Resolution 2025-33934 RESOLUTION NO.
2025-33934
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, ADOPTING: 1) THE TENTATIVE AD VALOREM
MILLAGE OF 5.8702 MILLS FOR FISCAL YEAR 2026 FOR GENERAL
OPERATING PURPOSES, WHICH IS SIX AND FIVE TENTHS PERCENT (6.5%)
MORE THAN THE "ROLLED-BACK" RATE OF 5.5114 MILLS; AND 2) THE
DEBT SERVICE MILLAGE RATE OF 0.2779 MILLS, SUBJECT TO A SECOND
PUBLIC HEARING TO CONSIDER THE MILLAGE RATE FOR FISCAL YEAR
2026 ON TUESDAY, SEPTEMBER 30, 2025, AT 5:01 P.M.
WHEREAS, on July 23, 2025, the Mayor and City Commission adopted Resolution No.
2025-33844 that set the proposed Fiscal Year (FY) 2026 General millage rate at 5.8702 milis for
general operating purposes, which is 0.0180 mills more than the adopted FY 2025 General
millage rate of 5.8522 mills, and 0.2779 mills for debt service, which is 0.0180 mills less than the
adopted FY 2025 debt service millage of 0.2959 mills that is necessary to fund the required annual
debt service for the Series 2019 General Obligation (G.O.) Bonds, as well as the Series 2023
A&B Arts and Culture G.O. Bonds, that were approved by the voters on November 6, 2018 and
November 8, 2022, respectively; and
WHEREAS, the General millage rate of 5.8702 mills proposed for FY 2026 is comprised
of an Operating millage rate of 5.6636 mills that funds operating costs in the General Fund, a
Capital Renewal and Replacement (CRR) millage rate of 0.0912 mills that provides a dedicated
source of funding for renewal and replacement projects that extend the useful life of General Fund
capital assets, and a Capital Pay-As-You-Go (PayGo) millage rate of 0.1154 mills that provides a
dedicated source of funding for General Fund capital projects; and
WHEREAS, Section 200.065, Florida Statutes, requires that at the conclusion of the first
public hearing on the City's proposed millage rate and budget, the City Commission: 1) adopt a
tentative ad valorem millage rate for FY 2026 general operating purposes; and 2) adopt the
required debt service millage rate for FY 2026; this is accomplished by adopting a Resolution
which includes the percentage increase or decrease over the "rolled-back" rate; and
WHEREAS, at this time, it is recommended that the City Commission set the second and
final public hearing to consider the aforementioned millage rates for FY 2026.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND THE CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, as follows:
(1) Pursuant to Section 200.065, Florida Statutes, there is hereby levied a tax for FY 2026
on all taxable and non-exempt real and personal property located within the corporate limits of
the City of Miami Beach, Florida, as follows:
(a) For the purpose of operating the government of the City, the rate assigned
amounts to 5.8702 mills. Also included are appropriate reserves and
contingencies, which are not limited to reserves for tax discounts and
abatements of uncollected taxes.
The millage rate reflected is six and five-tenths percent (6.5%) more than
the "Rolled-back" rate of 5.5114 mills.
(b) For the purpose of providing payment on the principal and interest
portions of outstanding General Obligation (G.O.) Bond Debt and
miscellaneous debt service expenditures, the rate assigned amounts to
0.2779 mills.
(2) The tentatively adopted millage rates for the City of Miami Beach, Florida, for FY 2026
are subject to a second and final public hearing, herein set for and to be held on Tuesday,
September 30, 2025, at 5:01 p.m., in the City Commission Chambers at 1700 Convention Center
Drive, 3�d Floor, Miami Beach, Florida 33139.
PASSED AND ADOPTED this �1 day of �! /y/�7Gr , 2025.
ATTEST:
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Rafael . Granado, Cit Clerk _="ni��E;y��
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APPROVED AS TO
FORM &LANGUAGE
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City orney Date
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Resolutions - R7 C
MIAMIBEACH
COMMISSION MEMORANDUM
TO: Honorable Mayor and Members of the City Commission
FROM: Eric Carpenter, City Manager
DATE: September 17, 2025 5:01 p.m. First Reading Public Hearing
TITLE: A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, ADOPTING: 1) THE TENTATIVE AD VALOREM
MILLAGE OF 5.8702 MILLS FOR FISCAL YEAR 2026 FOR GENERAL OPERATING
PURPOSES, WHICH IS SIX AND FIVE TENTHS PERCENT (6.5%) MORE THAN
THE "ROLLED-BACK" RATE OF 5.5114 MILLS; AND 2) THE DEBT SERVICE
MILLAGE RATE OF 0.2779 MILLS, SUBJECT TO A SECOND PUBLIC HEARING
TO CONSIDER THE MILLAGE RATE FOR FISCAL YEAR 2026 ON TUESDAY,
SEPTEMBER 30, 2025, AT 5:01 P.M.
