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Res No 130-18-15163RESOLUTION NUMBER: _1_3_0_-_18_-_1_5_1_6_3_ A Resolution of the City of South Miami, Florida, relating to the City's 2018/2019 fiscal year budget; advising the Miami-Dade County Property Appraiser of its proposed millage rate of 4.3000 mills; its rolled-back rate of 4.0302 mills, and announcing the date, time and place of public hearing to consider the proposed millage rate and tentative budget. WHEREAS, Florida Statute 200.065 requires that within 35 days of receiving the Certificate of Value, each taxing authority shall advise the property appraiser of its proposed millage rate, its rolled-back rate computed pursuant to sub-section (I) and of the date, time and place when a pUblic hearing will be held to consider the proposed millage rate and tentative budget; and WHEREAS, the Certification of Value was made on June 29, 2018; and WHEREAS, the City's Administration computed the proposed millage rate and the rolled-back rate; and WHEREAS, the Mayor and City Commission wish to comply with the aforesaid Statute. NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA THAT: Section I. The City Administration shall advise the property appraiser that the proposed millage rate of the City of South Miami, Florida for the 2018/2019 fiscal year budget is 4.3000 mills which is a 6.69% increase over the rolled back rate and that the rolled-back rate, computed pursuant to sub-section (I) of Florida Statute 200.065, is 4.0302 mills. . Section 2. The date, time, and place of the first and second public budget hearings shall be held to consider the proposed millage rate and budget are as follows: First Budget Hearing, September 13, 2018 at 7:00 p.m., in the City Commission Chambers, 6130 Sunset Drive, South Miami, Florida. Second Budget Hearing, September 26, 2018 at 7:00 p.m., in the City Commission Chambers, 6130 Sunset Drive, South Miami, Florida. Section 3. Severability. If any section clause, sentence, or phrase of this resolution is for any reason held invalid or unconstitutional by a court of competent jurisdiction, the holding shall not affect the validity of the remaining portions of this resolution. Page 1 of2 Res. No. 130-18-15163 . Section 4. Effective Date. This resolution shall become effective immediately upon adoption by vote of the City Commission. PASSED AND ADOPTED this 17th day of ~, 2018. ATTEST: Page 2 of2 APPROVED: &i!~ MAYOR COMMISSION VOTE: 5-0 Mayor Stoddard: Yea Vice Mayor Harris: Yea Commissioner Gil: Yea Commissioner Liebman: Yea Commissioner Welsh: Yea City Commission Agenda Item Report Meeting Date: July 17, 2018 Submitted by: Alfredo Riverol Submitting Department: Finance Department Item Type: Resolution Agenda Section: ADD-ON ITEM(S) Subject: Agenda Item No:Ba. A Resolution of the City of South Miami, Florida, relating to the City's 2018/2019 fiscal year budget; advising the Miami-Dade County Property Appraiser of its proposed millage rate of 4.3000 mills; its rolled-back rate of 4.0302 mills, and announcing the dates of public hearing to consider the proposed millage rate and tentative budget. 3/5 (City Manager-Finance Dept.) . Suggested Action: Attachments: Millage Memo FY 19 FINAL.docx 2018-2019 Reso re notice to appraiser within 35 daysCArev W#s.docx TRIM (420, 420TIF, 420MM-P).pdf 2018-pre lim i nary-roll-change-by-prope rty-type. pdf 2018-year-to-year-com parison. pdf 2018-pre Ii m i nary-roll-by-taxi ng-authority. pdf 2018-pre lim i nary-se nior-exe m pti ons. pdf 2018-ave rage-and-median-homestead-reside nti ai-val ues. pdf 2016 Fiscal Impact of Extending Homestead Banding Between lOOk and 125k.pdf 1 THE CITY OF PLEASANT LIVING To: From: Copy: Date: Subject: Request: CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER-OFFICE MEMORANDUM The Honorable Mayor & Members of the City Commission Steven Alexander, City Manager Alfredo Riverol, CPA, CRFAC, CGFM, CGMA, Chief Financial Officer July 17,2018 Agenda Item: __ _ Tentative Millage Rate for FY 2018-2019 A Resolution of the City of South Miami, Florida, relating to the City's 2018/2019 fiscal year budget; advising the Miami-Dade County Property Appraiser of its proposed millage rate of 4.3000 mills; its rolled-back rate of 4.0302 mills and