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039-1999 LTC CITY OF MIAMI BEACH CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139 http:\\cLmiami-beach.fl.us L.T.C. No. 39-1999 LETTER TO COMMISSION February 12, 1999 TO: Mayor Neisen O. Kasdin and Members of the City C mission FROM: Sergio Rodriguez City Manager SUBJECT: ST A TE CONSTITUTIONAL AMENDMENT 3 HOMESTEAD TAX EXEMPTION ADDITIONAL On November 3, 1998, Florida voters unanimously passed an amendment to the Florida Constitution that will grant an additional Homestead Exemption to qualified resident homeowners. Specifically, the Amendment authorizes the legislature to allow counties and municipalities to grant an additional homestead tax exemption not exceeding $25,000 to persons 65 years of age or older whose annual household income does not exceed $20,000. This amendment is not self-executing, but requires general law implementation by the legislature. If the legislature enacts implementing legislation, the general law must require the local government to adopt the increased exemption by ordinance. Although Amendment 3 took effect January 1, 1999, it requires legislative and local implementation before the exemption can be claimed by residents. The City of Miami Beach can pass an ordinance once an implementing bill is passed during the 1999 State Legislative Session. If the City chooses to pass the ordinance, it would have an economic impact on the City of Miami Beach. The City has contacted Miami-Dade County to determine the potential extent of this impact. Based on the attached figures submitted by Miami-Dade County, the potential effect would be to 4,814 homeowners with a revenue impact as low as $360,974 or as high as $809, 967, depending on the level of the additional exemption granted which can range between $10,000 to $25,000. As more information concerning this legislation becomes available, I will forward it to your attention. SR:CMC#DJ:RM:AQ (1I1C-~ Attachment ole>;oll t.-LI.. JU;:,J I ":.\JUJJ ., UtL !:'HU1Ul.UL l.\l'L TRADE ~OO2 - ,- .J7- ... -, I":S~ ~$20'~997 ". .....-=-_. Revenue Effect At Given Exemption Value CrrY ,OPERA~G.* Exemption Value Operating OWners 10,000 15,000 20,000. - Jurisdiction 2S,000 :I Miami 0.0095995 10,422 1, COO,484 1,500,726 2.000,968 2,501,210 i: .... Miami Beach . 0.0074990 4,814 360,974 541,460 721,947 902.434 Coral Gables 0.0055090 914 50,377 75,565 100,754 115,942 . 251:SS. Hialeah 0.0074810 4,146 310,185 465,278 620,370 n5,463 1,550,92( Miami Springs 0.0069500 429 29,792 44,688 59,584 74,480, 148,9(j( North Miami 0.0079310 1,747 138,549 201,823 277,(1)7 346,371 692,74: North Miami Beach 0.0076000 1 ,867 141,902 212,854 283,805 354,756 709,51: Opa-Locka 0.009800) 320 31,355 47,033 62,711 78,388 156,77t South Miami 0.0065900 356 23,449 35,173 46,897 58,622 117,24: Homestead 0.0086816 657 57,014 85,521 114...Q28 142,534 285,06~ Miami'Shdte:r 0.0087400 399 34,834 52,251 69;668 87,086 174,171 Ba1 Ha.rbour 0.0033300 223 7,437 11,155 14,874 18,592 37,18t Bay Harbor Island 0.0048627 383 18,646 27,969 37,293 46,616 93,23: Surfside 0.0056030 289 16,172 24,258 , 32,344 40,430 80,861 West Miami 0.0084950 260 22,078 33,117' 44,156 5S,196 110,391 Florida. City 0.0071330 163 11,623 17,435 23,247 29,058 58,1l€ Bisca.yne Park 0.0087600 127 11,128 16,692 22,257 27,821 55,642 ElPortal 0.0077000 130 9,m 14,965 19,954 24,942 49,885 Golden Bea.clt 0.0087377 16 1,410 2,11~ 2,821 3,526 7}O52 Indian Creek: , . 0.0099600 '6 548 822 1,096 1,370 2,739 . ' Medley . 0.0079230 54. 4,273 6,409 8,545 10,681 . , 21,363 North Bay. Vma.ge' 0.9048870 i30 6,346 9,519 12,692 15,865 31,729 Key Bi.scayne .0.0036060 . 147 5,318 7,976 10,635 13,294 26,588 Sweetwater 0.0035316 224 7,912 11,868 15,824 1'9,780 39,559 Virginia Gardens 0.0032930 60 1,984 2,975 3,967 4,959 9,918 Hialeah Gardens 0.0076650 246 18,825 28,237 37,650 47,062 94,124 IsIandia 0.0091600 0 0 0 0 0 0 Unincorporated 0.00000oo 23 ,532 0 0 0 0 0 Ownen 52,060 Revenue Effect 2,322,591 3,483,887 4,645,182 5,806,478 11,612,956 ./ ..