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) Tentatively Adopted Millage Rates for Fiscal Year(FY) 2026:
Operating Millage 5.6636 mills
Capital Renewal 8� Replacement Millage 0.0912 mills
Pay-As-You-Go (PayGo) Millage 0.1154 mills
Total General Millage 5.8702 mills
Voted Debt Service Millage 0.2779 mills
Total Combined Millage 6.1481 mills (same as last vear)
2) The second public hearing to consider the final millage rates and budgets for FY 2026
shall be held on Tuesday, September 30, 2025, at 5:01 p.m., in the City Commission
Chambers at 1700 Convention Center Drive, 3�d Floor, Miami Beach, Florida 33139.
BACKGROUND/HISTORY
Florida Statutes, Section 200.065, requires that at the first public hearing on the proposed millage
rate and budget, the Mayor and City Commission proceed in the following specific manner:
1. Adopt a tentative ad valorem millage rate for FY 2026 general operating purposes. This is
accomplished by adopting a Resolution which includes the percentage increase or
decrease over the "rolled-back" rate; the required debt service millage rate; and, the date,
time, and place of the second public hearing.
State statute requires that only the title be read aloud.
2. Adopt a tentative general operating budget for FY 2026, which includes the budgets for
the General, Enterprise, Internal Service, Special Revenue, and General Obligation (G.O.)
Bond Debt Service Funds, as well as the City's Tax Increment Financing (TIF) portion of
the City Center Redevelopment Area and North Beach Community Redevelopment Area.
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This is accomplished by adopting two companion Resolutions (see accompanying City
Budget Agenda Items).
Both the millage and budget Resolutions must be adopted again after a second and final public
hearing.
ANALYSIS
On July 1, 2025, the City received the 2025 Certified Taxable Values from the Miami-Dade County
Property Appraiser. As summarized below, the City's overall taxable property values increased
approximately $3.9 billion, or 6.9%, from the 2024 Certified Taxable Values of$56.4 billion to the
2025 Certified Taxable Values of$60.3 billion, which included a $2.9 billion, or 5.1%, increase in
the City's existing values and a $1.0 billion increase in new construction values. Within the overall
increase, however, property values within the City Center Redevelopment Area and the North
Beach Community Redevelopment Area increased by 2.7% and 3.7%, respectively, compared to
the previous year.
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Property Values:
Existing Values �,56.396 947 099 $59,251,456,909 �2,854,509.810 5.1%
New Construction - 1,048,123,655 1,048,123,655 100.0%
Total Citywide 556,396,947,099 560,299,580,564 33,902,633,465 6.9%
Ciry Center Redevelopment Area $6,709,447,439 $6,893,643,464 $184,196,025 2.7%
North Beach Communiry Redevelopment Area 1,844,424,002 1,913,319,827 68,895,825 3.7%
7otal Citywide—Net of RDA 8 CRA 547,843,075,658 551,492,617,273 ;3,649,541,615 7.6%
PROPOSED MILLAGE RATE
There are two (2) main components to the City's Total Combined millage rate, which are the
General millage rate and the Voted Debt Service millage rate. The General millage rate, which is
comprised of an Operating, Capital Renewal and Replacement (CRR), and Capital Pay-As-You-
Go (PayGo) millage, funds General Fund operating and capital expenditures, while the Voted
Debt Service millage rate funds the annual debt service for outstanding General Obligation (G.O.)
bonds.
The General millage rate proposed for FY 2026 of 5.8702 mills provides funding to offset
increases in personnel costs, such as the City's annual required pension contributions, a five (5}
and four (4) percent (%) step increase (where applicable) for all Fraternal Order of Police (FOP)
and International Association of Fire Fighters (IAFF) positions and a 0-3% performance-based
merit increase for all other positions, an increase in the City's health insurance premiums for
active employees and retirees, as well as increases in other General Fund operating expenditures
and dedicated funding for General Fund capital projects.