announcing the dates of public hearing to consider the proposed millage rate and tentative budget. BACKGROUND & ANALYSIS The procedures and timetables for establishing the taxation rate and the creation of the Budget are governed by the State of Florida. These rules are generally referred to as TRIM (Truth-in-Millage). This memo addresses the establishment of the maximum millage rate, rollback millage rate, and scheduling formal budget public hearings as required by the TRIM law. The Miami-Dade County Property Appraiser certified the Taxable Value within the City of South Miami at $1,918,166,785. This valuation represents a 7% increase from the FY 2017-18 level of $1,793,210,812 before the effects of inflation are factored into the calculation. When the increase in ad valorem revenues is considered in conjunction with the increase in inflation or CPI, the net increase in revenues to the City as projected at the current and proposed millage rate is $256,167. Maximum Millage Rate A primary source of revenue for municipal government is the property ad valorem tax, which is representative of the property taxes applied to commercial and residential real property and commercial personal property. The Miami Dade Property Appraiser sets the assessable taxable property valuation, based on many factors including State Law such as Homestead exemptions not the City of South Miami, and is based on the property valuation calculated and transmitted by the Property Appraiser. The rate at which property is taxed is referred to as the millage rate. The tax rate, or millage rate, is set by the City of South Miami. The amount of taxes paid by a property owner is Page lof9 2 determined by multiplying the millage rate, times each $1,000 of assessable property taxable value. Local jurisdictions, including municipalities, are required, to establish and publish a maximum millage rate during the budget process as required by Florida Statute 200.065 which requires that within 35 days of receiving the Certificate of Value, (Certification of Value was made on June 29, 2018) each taxing authority shall advise the property appraiser of its proposed millage rate, its rolled-back rate computed pursuant to sub- section (I) and of the date, time and place when a public hearing will be held to consider the proposed millage rate and tentative budget. This rate will be advertised by the City and also reported to the Miami-Dade Property Appraiser. The City Commission can decrease the rate during the budget process. but it cannot be increased after the above date except under extraordinary circumstances. and at significant expense to the City. At this point in the budget process the City is simply establishing a maximum millage rate for budget flexibility and advertising purposes. Therefore, the Mayor and Commission may elect to consider establishing a higher maximum millage rate, for instance, 4.5000, which would generate additional estimated ad valorem revenue of $329,733, above the existing 4.3000 millage rate. For every change of one-tenth of the millage rate, the ad valorem revenue generated is increased or decreased by an estimated $164,867. As per Miami-Dade County's 2018 preliminary average taxable homestead residential value report, the average taxable homestead residential value for South Miami is $250,927. During the FY 2019 budget process, newly recommended and discussed budget items such as much needed parks improvements and new acquisitions will require additional funds over last year's approved budget and the Mayor and Commission may request special projects, new funding for educational alliances, the purchase and or refurbishment of parks and other publicly owned properties and facilities, set new policies, and/or adopt newly negotiated labor agreements, which the additional estimated revenue will assist in funding. Securing the funds necessary for such improvements may be attained by an increase in the millage rate. Page 2of9 3 Hypothetical Millage Rate Increase Under the hypothetical millage rate example of 4.5000, using the Miami-Dade County's average taxable value, the average homesteaded residential taxpayer would incur an additional $155.47 annually, which equals .43 cents a day, on their 2018 annual tax bill