed millage rates and tentative budgets for FY 2016/17. The
required Debt Service millage rate must also be set at the same time as the General Operating millage.
After setting the proposed operating millage rate, the Commission may, at any time prior to the final adoption, lower
the rates by adjusting priorities. However, increasing the millage rate may only be accomplished by an expensive
mailing and advertising process to every property owner on Miami Beach. The City's proposed operating millage
rate as well as that of other taxing authorities will be included in the Truth-in-Millage (TRIM) statement sent to each
property owner in the City on August 24th by the Property Appraiser.
For FY 2016/17, the Administration proposes a total combined millage rate for the City of Miami Beach of 5.8888,
which represents a decrease of 0.0235 mills from 5.9123 in FY 2015/16. The proposed voted debt service millage
rate is adjusted from 0.2031 to 0.1796, a decrease of 0.0235 mills. The FY 2016/17 proposed millage rate requires
a majority vote.
The proposed millage provides funding to offset increases to the FY 2015/16 Current Service Level Budget in
employee costs such as a 1 percent cost of living increase; 2 percent performance-based merit increase; additional
union contract changes for members of the Fraternal Order of Police and International Association of Fire Fighters;
the impact of annualized costs for items added during FY 2015/16; higher operating costs; internal service fund
charge-backs; and several new program and service enhancements.
Advisory Board Recommendation:
Finance&Citywide Projects Committee meetings on June 6`h, July 6`h, and July 22"d, 2016
Financial Information:
Source of Funds: Amount Account
1
OBPI Total
Financial Impact Summary The July 1, 2016 Certification of Taxable Value from the Miami-Dade County
Property Appraiser reflects a 13.03 percent increase in Citywide property tax values from the July 1, 2015 tax roll
certification. Given that the City Center RDA had a 16.4 percent increase in taxable values,the increase outside the
City Center RDA, which impacts the City's General Fund revenues, was 12.3 percent. The proposed millage for the
FY 2016/17 budget results in increased property tax revenues in the General Fund of$17.6 million.
City Clerk's Office Legislative Tracking:
Sign-Offs:
e• .rtme a,'irector Assistant Cit Mana•er ;�,��ana•er
•
WIAMI BEACH AGENDA ITEM
DATE 7-13'1
MIAMI BEACH
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov
COMMISSION MEMORANDUM
TO: Mayor Philip Levine and Members of the City Co, mission
FROM: Jimmy L. Morales, City Manager
DATE: July 13, 2016
SUBJECT: A RESOLUTION OF THE MAYO°i AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA SETTIN 1) THE PROPOSED OPERATING MILLAGE
RATE; 2) THE REQUIRED DEBT SERVICE MILLAGE RATE; 3) THE
CALCULATED "ROLLED-BACK" RATE; AND, 4) THE DATE, TIME, AND
PLACE OF THE FIRST PUBLIC HEARING TO CONSIDER THE MILLAGE
RATES AND BUDGETS FOR FISCAL YEAR (FY) 2016/17; FURTHER
AUTHORIZING THE CITY MANAGER TO TRANSMIT THIS INFORMATION TO
THE MIAMI-DADE COUNTY PROPERTY APPRAISER IN THE FORM
REQUIRED BY SECTION 200.065, FLORIDA STATUTES.
ADMINISTRATION RECOMMENDATION
The Administration recommends that the Mayor and City Commission adopt the attached
resolution which authorizes the City Manager to transmit the following information to the
Miami-Dade County Property Appraiser:
1) Proposed Millage Rates for FY 2016/17:
Operating Millage 5.7092 mills (same as last year)
Voted Debt Service 0.1796 mills (0.0235 decrease from last year)
Total 5.8888 mills (0.0235 decrease from last year)
2) "Rolled-Back" Rate (Truth in Millage) 5.1866 mills
3) The first public hearing to consider the proposed millage rates and tentative budgets for
FY 2016/17 shall be Wednesday, September 14, 2016 at 5:01 p.m., in the City
Commission Chambers, City Hall, 1700 Convention Center Drive, Miami Beach, Florida.