Unfunded Capital Needs
As presented at the Finance and Economic Resiliency Committee (FERC) Budget Briefings on
June 13, 2025 and July 11, 2025, the City's FY 2026-2030 Capital Improvement Plan (CIP)
reflected over$1.2 billion of unfunded capital project needs over the next five (5) years.
In an effort to meet the City Commission's goal of funding 5% of the annual General Fund
operating budget for capital needs in accordance with Resolution No. 2006-26341, the
Administration at the July 11, 2025 FERC Budget Briefing recommended realigning the reduction
in the required Voted Debt Service millage rate of 0.0114 mills to the City's dedicated CRR and
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PayGo millage rates. This adjustment resulted in an estimated additional $0.6 million allocated to
dedicated CRR and PayGo in FY 2026.
In addition, based on the finalization of the City's Annual Comprehensive Financial Report(ACFR)
for the fiscal year ending September 30, 2024 (FY 2024), approximately $0.3 million in prior year
fund balance in the General Obligation (G.O.) Debt Service Fund is available for appropriation. At
the July 11, 2025 FERC Budget Briefing, the Administration recommended that the available
funding be appropriated in FY 2026 that would further increase the reduction in the Voted Debt
Service millage rate for FY 2026 by 0.0066 mills, from 0.0114 mills to 0.0180 mills, and realign
the additional decrease in the Voted Debt Service millage to the City's dedicated PayGo millage
rate. This resulted in an estimated additional increase in dedicated PayGo funding of
approximately $0.3 million.
The Total Combined millaqe rate proposed for FY 2026 would remain flat at 6.1481 mills,
as summari2ed in the table below.
These, along with other recommendations to allocate additional funding for capital in the FY 2026
budget that were approved by the FERC at the July 11, 2025 Budget Briefing moves the budget
closer to the City Commission's goal of funding 5% of the annual General Fund operating budget
for capital needs, from approximately $15.0 million, or 3.3%, in FY 2025 to $19.8 million, or
4.1%, of the proposed FY 2026 General Fund budget. With these additional capital dollars, the
Administration recommended funding the most critical unfunded capital project needs that were
also approved by the FERC at the July 11, 2025 Budget Briefing.
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Operating S.E;r_.s�; ; 5.6r:.,�_� � 0.0000
Capital Renewal 8 Replacement (CRR) 0.0866 O.O.ri12 0.0046
Capital Pay-As-You-Go (PayGo) 0.1020 0.1154 0.0134
Total General Millage 5.8522 5.8702 0.0180
Voted Debt Service 0.2959 0.2779 (0.0180)
Total Combined Millage 6.1481 6.1481 0.0000
IMPACT OF PROPOSED MILLAGE LEVY IMPACT ON PROPERTY OWNERS
Homesteaded Properties
In 1992, voters approved an amendment to the Florida Constitution known as Amendment 10,
also known as Save Our Homes (SOH). SOH is an assessment limitation, or "cap," on increases
in the assessed taxable ��alue of a homesteaded residence. TF;ose increases are limited to 3.0%,
or the percent change in the CPI (Consumer Price Index), whichever is less. The "cap" goes into
effect beginning the year after a homestead exemption is granted.
In addition, on November 5, 2024, voters approved an amendment (Amendment 5), modifying
the Florida constitution to adjust one of the two $25,000 homestead property tax exemptions
annually for inflation, starting in 2025. This means the exemption amount will increase each year
based on the Consumer Price Index (CPI).
Based on last year's taxable property values from the Miami-Dade County Property Appraiser as
of July 1, 2024, the median homesteaded property value in the City was $290,600 while the
average homesteaded property value was $837,571. For an existinq homesteaded propertv in
the City that was not sold and/or did not have anv improvements or additions completed in the
last vear the impact of the Citv's Total Combined millaQe rate of 6.1481 mills proqosed for FY
2026 would result in an increase of approximatelv $51 for a median homesteaded propertv, while
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the impact for an averaqe homesteaded propertv would be $149 pursuant to the SOH cap that is
2.9% for the current year.