when compared to their 2017 annual tax bill. Therefore, at the hypothetical millage rate example of 4.5000, an increase of $784,61 I to City revenues only costs the average homeowner 43 cents a day more than what the homeowner paid for FY 2018. TAXING AGENCY City of South Miami Average Taxable Amount City of South Miami PROIECTED REVENUE CONCERNS Parking Revenues FY 2018 MILLAGE 4.3000 FY 2018 $226,443 FY 2018 $974 FY 2019 MILLAGE 4.5000 FY 2019 $250,927 FY 2019 Diff $1,129 $155.47 Currently, Parking Revenues are the second largest revenue source (behind property tax) in our City budget. Currently the Parking Franchise Revenue is budgeted amount at $1,840,000. That amount represents a reduction of approximately 15% less than what was budgeted in the previous year. The reduction of the projected revenue from parking ($2,167,200) was due to several factors. The City believes that the primary reasons for the reduction and continuous downward trend in parking revenue can be attributed to several factors including; I. Ride-sharing programs (Le. Uber, Lyft). On May of 2016, Miami-Dade County approved the use of Ride Sharing Services, which has increased the public's use of Uber and Lyft. The rising popularity of ride-hail companies like Uber and Lyft in South Miami is causing fewer drivers to park in South Miami, Miami-Dade County, and around the entire Country. Not only has parking been affected, but all public transit has been impacted. As stated in the New Times article on August 18, 2017, "People have begun to switch to Uber and Lyft, preferring the comparably priced, comfortable options to public transit." Parking systems, such as South Miami's, are beginning to see the major impacts on Parking Revenues from ride sharing programs. We project that there is going to be continued negative impacts related to parking revenues as ride-hailing services and self- driving cars gain popularity around the country. Page 3 of9 4 2. The closing of key businesses, and more importantly, the delay in reopening of previously existing major commercial entities. Although many shopping areas nationally are experiencing significant retail closures due to the increasing competition of the internet and new efforts from companies such as Amazon, South Miami is undergoing an exaggerated difficult period as it awaits the anticipated reincarnation of the Shops at Sunset. 3. Reductions in overall consumer traffic in the downtown area, which are in part due to the delayed metamorphosis that the Shops at Sunset, the "heart" of the commercial ecosystem in the downtown area, has amplified. As mentioned previously, businesses periodically close in the normal retail environment and is to be expected, however, when commercial locations remain vacant for a long period, then there is heightened concern and cause for developing and implementing alternative strategies. It is important that the City prepare for future reductions in parking revenues generated by its retail facilities and look for other ways to generate revenues. Florida Homestead Exemption Increase Amendment The Florida Homestead Exemption Increase Amendment is on the ballot November 6, 2018 as a legislatively referred constitutional amendment. A "yes" vote supporting this amendment will exempt the portion of home values between $100,000 and $125,000 from property taxes other than school taxes. The measure would provide for a homestead exemption on the portion of home values between $100,000 and $125,000, meaning the $25,000 between $100,000 and $125,000 of a home's value would be exempted from property taxes. other than school district taxes. As of 2017, Section 6(a) of Article VII of the Florida Constitution provides for a homestead exemption on the portion of home values between (a) $0 and $25,000 and (b) $50,000 and $75,000. Should this amendment pass, which is expected to pass, the City estimates that we will experience an initial revenue loss amount of approximately $222,513, which would take effect in Fiscal Year 2019-20. The continuing loss of parking revenues and the expected continuous loss of the Homestead Exemption revenues project a mounting and continuing revenue concern for the City, which needs to be planned for now so that unexpected and unfortunate