The "Rolled-Back" millage rate for FY 2016/17 is the millage rate required to produce the
same level of property tax revenues in the General Fund in FY 2016/17 as anticipated to be
received in FY 2015/16. It is important to note, that the January 1, 2015, tax roll Citywide
declined by almost $777.8 million between the July 1, 2015 valuation and the July 1, 2016
valuation due to appeals, adjustments, etc, which is part of the reason the FY 2016/17
"rolled-back rate" is 0.5226 mills lower than the FY 2015/16 current millage rate and lower
than it would be if the rollback rate was only adjusted for the increase in revenues generated
by higher property values. The area outside of City Center RDA, which impacts General
Fund revenues, declined in value by approximately $436.8 million during the same period of
time.
The proposed millage provides funding to offset increases to the FY 2015/16 Current
Service Level Budget in employee costs such as a 1 percent cost of living increase; 2
percent performance-based merit increase; additional union contract changes for members
of the Fraternal Order of Police and International Association of Fire Fighters; the impact of
FY 2016/17 Proposed Millage Rate
July 13, 2016
Page 2
annualized costs for items added during FY 2015/16; higher operating costs; internal service
fund charge-backs; and several new program and service enhancements.
SUMMARY
In FY 2010/11 the city's approach to addressing the then deficit of $32 million included a
distribution of the shortfall between taxpayers and employees. Taxpayers had their tax rate
increased from 5.9123 to 6.5025, an increase of 0.5902 mills. The goal of the Commission
has been to bring them back to that level as property values increase over time. It should be
remembered that between FY 2009/10 and FY 2010/11 values declined by $2.6 billion
driving the need for an increase in the millage.
In FY 2011/12 the City took its first step in that direction with a reduction in the millage rate
of 0.0486 mills. The millage rate for FY 2012/13 reduced the millage by an additional 0.1062
mills. In the FY 2013/14 budget, the millage rate was reduced 0.2314 mills and in the FY
2014/15 budget the millage rate was reduced 0.0926 mills. Over four years, this reduction
represented 81 percent of the goal to get back to a millage rate of 5.9123. The remaining
goal for millage reduction is 0.1114.
In FY 2015/16, the Administration met the remaining millage rate goal to lower the millage
rate to the level in FY 2009/10 as property values have increased over time for a combined
millage rate for the City of Miami Beach of 5.9123.
For FY 16/17, the Administration proposes a total combined millage rate for the City of
Miami Beach of 5.8888, which represents a decrease of 0.0235, and the lowest rate in at
least 18 years.
The proposed operating millage of 5.7092 is equivalent to the FY 2015/16 operating millage.
The proposed voted debt service millage rate is adjusted from 0.2031 to 0.1796, a decrease
of 0.0235 mills.
In prior years, the City of Miami Beach significantly reduced tax rates as property values
increased. Between FY 1999/00 and FY 2009/10, total combined City of Miami Beach
property tax rates declined approximately 2.8 mills. In FY 2007/08 alone, the millage rate
declined by approximately 1.8 mills, with annual savings to the average homesteaded
property of over $400. Further, despite an adjustment of 0.56 mills in the operating tax rate
in FY 2010/11, City of Miami Beach proposed combined millage rates today remain more
than 2.8092 mills lower than in FY 1999/00 (32 percent), and 1.7607 mills lower than
2006/07 (23%).
GENERAL FUND CURRENT SERVICE LEVEL BUDGET DEVELOPMENT
At the strategic planning retreat on May 12, 2016, the Commission was briefed regarding
the preliminary General Fund Current Service Level (CSL) budget. The CSL represents the
cost of providing the same level of services as in the prior year and serves as the baseline
of funding for the budget process.
Property taxes comprise 50% of the total General Fund revenue and are a key driver of CSL
revenues. The Property Appraiser provided the preliminary 2016 property values on June 1,
2016. The Commission was briefed regarding the updated CSL budget at the June 6th
Finance & Citywide Projects Committee. The preliminary 2016 property values increased
FY 2016/17 Proposed Millage Rate
July 13, 2016
Page 3
12.2% versus the 2015 certified values, which resulted in an increase of $17.8 million in
General Fund property tax revenues.
Total CSL revenues were estimated to increase $17.8 million due to the increase in property
tax revenues (assumed keeping the operating millage rate the same), and maintaining non-
property tax revenues including the Resort Tax contribution flat.
