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RESOLUTION NO. 2006-26328
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, ADOPTING: 1) THE FINAL AD VALOREM
MILLAGE RATE OF 7.374 MILLS FOR GENERAL OPERATING PURPOSES,
WHICH IS TWENTY FIVE AND SIX TENTHS PERCENT (25.6%) GREATER
THAN THE "ROLLED-BACK" RATE OF 5.872 MILLS; AND 2) THE DEBT
SERVICE MILLAGE RATE OF 0.299 MILLS FOR FISCAL YEAR 2006/07.
WHEREAS, on September 6, 2006, the Mayor and City Commission tentatively adopted
the operating millage rate of 7.374 mills and the debt service millage rate of 0.299 mills for Fiscal
Year (FY) 2006/07; and
WHEREAS, the ad valorem millage rate of 7.374 mills for general operating purposes
exceeds the "Rolled-back" rate of 5.872 mills by twenty-five and six tenths percent (25.6%); and
WHEREAS, Section 200.065, Florida Statutes, requires that at the conclusion of the
second public hearing on the proposed tax rate and budget for FY 2006/07, the City Commission
adopt the ad valorem millage rates for operating purposes and debt service. This is accomplished
by publicly announcing the name of the taxing authority, the "Rolled-back" rate, and the millage
rates before adoption of the millage levy resolution.
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NOW THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND THE CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that pursuant to Section 200.065,
Florida Statutes, there is.hereby levied a tax for the Fiscal Year (FY) 2006/07, 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 7.374 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 of 7.374 mills exceeds the "Rolled-back" rate of 5.872 mills
by twenty five and six tenths percent (25.6%).
(b) For the purpose of providing payment on the principal and interest
portions of the General Obligation Bond Debt outstanding, the rate
assigned amounts to 0.299 mills.
David Dermer
ATTEST:
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CITY CLERK
Robert Parcher
APPROVED AS TO
FORM & lANGUAGE
& FOR EXECUTION
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COMMISSION ITEM SUMMARY
Condensed Title:
A resolution of the Mayor and City Commission of The City of Miami Beach, Florida, adopting: 1) the final
Ad Valorem Millage of 7.374 mills for general operating purposes, which is twenty five and six tenths
percent (25.6%) greater than the "Rolled-Back" Rate of 5.872 mills; and 2) the debt service millage rate of
0.299 mills for Fiscal Year 2006/07.
Ke Intended Outcome Su orted:
Ensure expenditure trends are sustainable over the long term
Improve the City's overall financial Health and maintain overall bond rating
Increase Communit Satisfaction with Cit Services
Issue:
Shall the Mayor and City Commission adopt the attached resolution which sets the final millage?
Item Summary/Recommendation:
The Proposed FY 2006/07 General Fund Operating Budget (Proposed General Fund Budget), net of the
Redevelopment Agency (RDA), totals $237.7million and reduces the overall combined millage rate from
8.073 to 7.673, an unprecendented reduction of 0.400 mills. It also includes 0.182 mills for Capital
Renewal and Replacement needs. In addition, the debt service payment for FY 2006/07 requires a tax rate
of 0.299 mills. This translates to a reduction in taxes paid to the City of Miami Beach by $30.75 for the
average homesteaded property owner and an overall annual savings of $15.15 based on rates proposed
by other taxing jurisdictions, while providing service enhancements to address the priorities of the
community and continuing structural changes.
Advisory Board Recommendation:
I
Financial Information:
Source of
Funds:
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OBPI
Financial Impact Summary:
City Clerk's Office Legislative Tracking:
I
ce MIAMI BEACH
AGENDA ITEM -.R 7 ~ l
DATE q-Zl-O(O
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MIAMI BEACH
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov
COMMISSION MEMORANDUM
FROM:
Mayor David Dermer and Members of the City Commission
Jorge M. Gonzalez, City Manager SJ-.....- ~
September 21, 2006 () 0
TO:
DATE:
SUBJECT:
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, ADOPTING: 1) THE FINAL AD VALOREM MILLAGE
RATE OF 7.374 MILLS FOR GENERAL OPERATING PURPOSES, WHICH IS
TWENTY FIVE AND SIX TENTHS PERCENT (25.6%) GREATER THAN THE
"ROLLED-BACK" RATE OF 5.872 MILLS; AND 2) THE DEBT SERVICE
MILLAGE RATE OF 0.299 MILLS FOR FISCAL YEAR 2006/07.
ADMINISTRATION RECOMMENDATION
The Administration recommends that the City Commission adopt the attached Resolution
which sets the following:
1) Final adopted millage rates for Fiscal Year (FY) 2006/07
General Operating
Capital Renewal & Replacement
Total Operating Millage
7.192 mills
0.182 mills
7.374 mills
( 7.299 last year)
(0.182 last year)
( 7.481 last year)
( 0.592 last year)
( 8.073 last year)
Debt Service
Total Millage
0.299 mills
7.673 mills
2) The final adopted combined millage rate of 7.673 mills is four tenths of a mill less
than the 8.073 combined millage rate for FY 2005/06. The tentatively adopted
operating millage rate for FY 2006/07 is 7.374 mills. State statute requires that we
advertise that this rate is 25.6 % greater than the "Rolled-back" rate of 5.872 mills.
The first public hearing on the tentative millage rates and budgets for FY 2006/07 was held
on September 6, 2006. The millage rates presented herein are those which were tentatively
adopted at the end of that first public hearing.
PROCEDURE
Florida Statutes 200.065 requires that at the conclusion of the second public hearing on the
proposed tax rate and budget, the City Commission proceed in the following specific
manner:
1. Adopt an ad valorem millage rate for FY 2006/07 operating purposes and debt
service. The statute requires the name of the taxing authority, the "Rolled-back" rate,
and the millage rates be publicly announced before adoption of the millage levy
resolution. Therefore, only the resolution title should be announced before adoption
of the millage resolution.
2. Adopt a general operating budget for FY 2006/07. Also included, are budgets for the
G.O. Debt Service, RDA Fund-Ad Valorem Taxes, Enterprise and Internal Service
Funds. This is accomplished by adopting a companion Resolution. (See
accompanying Agenda Item R7 A2).
CONCLUSION
The Administration recommends adoption of the attached Resolution which sets both final
operating and debt service millage rates for FY 2006/07.
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