actions need to occur in the near future. Adopting the current FY 2018 millage rate of 4.3000 as the FY 2019 millage rate would provide the City an estimated Ad Valorem revenue increase of $454,878, based on the increase in taxable value of property in the City before the effects of inflation are factored into the calculation. Page 4 of9 5 Rolled-back Millage Rate Cities are also required by State Law to calculate what is known as the "Rolled-back Millage Rate." This is the calculated tax rate at which the City would receive the same ad valorem revenue as in the previous year, excluding current year new taxable values (New Construction, additions, etc.). The rolled-back millage rate for the City of South Miami is 4.0302. The City's current millage rate of 4.3000 represents a 6.69% increase over the rolled-back rate. If the City were to adopt the rolled-back rate of 4.0302, the City's estimated Ad Valorem revenue would decrease by an estimated $444,810 when compared to the City's proposed FY 2018 Ad Valorem revenue estimate. For 2017, the annual average Consumer Price Index (CPI) was 2.8%, hence, when taken into account with the annual average CPI from last year of 2.8%, the effective decrease in revenues is approximately $198,711 ($7,096,822 x 2.8%) which jumps the City to a total decrease of $643,521 ($444,810 + $198,71 I). Page 5 of 9 6 Please find the Millage Calculation table below. MILLAGE CALCULATION COMPARISON (PROPOSED) MILLAGE RATE REAL PROPERTY TAXABLE VALUE PERSONAL PROPERTY TAXABLE VALUE TOTAL TAXABLE VALUE (REAL AND PERSONAL PROPERTY) AD VALOREM REVENUE 95% OF TAXABLE VALUE (TO ALLOW FOR DELETIONS & DELINQUENCIES) DEDICATED TAX INCREMENT AMOUNT 4.3000 1,727,378,539 65,832,273 1,793,210,812 7,710,806 7,325,266 -683,322 ,~6;44:944' 4.3000 1,843,032,750 75,134,035 1,918,166,785 8,248,117 7,835,711 -738,889 ,. ,i..~1!iI:i ."' "'''' .,:.: L. _.:,~:: MILLAGE CALCULATION (ROLLED-BACK) 0.00% 6.70% 14.13% 6.97% 537,311 510,445 55,567 .'F~~~i,.?8;> i~fj]:;~~~'F~11~~,.... . · •• ai~·(" >~i·,li.;.=){;; "'.;:,~;;"';'" .u<' '}':" ,',.... . FY;2q:r:r401~.t=Y2011';'21J.";'G "(', ... ; .. MILLAGE RATE REAL PROPERTY TAXABLE VALUE PERSONAL PROPERTY TAXABLE VALUE TOTAL TAXABLE VALUE (REAL AND PERSONAL PROPERTY) AD VALOREM REVENUE 95% OF TAXABLE VALUE (TO ALLOW FOR DELETIONS & DELINQUENCIES) DEDICATED TAX INCREMENT AMOUNT DIFFERENCE 4.3000 1,727,378,539 65,832,273 1,793,210,812 7,710,806 7,325,266 -683,322 6;~'lj944 4.0302 -6.69% 1,843,032,750 6.70% 75,134,035 14.13% 1,918,166,785 6.97% 7,730,596 19,789 7,344,066 $18,800 -692,054 8,732 6652'011 ' .',-'. '" _c' .:IO~O~~ -444,810 Page 6 of 9 7 Below please find a, detail breakdown of the City's 2018 taxable values and 2017 taxable values by property type. SINGLE FAMILY 2,855 869,649,486 2,849 7,95,402,785 CONDOMINIUM 781 119,166,685 781 109,974,035 MULTI FAMILY 92 163,371, 127 91 147,833,436 COMMERCIAL 640 613,482,777 638 596,737,867 INDUSTRIAL 27 11,771,665 27 10,866,991 AGRICULTURE 628,229 I 614,356 VACANT LAND 224 54,981,660 233 55,076,842 INSTITUTIONAL 35 9,183,745 36 10,074,759 GOVERNMENTAL 51 0 51 0 OTHER PROPERTIES II 797,376 II 797,468 REAL ESTATE PARCELS 4,717 1,843,032,750 4,718 1,727,378,539 PERS PROP & CENT ASSD 75,134,035 65,823,326 ALL ASSESSED PROPERTY 1,918,166,785 I ,793,20 I ,865 This increase is attributable to continued signs of the economy stabilizing. The City experienced an overall assessed real property value increase of $1 15,654,21 I or 6.70%. This total is the actual assessed taxable value for 2018. Tangible Personal Property (TPP) consists of all property that is not real estate (land, buildings and improvements). It includes furniture, fixtures, tools, computer equipment, machinery, office equipment, supplies, leasehold improvements, leased equipment, signage, and any other equipment used in a business. ,Furniture and fixtures used in a rental unit (condo, apt, "house) are also taxable in this category. Tangible Personal Property assessed values increased by $9,310,709 or 14.14% when comparing the assessed value of FY 2018-19 and FY 2017-18. The increase in property valuations specifically from construction within the current 2018 year is $2,393,5936 , which represents an increase from the previous year of $9,172,225 or 