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Preliminary Taxable Value' v $190,600 $837,571 5299,027 E861,861
City of Miami Beach:
General $1,701 $4,902 $1,755 $5.059
Voted Debt 86 248 83 240
Total Miami Beach 51,787 55,150 ;1,838 55,299
$Changes in Taxes:
General E54 a157
Voted Debt (3) (8)
Total Miami Beach S51 ;149
`Source: Miamr-Dade County PropeRy Appraiser's-2024 average-median-homestead-residential-
values frles
Non-Homesteaded Properties
The annual increase in the assessed taxable value of a non-homesteaded property is capped �t
10% (excluding the School Board portion). While the average citywide increase in property values
is 6.9%, the value of some individual properties may increase up to, but not more than 10%
(excluding the School Board portion of the property tax bill). However, an individual property
owner may see an increase of more than 10% if there is a change in ownership of a capped
property resulting in a reset of the cap. Another factor, if applicable, would be the value of new
construction which can contribute to a property value increase of more than 10%.
OVERLAPPING MILLAGE RATES
Property owners in the City of Miami Beach also pay property taxes that are levied by Miami-
Dade County, the Miami-Dade County School Board, the Children's Trust, the South Florida
Water Management District, Okeechobee Basin, Everglades Project, and the Florida Inland
Navigational District (FIND). For FY 2026, these taxing authorities represent 67.3% of a Miami
Beach property owner's ad valorem tax bill.
The proposed FY 2026 countywide and library millage rates for Miami-Dade County remained flat
at 4.5740 mills and 0.2812 mills, respectively, while the debt service millage rate for Miami-Dade
Counry decreased by 0.0100 mills from 0.4271 to 0.4171 mills. The millage rate for the Miami-
Dade School Board increased by 0.0310 mills from 6.6020 to 6.6330 mills. The Children's Trust
millage rate decreased by 0.0362 mills from 0.5000 to 0.4638 mills. The millage rates for the
South Florida Water Management District, Okeechobee Basin, Everglades Project, and Florida
Inland Navigational District, combined, remained flat at 0.2589 mills.
Based on the rates proposed for FY 2026, the Miami Beach portion of the ad valorem tax bill is
approximately 32.7°/o of the total ad valorem tax bill. It is important to note that Miami-Dade
County's total combined millage rate proposed for FY 2026 of 5.2723 mills is 1.1137 mitls, or
17.4%, less than Miami-Dade County's total FY 2007 millage rate of 6.3860 mills, and the School
Board's millage proposed for FY 2026 of 6.6330 mills is 1.4720 mills, or 18.2%, less than the FY
2007 School Board millage of 8.1050 mills.
By comparison, the City's total combined millaqe rafe of 6.?481 mifls proposed for FY 2026 that
is 1.5249 mills, or 19.9%. less than the Citv's total FY 2007 millaqe rate of 7.6730 mills. These
differences are a direct result of the City's continuing effort to keep millage rates as low as
possible.
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A summary of the proposed millage rate changes by taxing authority is provided in the table below.
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City of Miami Beach
Operating 7.1920 30.8% 5.6636 5.6636 (1.5284) 0.0000 30.2%
Renewal&Replacement 0 1820 0.8% 0.0866 0.0912 (0.0908) 0.0046 0.5%
Pay-As-You-Go Capital 0.0000 0.0% 0.1020 0.1154 0.1154 0.0134 0.6%
General Millage 7.3740 31.6% 5.8522 5.8702 (1.5038) 0.0180 31.3°�
Voted Debt Service 0.2990 1.3% 0.2959 0.2779 (0.0211) (0 0180) 1 5°/>
Subtotal 7.6730 32.9% 6.1481 6.1481 (1.5249) 0.0000 32.7%
Miami Dade County
Countywide 5.6150 24.1% 4.5740 4.5740 (1.0410) 0.0000 24.4%
Library 0.4860 2.1% 0.2812 0.2&12 (02048) 0_0000 1.5%
Debt Service 0.2850 1.2% 0.4271 0.4171 0.1321 (0 0100) 2 2°�
Subtotdl 6.3860 27.4% 5.2823 5.2T23 (1.113T) (0.0100) 28.1°k
School8oard 8.1050 34.8% 6.6020 6.6330 (i.4720) 0.0310 35.3%
Children's Trust 0.4223 1.8% 0.5000 0.4638 0.0415 (0.0362) 2.5%
Other 07355 32°/ 0.2589 0.2589 (0.4766) 0.0000 1.4%
Total 23.3218 1�.O�o 18.7913 18.7761 (4.5457) (0.0152� 100.0%
IMPACT OF COMBINED TAX RATES ON HOMESTEADED PROPERTIES
Based on last year's values from the Miami-Dade County Property Appraiser as of July 1, 2024,
the median homesteaded property value in the City of Miami Beach was $290,600 while the
average homesteaded property value was $837,571. Applying the millage rates proposed for FY
2026 for all taxing authorities to the median and average homesteaded values for an existinq
homesteaded property in the CitY of Miami Beach that was not sold and/c� did not have any
improvements o�additions completed in the last year results in a combined property tax increase
of approximately $152 for the median and $443 for the average homesteaded property in the City
of Miami Beach.