- , **mise millages not included (Miami DDA 0.5/1000 and Miami Beach 0.966/1000) . jr.srex2098. wks 1/8/98 11 :53 AM J 18:18 fA~ JU5~7~bUJ8 UtL ~rtUIULUL l~lL lKAll~ ~OO3 ~,~~ 1, 1997 MILLAGES ESTIMATED SAVINGS TO TAXPAyeR ALL MILLAGES EXCEPT SCHOOL BOARD, SO FLA WATER MGMT AND FIND Individual Taxpayer Savings At Given Exemption Value Exemption Value Applicable 1 ()(X)() 15000 20000 25 (XX) 50,tXXl Jurisdiction - Millage Miami 0.0187875 188 282 . 376 .,'1,470 939 Miami :aeach .;:0.0164780". 165 247 330' 412.j, . 824 Coral Gables 0.0127770 128 192 256 319 639 Hialeah 0.0144330 144 216 289 361 722 Miami Springs 0.0169430 169 254 339 424 847 North Miami 0.0187920 188 282 376 470 940 North Miami Beach 0.0182299 182 273 365 456 911 Cpa-Loeb. 0.0194770 195 292 390 487 974 South Miami - 0.0165830 166 249 - 332 -=-41 S 829 Homestead 0.0186746 187 280 373 467 934 Miami Shores 0.0184170 184 276 368 460 921 Bal Harbour 0.0130070 130 195 260 325 650 Bay Harbor Island 0.0145397 145 218 29f 363 727 Surfsidc 0.0152800 153 229 306 382 764 West Miami 0.0184880 185 277 370 462 924 Florida City 0.0171260 171 257 343 428 856 Biscayne Park 0.0187530 188 281 375 469 938 , El Portal . 0.0176930 177 265 354 442. 885 . Golden BeaCh 0.0187307 , 187 281 375 -468 937 Indian C~ - ' ..0.0199530 . 200' 299 399 499 998 : Medley , . .0.0179160 179 269 358 448 896 North Bay Village 0.0155060 155 233 310 388 ns Key Biscayne 0.0108740 109 163 217 272 544 Sweetwater 0.0135246 135 203 270 338 676 Virginia Gardens 0.0132860 133 199 266 332 664 Hialeah Gardens 0.0176580 177 265 353 441 883 Islandia. 0.0164280 164 246 329 411 821 Unincorporated 0.0126760 127 190 254 317 634 jr.srex2098.wks 1/7/986:34 PM ~ 18:18 F~X 305372GQJ9 OFC PROTOCOL I\TL TRADE I4J 00,1 Income to $15 ,000 1997 Revenue Effect At Given Exemption Value CITY,OPERATING'" Exemption Value Jurisdiction Operating Owners 10,000 15,000 20,000 25, 0Cl0 50,000 Miami O. <XJ9599S 9,329 895,520 1,343,280 1,791,040 2,238,800 4,477,600 Miami Beach 0.0074990 4,320 323,987 485,980 647,974 809,967 1,619,934 ' Coral Gables 0.0055090 687 37,837 56,756 75,675 94,593 189,187 Hialeah 0.0074810 3,538 264,682 391,023 529,365 661,706 1,323,412 Miami Springs 0.0069500 302 20,982 31,473 41,964 52A55 104,910 Nonh Miami 0.0079310 lA44 114,499 171,749 228,998 286,248 572,495 North Miami Beach 0.0076000 1,455 110,580 165,870 221,160 216,450 552,901 apa.Locka 0.0098(0) 298 29, 177 43,765 58,353 72,942 145,884 South Miami 0.00659(X) 317 20,880 31,320 41,760 52,200 1 04,400 Homestead 0.0086816 576 50,026 75,039 100,052 125,064 250,129 Miami Shores' ~ 0.0087400 ' 307 26,863 40,295 53 ,7'l!t- 67,159 134,317 Bal Harbour 0.0033300 184 6,123 9,185 12,247 15,309 30,617 Bay Harbor Island 0.0048627 314 15,273 22,910 30,547 38,183 76,367 Surfside 0.0056030 229 12,818 19,228 25,637 32,046 64,092 West Miami 0.0084950 194 16,516 24,774 33,032 41,290 82,581 Florida City 0.0071330 158 11,282 16,923 22,564 28,205 56,410 Biscayne Park 0.0087600 83 7,270 10,905 14,541 18,176 36,351 El Portal O.OO77CXX> 104 7,981 11,972 , 15,963 19,954 39,907 Go1d~ Beach 0.0087377 9 769 1,1S4 1,539 1,923 3,846 Indian Creek 0.0099600 ,4 398 59'8 797 996 1,992 Medley , 0.0079230 37 2,919' 4,379 S,839 ' 7,299 14~S97' 'North' Bay ViJlage . 0.0048870 ,89 ' 4',349 6,524 8,698 10,873 21,746 . Key Biscayne ,0.0036060 ' 120 '4,340 6,509 8,679 10,849 21,698 Sweetwater 0.0035316 193 6,822 10,232 13,643 17,054 34,108 Virginia Gardens 0.0032930 41 1,338 2,007 2,671 3,346 6,691 Hialeah Gardens 0.0076650 198 15,193 22,789 30,385 37,981 75,963 lslandia 0.CXJ91600 0 0 0 0 0 0 Unincorporated O.o:xxxro 0 0 0 0 0 0 OWners 24,530 Revenue Effect 2,008,427 3,012,641 4,016,854 5,021,068 10,042,136 "mise millages not included (Miami DDA 0.5/1000 and Miami Beach 0.966/1000 ) jr.srex1598. wks 1/8/98 11:50 AM H