CSL expenditures were estimated to increase $13.5 million due to the following:
• 0-2 percent merit pay: $2.2 million
• 1 percent COLA in April 2016 and 3 percent COLA in July 2017: $2.5 million
• Increase in citywide Health and Life Insurance of$706,000
• Increase in the Police Department over-time expenses of$1.7 million, an increase in
Police allowances (hazard duty pay) due to Union negotiations of $921,000, and an
additional $160,000 for uniforms
• Increase in Fire allowances (hazard duty pay, uniforms) due to Union negotiations of
$1 million
• $253,000 for the Voluntary Pre-Kindergarten program
• $200,000 for the Mobility Fee Study
• $190,000 for the '2066 Miami Beach Rising Above and Time Capsule' project
• Increase in Information Technology of$240,000 due to one-time Terramark charge
• Annualized costs for items added during FY 2015/16 such as $760,000 for the
Customer Service Center, $534,000 for the adjustment of the PC replacement cycle
from 5 to 3 years (year 2 of 2), $238,000 for a new contract for the Building
Department Inspectors and Plan Examiners, and $112,000 for an increase in
Special Master rates
• Annualized costs for items added mid-year including $526,000 for four traffic flow
specialists, 2 analysts and 1 supervisor to support the Traffic Management Initiative,
$60,000 for towing and relocation of derelict vessels, and $25,000 for the Miami
Dade Transit Corporate program.
• These expenditure figures do not assume additional savings from potential
efficiencies or reductions.
The preliminary CSL based on June 1St property values had a revenue increase of $17.8
million and an expenditure increase of $13.5 million for a net surplus of $4.3 million, based
on maintaining the same operating millage of 5.7092.
BALANCING STRATEGIES
The impact of the change from the June 1st preliminary taxable values of 12.2 percent to the
July 1st certified taxable values that updated the increase to 13.0 percent was calculated to
generate $17.6 million. This is a decrease of $177,000 compared to the estimate at June 1st
of $17.8 million. This is due to the City Center CRA certified values being greater than
estimated at June 1st, therefore taking a greater share of the General Fund property tax
revenue.
At the July 6th Finance and Citywide Projects Committee meeting, the Administration
presented to the committee the updated General Fund revenues based on the July 1st
certified values, and the updated General Fund CSL including the Pension Mortality
Payment set-aside of $3 million and $1 million for the Risk Management Fund Allowance.
Additionally the administration presented proposed efficiencies which the Committee
accepted totaling $1,051,000, and additional pension costs as part of the annual required
FY 2016/17 Proposed Millage Rate
July 13, 2016
Page 4
contribution of $1.2 million, and a recommended enhancement of $59,000 for a Munis
Administrator for the IT department. All in all this represented a remaining surplus of
$2,308,000 for the Committee to provide direction on.
FY17 CSL
Property Tax Revenues 160,779,000
Non-property Tax Revenues 158,219,000
Total Revenues 318,998,000
Department Operating CSL 306,917,000
Capital Funded by General Fund 5,565,000
Total General Fund CSL 312,482,000
Pension Mortality Payment Set-Aside 3,000,000
Risk Management Fund Allowance 1,000,000
Surplusl(Defidt) 2,516,000
Additional Revenues
Proposed Efficiencies 1,051,000
Total 1,051,000
Additional Expenses
Additional Pension costs 1,200,000
Proposed Enhancements 59,000
Transportation Fund -
Total 1,259,000
Unallocated Surplusl(Defidt) 2,308,000
Additional information was requested by the Committee with regards to the enhancements
and the millage rate scenarios which would impact this surplus and will be brought back to
the Finance and Citywide Projects Committee 3rd Budget Briefing on July 22nd for further
discussion and finalization.