A median value homesteaded property would pay approximately $5,614 for all taxing authorities
combined, while an average value homesteaded property would pay approximately $16,183
combined. Of the taxing authorities, the highest component is the Miami-Dade School Board at
$1,983 for a median value homesteaded property and $5,717 for an average value homesteaded
property in the City of Miami Beach, which represents approximately 35.3% of the total combined
tax bill.
The following table provides a summary of changes in the property taxes levied for an existinq
homesteaded property that has not been sold and/or had any imqrovements or additions
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completed in the last vear using the millage rates that are proposed for FY 2026 by taxing
authority.
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s�.�. s �_.��y :.ax t..€. '' < <. $290,600 E837,�7; $299 ;e; $861,861
C�ry of M�am� Beach:
General $1,701 $4,902 $1,755 $5,059
Voted Debt 86 248 83 240
Total Miami Beach s1,787 E5,150 51,838 55,299
Miami-Dade County $1.535 S4,424 51,577 ;4,544
Miami-Dade School Board 1,919 5.530 i.983 5,�i�
Other 221 636 216 623
Total Combined 55,462 515,740 55,614 576,183
$Chanqes in Taxes:
City of Miami Beach
General $54 $157
Voted Debt (3) (8)
Total Miami Beach S51 5149
Miami-Dade County $42 $120
Miami-Dade School Board 64 187
Other (5) (13)
Total Combined 5152 s443
'Source Miami-Dade County PropeRy Appraiser's-2024-average-median-homestead-residential-values file
As with the City of Miami Beach millage rates, the impacts of the combined millage rates for other
taxing authorities on non-homesteaded properties are based on individual property values.
Historical Perspective
The table below outlines the City's historical millage rate trend. For FY 2026, the Citv's Total
Combined millaqe rate is proposed to remain flat at 6.1481 mills, which is the same rate adopted
for FY 2025.
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Millaqe Rate History
6.6000 6 4539
6 3477
6.400�
0.2884
6200U 0.2568 h.1163 6.1481 61481 6.1481
0 1083 6 0237 6.0221 6.0515 6 0515 6.'?5i 5
6.0000 0.1083 0.2529 +�'23 5 At3A8 5 8888 5 ASnn 0.3326 0.2959 0.2779
0.2295 0.3227 0.2889 0.2360
0.2933
5.80n' �1083 02031 0.1796 0.166A 0.1800
0 1083 0�0 Q.1519 0.1519 0.1886 0.2066
0.708J 0 0990 0 0990 O.O�JO
S.60o�
•.9
5.400(;
a�i.c ;�. ,,:
5.2000
5.0000
FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY
2012 2013 2014 2015 2016 2017 2018 2019 2020' 2021 2022 2023 2024" 2025 2026
■Operating Millage Capital Millage(PayGo&CRR)
�Voted Debt Service(G.O. Bonds)
`Irirrr�t�e l�t F1 _'0_'�)rrtillu,�e uttrihtued ro issuuncc•uJ Trunc'ha•!lSerres_'�l9/uJ C;enrru/Obli�;ution(G.O.I Bonds upprored hr rhe
vnt��r,c cm.A'ovc�mber h.?018
■rincrense in FY?0_'�miUuge«nrihtile�d!u iss��u�tce u1 Trunchr l/Senrs_'�)?3.4��R1 o/:Irl.s r�ncl('tdhtre IG.Q I Bond-�up/�ror��d nr�he
roli°rs ort.�'orember cY. 2/I"
TRUTH-IN-MILLAGE PROCESS
Florida Statute 200.065, entitled "Method of Fixing Millage," establishes specific guidelines that
must be used by all local government entities in setting its 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, 2025), to advise the Miami-Dade County Property Appraiser of the Total General
millage rate proposed, the calculated "rolled-back" rate, and the date, time, and place of the first
public hearing to consider the proposed millage rates and budgets for FY 2026. The required
Voted Debt Service millage rate rr�ust also be set at the same time as the Total General millage
rate.