160.96%. RECOMMENDATION The Administration is proposing a millage rate of 4.3000 mills for FY 2018- 19, which is equivalent to the City's FY 2017-18 existing millage rate. Page 7 of9 8 When the increase in ad valorem revenues is considered in conjunction with the increase in inflation or CPI, the net increase in revenues to the City as projected at the current and proposed millage rate is $256,167. Additionally, the possible continuation of revenue slippage from parking revenues, and the Communications tax (land telephone lines) will add to the reduction in revenues projected for this year. Therefore, we believe maintaining the current millage rate is very conservative. This millage rate continuation will allow the City to proceed with regular necessary services, operations and on-going projects without an increase in tax rate. Whatever rate the Commission sets at this time will be the highest possible rate, for this coming fiscal year. The Commission will be able to re-consider the rate dl,lring the FY 18-19 budget hearings in September of 2018 only for rates lower than what is set tonight by the attached Resolution. Page 8 of9 9 Budget Hearing Schedule The City is required to hold two formal Budget Public Hearings. There are guidelines on when these hearings must be held. Additionally, a local municipality cannot hold a budget hearing on the same date as either the County or the School Board budget hearings. There are also special advertising requirements for these hearings. It is recommended that the Budget Workshop be scheduled as follows: Budget Workshop Monday, August 13, 2018 9:00AM City of South Miami City Hall Commission Chambers 6130 Sunset Drive South Miami, FL 33143 Additionally, the required budget hearings are proposed for the following dates: First Budget Hearing Thursday, September 13, 2018 7:00 PM Second Budget Hearing Wednesday, September 26, 2018 7:00 PM NOTE: Pertinent meetings scheduled as of this date include: Miami-Dade County Budget Hearings: 9-06-18 and 9-12-18 and City of South Miami City Hall Commission Chambers 6130 Sunset Drive South Miami, FL 33143 City of South Miami City Hall Commission Chambers 6130 Sunset Drive South Miami, FL 33143 Miami-Dade County School Board Budget Hearings: 7-25-18 and 9-05-18 Attachments -Proposed Resolution -DR-420, 420TIF, & 420MM-P (DRAFTS) -2018 Tax Roll by Property Type 2018 Year-to-Year-Comparison -2018 Preliminary Tax Roll by Taxing Authority -2018 PreHminary Senior Exemption -Miami-Dade County Preliminary Average Taxable Homestead Residential Value -2016 Fiscal Impact of Extending Homestead Banding Between lOOk and 125k Page 9 of9 10 1·.~s~lprm.J I~~.;t ~~~£f4i~~.,··;1 CERTIFICATION OF TAXABLE VALUE FLORIDA Year: 2018 County: MIAMI-DADE Principal Authority: Taxing Authority: CITY OF SOUTH MIAMI CITY OF SOUTH MIAMI SECTION I: COMPLETED BY PROPERTY APPRAISER 1. Current year taxable value of real property for operating purposes 2. Current year taxable value of personal property for operating purposes 3. Current year taxable value of centrally assessed property for operating purposes 4. Current year gross taxable value for operating purposes (Line 1 plus Line 2 plus Line 3) Current year net new taxable value (Add new construction, additions, rehabilitative 5. improvements increasing assessed value by at least 100%, annexations, and tangible personal property value over 115% of the previous year's value. Subtract deletions.) 6. Current year adjusted taxable value (Line 4 minus Line 5) 7. Prior year FINAL gross taxable value from prior year applicable Form DR-403 series 8. Does the taxing authority include tax increment financing areas? If yes, enter number of worksheets (DR-420TIF) attached. If none, enter 0 Does the taxing authority levy a voted debt service millage or a millage voted for 2 9. years or less under s. 9(b), Article VII, State Constitution? If yes, enter the number of DR-420DEBT, Certification of Voted Debt Millage forms attached. If none, enter 0 $ $ $ $ $ $ $ [(]YES DYES D DR-420 R. 5/12 Rule 12D-16.002 Florida Administrative Code Effective 11/12 1,843,032,750 (1 ) 75,134,035 (2) 0 (3) 1,918,166,785 (4) 23,935,936 (5) 1,894,230,849 (6) 1,771,578,277 (7) NO Number (8) 1 Number [{] NO (9) 0 Property Appraiser Certification II certify the taxable values above are correct to the best of my knowledge. SIGN Signature of Property Appraiser: Date: HERE Electronically Certified by Property Appraiser 6/28/2018 11 :47 AM SECTION" : COMPLETED BY TAXING AUTHORITY If this portion of the form is not completed in FULL your taxing authority will be denied TRIM certification and possibly lose its millage levy privilege for the tax year. If any line is not applicable, enter -0-. 