The remaining steps in the decision-making process include the first public hearing on the
FY 2016/17 Proposed Work Plan and Budget on September 14th and a second public
hearing on September 27th
STATUTORY REQUIREMENTS
FS 200.065, entitled "Method of Fixing Millage" establishes specific guidelines that must be
used by all local government entities in setting millage (property tax) rates. Under the
statute, the City is required, within 35 days of receipt of the "Certification of Taxable Value"
(received July 1, 2016), to advise the Miami-Dade County Property Appraiser of the
proposed general operating millage rate, the calculated "rolled-back" rate and the date, time,
and place of the first public hearing to consider the proposed millage rates and tentative
budgets for FY 2016/17. The required Debt Service millage rate must also be set at the
same time as the general operating millage.
After setting the proposed operating millage rate, the Commission may, at any time prior to
the final adoption, lower the rates by adjusting priorities. However, increasing the millage
rate may only be accomplished by an expensive mailing and advertising process to every
property owner on Miami Beach. The City's proposed operating millage rate as well as that
of other taxing authorities will be included in the Truth-in-Millage (TRIM) statement sent to
each property owner in the City.
FY 2016/17 Proposed Millage Rate
July 13, 2016
Page 5
ANALYSIS OF PROPERTY VALUES IN MIAMI BEACH
On July 1, 2016, the City received the 2016 Certification of Taxable Value from the Property
Appraiser's Office stating that the taxable value for the City of Miami Beach is $34.6 billion
including $1.1 billion in new construction. The certified 2016 value represents an increase
of $3.9 billion or 13.03 percent more than the July 1, 2015, Certification of Taxable Value of
$30.6 billion.
The comparative assessed values for the Miami Beach Redevelopment Agency City Center
redevelopment district increased from $4.8 billion to $5.6 billion an increase of $791 million
or a 16.4 percent increase over 2015 certified values. Citywide values excluding City Center
increased from $25.9 billion to $29.0 billion, an increase of $3.2 billion or 12.4
percent. Values outside the City Center area determine General Fund revenues.
Comparative Assessed Values Citywide vs. RDA
Jan. 1, 2016
Value(in Change from 2015
Jan. 1 2015 Value(in billions) billions) Value(Budget)
1 Revised
Value
As ofJuly1,2015 (For Change in AsofJuly1,2016
(For 2015/16 2015/16 2015 (For 2016/17 $
Budget) Projection) Values %Chg. Budget) (in billions) %Chg
Total $ 30.6978 $29.9200
Citywide (0.7778) -2.5% $ 34.6977 $ 3.9999 13.0%
RDA-City $ 4.8216' $ 4.4806 $(0.3410) -7.1% $ 5.6127 $ 0.7911 16.4%
Ctr
Citywide
Net of City $ 25.8762 $25.4394 $(0.4368) -1.7% $ 29.0850 $ 3.2088 12.4%
Center
I
-J
VALUE OF ONE MILL OF TAXABLE VALUE
The first building block in developing a municipal budget is the establishment of the value of
one mill of taxation, wherein the mill is defined as $1.00 of ad valorem tax for each $1,000 of
property value. For the City of Miami Beach, the value for each mill is determined by the
2016 Certification of Taxable Value and has been set at $34.6 million. Florida Statutes
permit a discount of up to five percent for early payment discounts, delinquencies,
etc. Therefore, the 95 percent value of the mill is $32.9 million. Net of Center City RDA tax
increment available to the General Fund, the value of one mill at 95 percent is $28.1 million.
MAXIMUM MILLAGE DETERMINATION
For FY 2016/17, the proposed operating millage rate for general City operations is 5.7092,
which is equivalent to FY 2015/16. Based on the July 1, 2016, Certification of Taxable
Value, 5.7092 mills would generate approximately $160,779,000 in general fund tax
revenues, an increase of $17,618,000 over FY 2015/16 budgeted property tax revenues
Citywide (net of City Center RDA).
FY 2016/17 Proposed Millage Rate
July 13, 2016
Page 6
Further, the January 1, 2015, tax roll Citywide declined by $777.8 million between the July
1, 2015 valuation and the July 1, 2016 valuation due to appeals, adjustments, etc., which is
part of the reason that the FY 2016/17 "rolled-back rate" is significantly less than the FY
2015/16 current millage rate. The value of the area outside of City Center RDA declined by
almost $436.9 million.