Maximum Millage Determination
After setting the proposed millage rates, the Mayor and City Commission may, at any time prior
to fina� adoption, lower the proposed millage rates. However, increasing the proposed millage
rates may only be accomplished by completing an expensive mailing and advertising process to
every property owner in the City of Miami Beach. The City's proposed millage rates, as well as
those of other taxing authorities, will be ir�cluded in the Truth-in-Millage (TRIM) notice sent to each
property owner in the City of Miami Beach by the Miami Dade County Property Appraiser by
August 24, 2025.
For FY 2026, the Total General millage rate is proposed at 5.8702 mills. Based on the 2025
Certified Taxable Values received from the Miami-Dade County Property Appraiser as of July 1,
2025, the levy proposed, which includes the recommended realignment of the reduction in the
Voted Debt Service millage to the City's dedicated CRR and PayGo millage rates, would generate
approximately $299.6 million in General Fund property tax revenues, which is an increase of
approximately $21.4 million over the budgeted FY 2025 General Fund property tax revenues of
$278.2 million (this excludes the City Center Redevelopment Area and North Beach Community
Redevelopment Area).
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Adoption of the Total General Operating millaqe rate of 5.8702 mills proposed for FY 2026
therefore, requires a two-thirds approval (5 of 7 votes) bv the Mavor and Citv Commission per the
State of Florida's Truth-in-Millaqe (TRIM) requirements.
The proposed miliage rates were certified to the Miami-Dade County Property Appraiser and are
included in the TRIM notices mailed by the Miami-Dade County Property Appraiser. The purpose
of the TRIM notice is to notify property owners of how much their property taxes could potentially
increase or decrease, and which governmental entity is responsible for the taxes levied.
The millage rates proposed effectively set the "ceiling" for the millage rates during the budget
process because they cannot be increased without sending out a new TRIM notice to all property
owners in the City of Miami Beach. However, the millage rates can remain the same or be
decreased throughout the remainder of the budget process until the millage rates are adopted by
the Mayor and City Commission at the second and final public hearing.
Second Public Hearinq
The second public hearing to adopt the final millage rates and budgets for FY 2026 must be held
no later than 100 days, or earlier than 97 days, from the start of the TRIM �alendar (July 15'). In
addition, it must be advertised no later than 15 days after the first public hearing and must be held
two (2) to five (5) days after the advertisement appears in the newspaper.
For this reason, the second public hearing is recommended to be held on Tuesday, September
30, 2025, at 5:01 p.m., ir the City Commi�sion Chambers at 1700 Convention Center �rive, 3'd
Floor, Miami Beach, Florida 33139.
FISCAL IMPACT STATEMENT
See the information provided abc,��.
Does this Ordinance require a Business Impact Estimate?
(FOR ORDINANCES ONLY)
If applicable, the Business Impact Estimate (BIE) was published on:
See BIE at: https://www.miamibeachfl.qov/city-hall/citv-clerk/meetinq-�ctices/
FINANCIAL INFORMATION
See the information provided above.
CONCLUSION
The Administration recommends that the Mayor and City Commission adopt the attached
Resolution, which tentatively adopts the Total General and Voted Debt Service millage rates for
FY 2026 at 5.8702 mills and 0.2779 mills, respectively, and sets the date, time, and place of the
second and final public hearing to be held on Tuesday, September 30, 2025, at 5:01 p.m., in the
City Commission Chambers at 1700 Convention Center Drive, 3�d Floor, Miami Beach, Florida
33139.
EC/JDG/TOS/RA
Applicable Area
Citywide
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Is this a "Residents Riqht to Know" item, Is this item related to a G.O. Bond
pursuant to Citv Code Section 2-17? Proiect?
Yes No
Was this Aqenda Item initially requested bv a lobbyist which, as defined in Code Sec. 2-481,
includes a principal enAaqed in lobbvina? No
If so, specify the name of lobbyist(s) and principal(s):
Department
Management and Budget
Sponsor(s)
Co-sponsor(s)
Condensed Title
5:01 p.m. 1st Rdg PH, Adopt Tentative Ad Valorem Millage for Gen. Operating Purposes. OMB
Previous Action (For Citv Clerk Use OnIY�
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