10. Prior year operating millage levy (If prior year millage was adjusted then use adjusted 4.3000 per $1,000 (10) millage from Form DR-422) 11. Prior year ad valorem proceeds (Line 7 multiplied by Line 10, divided by 1,000) $ 7,617,787 (11) 12. Amount, if any, paid or applied in prior year as a consequence of an obligation measured by a $ 683,322 (12) dedicated increment value (Sum of either Lines 6c or Line 70 for 01/ DR-420TlF forms) 13. Adjusted prior year ad valorem proceeds (Line 11 minus Line 12) $ 6,934,465 (13) 14. Dedicated increment value, if any (Sum of either Line 6b or Line le for 01/ DR-420TIF forms) $ 173,593,116 (14) 15. Adjusted current year taxable value (Line 6 minus Line 14) $ 1,720,637,733 (15) 16. Current year rolled-back rate (Line 13 divided by Line 15, multiplied by 1,000) 4.0302 per $1000 (16) 17. Current year proposed operating millage rate 4.3000 per $1000 (17) 18. Total taxes to be levied at proposed millage rate (Line 17 multiplied by Line 4, divided (18) by 1,000) S 8,248,117 13 Continued on page 2 TYPE of principal authority (check one) D County D Independent Special District 19. IZI Municipality D Water Management District Applicable taxing authority (check one) D Dependent Special District IZI Principal Authority 20. D MSTU D Water Management District Basin 21. Is millage levied in more than one county? (check one) DYes IZI No 22. Enter the total adjusted prior year ad valorem proceeds of the principal authority, all dependent special districts, and MSTUs levying a millage. (The sum of Line 13 from all DR-420 forms) 23. Current year aggregate rolled-back rate (Line 22 divided by Line 15, multiplied by 1,000) 24. Current year aggregate rolled-back taxes (Line 4 multiplied by Line 23, divided by 7,000) Enter total of all operating ad valorem taxes proposed to be levied by the principal 25. taxing authority, all dependent districts, and MSTUs, if any. (The sum of Line 18 from all DR-420 forms) 26. Current year proposed aggregate millage rate (Line 25 divided by Line 4, multiplied by 7,000) 27. Current year proposed rate as a percent change of rolled-back rate (Line 26 divided by Line 23, minus 1, multiplied by 100) Date: Time: Place: $ $ $ 4.0302 4.3000 First public budget hearing 6130 Sunset Drive, South Miami, FL 33143 9/13/2018 7:00 PM EST 6,934,465 per $1,000 7,730,596 8,248,117 per $1,000 6.69 % DR-420 R. 5/12 Page 2 (19) (20) (21) (22) (23) (24) (25) (26) (27) mi rates are correct to t my ge. S I G N H E R E Taxing Authority Certification The millages comply with the provisions of s. 200.065 and the provisions either s. 200.071 or s. 200.081, F.5. Signature of Chief Administrative Officer: Title: STEVEN ALEXANDER, CITY MANAGER Mailing Address: 6130 SUNSET DR City, State, Zip: SOUTH MIAMI, FL 33143 Date: Contact Name and Contact Title: ALFREDO RIVEROL, CHIEF FINANCIAL OFFICER Physical Address: 6130 SUNSET DRIVE Phone Number: 305-663-6'343 Instructions on page 3 Fax Number: 305-663-6346 14 CERTIFICATION OF TAXABLE VALUE INSTRUCTIONS DR-420 R. 5/12 Page 3 "Principal Authority" is a county, municipality, or independent special district (including water management districts). "Taxing Authority" is the entity levying the millage. This includes the principal authority, any special district dependent to the principal authority, any county municipal service taxing unit (MSTU), and water management district basins. Each taxing authority must submit to their property appraiser a DR-420 and the following forms, as applicable: · DR-420TIF, Tax Increment Adjustment Worksheet · DR-420DEBT, Certification of Voted Debt Millage · DR-420MM-P, Maximum Millage Levy Calculation -Preliminary Disclosure Section I: Property Appraiser Use this DR-420 form for all taxing authorities except school districts. Complete Section I, Lines 