Further, pursuant to recently enacted State legislation, the City may elect to approve millage
rates above the roll-back rate up to the constitutional cap of 10 mills subject to the following
votes by the Commission or referendum:
• Option I: A majority of the approval of the Commission Millage is required to approve a
millage up to 6.3643 (equivalent to 3.75 percent increase in property tax revenues). The
1.0375 percent increase is the state per capita personal income gain for the prior
calendar year.
• Option II: A two-thirds approval (5 of 7 votes) of the Commission is required to approve a
millage up to 7.0007 (equivalent to a 10% increase in the ad valorem revenues above
Option I).
• Option III: A unanimous approval of the Commission or referendum is required to
approve a millage above 7.007 up to the 10 mill cap
The proposed operating millage rate of 5.7092 therefore requires a majority approval (4 of 7
votes) of the Commission.
DETERMINING THE VOTED DEBT SERVICE MILLAGE LEVY
The general obligation debt service payment for FY 2016/17 is approximately $5.9 million.
Based on the July 1, 2016 Certified Taxable Value from the Property Appraiser, these bonds
would require the levy of a voted debt service millage of 0.1796 mills. This represents a
decrease of 0.0235 mills.
COMBINING THE OPERATING AND VOTED DEBT SERVICE MILLAGE LEVIES
Illustrated below is a comparison of the combined millage rates and ad valorem revenues to
the City of Miami Beach for FY 2015/16 and FY 2016/17 (preliminary) including RDA.
From
FY 15/16 FY 16117 Incl(Dec) FY15116
City of Miami Beach Millage Rates
Operating Millage 5.7092 5.7092. 0.0000 0.0%
Debt Service 0.2031 0.1796, -0.0235 -11.6%
Total! 5.9123 5.88881 -0.0235 -0.4%
If these recommended millage rates are tentatively adopted, then the City of Miami Beach's
total operating millage will decrease to the lowest rate in at least 18 years.
FY 2016/17 Proposed Millage Rate
July 13, 2016
Page 7
IMPACT OF JULY 13th PROPOSED MILLAGE LEVY IMPACT ON PROPERTY OWNERS
Homesteaded Properties
Amendment 10 to the State Constitution took effect on January 1, 1995 and limited the
increase in assessed value of homesteaded property to the percentage increase in the
consumer price index (CPI) or three percent (3%), whichever is less. For 2015, the CPI has
been determined to be 0.7 percent and therefore, the increase is capped at 0.7% for
increased values as of January 1, 2016.
Overall, based on the homesteaded properties in the January 1, 2015 homestead values as
of July 1, 2015 valuation, the median value of homesteaded property in Miami Beach for
2014 was $155,690, and the average $383,781. Applying the increase to the market value
of all existing homesteaded properties from the 2015 tax roll, and the 0.7 percent CPI
adjustment, the impact of the millage rate adjustment to homesteaded properties would be
as shown in the following table.
Homesteaded Properties
FY 2016/17
FY 2015116 with 0.7•/CPI
Median I Average Median I Average
2015 Preliminary Taxable Value $ 155,690 I $ 383,782 $ 156,780 $ 386,468
City of Miami Beach
Operating $ 889 '$ 2,191 $ 895 $ 2,206
Voted Debt 32 78 28 69
Total Miami Beach $ 921 $ 2,269 $ 923 $ 2,275
$Change in Taxes
Operating $ 6 $ 15
Voted Debt (4) (9)
Total Miami Beach $ 2 $ 6
Source:Miami-Dade County Property Appraiser's-2015-average-median-homestead-residential-
values file
Historical Perspective
It is important to remember that in prior years, the City of Miami Beach significantly reduced
tax rates as property values increased. Between FY 1999/00 and FY 2009/10, property tax
rates declined approximately 2.8 mills. In FY 2007/08 alone, the property tax rate declined
by approximately 1.8 mills, with annual savings to the average homesteaded property of
over $400. In addition, in FY 2005/06 and FY 2006/07, the City funded $200 and $300
homeowner dividends paid to homesteaded property owners in the City.
FY 2016/17 Proposed Millage Rate
July 13, 2016
Page 8
Property Value, Mil lage and Property Tax Levy
Millage Rates Tax Levy in millions) ,
General Fund
Total
Final/Revised Total (including S.
Taxable Taxable Combined Gneral Poinle,and
Taxable Values Properly Values Values Citywide Fund/RDA Total Tax Levy Renewal&
Chart (billions) (billions) Millage Millage including Debl• Replacement)
FY1997/98 $ 6.46 $ 6.40 9.2.100 7.4990 $ 57.45 $ 46.78
FY1998/99 $ 6.97 $ 6.87 8.9830 7.4990 $ 60.37 $ 44.66
FY 1999/00 $ 7.66 $ 7-54 8.6980 7.4990 $ 64.29 $ 47.36
FY2000/01 $ 8.37 $ 8.22 8.5550 7.3990 $ 69.08 $ 49.75
FY2001/02 $ 9.40 $ 9.22 8.3760 7.2990 $ 75.97 $ 54.37
FY2002/03 $ 10.56 $ 10.41 8.3220 7.2.990 $ 84.81 $ 61.05
FY2003/04 $ 12.09 $ 11.85 8.1730 7.2990 $ 95.39 $ 68.17
FY2004/05 $ 14.04 $ 13.86 8.1730 7.4250 $ 110.74 j $ 79.38
FY2005/06 $ 17.45 $ 17.15 8.0730 7.4810 $ 135.91 $ 111.69
FY2006/07 $ 22.74 $ 22.26 7.6730 7.3740 $ 168-38 $ 140.31
FY2007/08 $ 26.85 $ 26.14 5.8970 5-6555 $ 150.42. $ 125.33
FY2008/09 $ 26.90 $ 2.5-89 5-8930 5.6555 $ 150.59 $ 125.94
FY2009/10 $ 2.4.70 $ 23.24 5.9123 5.6555 $ 138.70 t $ 115.73
FY2010/I 1 $ 22.10 $ 20.97 6.5025 6.2155 $ 136.55 $ 112.14
FY201 1/12 $ 21.98 $ 2.0.75 6.4539 6.1655 $ 134.75 $ 1 1 1.29
FY2012/13 $ 23.07 $ 22.02 6.3477 6.0909 $ 139.10 $ 114.32'
FY2013/14 $ 24.661$ 23.64 6.1163 5.8634 $ 14326" $ 117.41'
FY2014/15 $ 27.10 $ 26.27 6.0237 5.7942 $ 155.101 $ 127.761
FY2015/16 $ 30.70 $ 29.92 59123 5.7092 $ 172.39 $ 143.161
FY2016/17 $ 34.69 5.8888 5.7092 $ 194.11 $ 160,771
Further, the proposed City of Miami Beach combined millage rate is the lowest it's been in at
least 18 years.
TOTAL COMBINED MILLAGE
1000)0
9.07(0
3.07(0 1 1 1 1 1 1 1 1
60707 1 1 1 1 1 1 1 1 1
5�(0 111111111 MIA 1111
m(01111111111111111111
2.0020 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1
(011 .11111111111111111
0000
90 99 W 01 02 03 04 05 06 07 08 09 10 II 11 13 14 15 16
fihnl YOUr
FY 2016/17 Proposed Millage Rate
July 13, 2016
Page 9
First Public Hearing
The first public hearing on the proposed operating millage rate and tentative budget for FY
2016/17 must be held no later than 80 days or earlier than 65 days from the start of the
TRIM calendar (July 1st). Other guidelines are: 1) The public hearing cannot be scheduled
on a Sunday or on those days utilized by Miami-Dade County or the Miami-Dade County
School Board for their public hearing; 2) If on a day other than Saturday, it must be held
after 5:00 P.M.; and 3) must be held immediately following discussion of the tentative
millage and budget of its principal taxing authority (City of Miami Beach).
Based on these guidelines, the first hearing must be held between September 3rd and
September 18th. These dates are unavailable for the following reasons:
September 4, 11, and 18 Sundays
September 5 Labor Day
September 7 Miami-Dade County School Board Public Hearing
September 8 Proposed date for Miami-Dade County Public Hearing
Of the remaining days, it is recommended that the first public hearing be set for
Wednesday, September 14, 2016 at 5:01 P.M., in the City Commission Chambers, City Hall,
1700 Convention Center Drive, immediately following the City of Miami Beach's public
hearing.
JLM/CGR
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