1 through 9, for each county, municipality, independent special district, dependent special district, MSTU, and multicounty taxing authority. Enter only taxable values that apply to the taxing authority indicated. Use a separate form for the principal authority and each dependent district, MSTU and water management district basin. Line 8 . Complete a DR-420TIF for each taxing authority making payments to a redevelopment trust fund under Section 163.387 (2)(a), Florida Statutes or by an ordinance, resolution or agreement to fund a project or to finance essential infrastructure. Check "Yes" if the taxing authority makes payments to a redevelopment trust fund. Enter the number of DR-420TIF forms attached for the taxing authority on Line 8. Enter 0 if none. Line 9 Complete a DR-420DEBT for each taxing authority levying either a voted debt service millage (s.12, Article VII, State Constitution) or a levy voted for two years or less (s. 9(b), Article VII, State Constitution) . Check "Yes" if the taxing authority levies either a voted debt service millage or a levy voted for 2 years or less (s. 9(b), Article VII, State Constitution). These levies do not include levies approved by a voter referendum not required by the State Constitution. Complete and attach DR-420DEBT. Do not complete a separate DR-420 for these levies. Send a copy to each taxing authority and keep a copy. When the taxing authority returns the DR-420 and the accompanying forms, immediately send the original to: Florida Department of Revenue Property Tax Oversight -TRIM Section P. O. Box 3000 Tallahassee, Florida 32315-3000 Section II: Taxing Authority Complete Section II. Keep one copy, return the original and one copy to your property appraiser with the applicable DR-420TIF, DR-420DEBT, and DR-420MM-P within 35 days of certification. Send one copy to the tax collector. "Dependent special district" (ss. 200.001(8)(d) and 189.403(2), F.S.) means a special district that meets at least one of the following criteria: • The membership of its governing body is identical to that of the governing body of a single county or a single municipality. • All members of its governing body are appointed by the governing body of a single county or a single municipality. • During their unexpired terms, members of the special district's governing body are subject to removal at will by the governing body of a single county or a single municipality. • The district has a budget that requires approval through an affirmative vote or can be vetoed by the governing body of a single county or a single municipality. "Independent special district" (ss. 200.001 (8)(e) and 189.403 (3), F.S.) means a special district that is not a dependent special district as defined above. A district that includes more than one county is an independent special district unless the district lies wholly within the boundaries of a single municipality. "Non-voted millage" is any millage not defined as a "voted millage" in s. 200.001 (8)(f), F.S. Lines 12 and 14 Adjust the calculation of the rolled-back rate for tax increment values and payment amounts. See the instructions for DR-420TIF. On Lines 12 and 14, carry forward values from the DR-420TIF forms. Line 24 Include only those levies derived from millage rates. 15 All TRIM forms for taxing authorities are available on our website at http://dor.myflorida.com/dor/property/trim • FLORIDA MAXIMUM MILLAGE LEVY CALCULATION FINAL DISCLOSURE For municipal governments, counties, and special districts Year: 2018 County: MIAMI-DADE Principal Authority: Taxing Authority: CITY OF SOUTH MIAMI CITY OF SOUTH MIAMI Is your taxing authority a municipality or independent special district that has levied valorem taxes for less than 5 years? D Yes DR-420MM RS/12 Rule 12D-16_002 Florida Administrative Code Effective 11 /12 D No (1 ) STOP HERE. SIGN AND SUBMIT. You are not subject to a millage limitation. 4.0302 per $1,000 (2) 5.1591 per $1,000 (3) Adjust rolled-back rate based on prior year majority-vote maximum millage rate 5_ Prior year final gross taxable value from Current Year Form DR-420, Line 7 Prior year maximum ad valorem proceeds with majority vote 6_ (Line 3 multiplied by Line 5 divided by 1,000) ount, if any, paid or applied in prior year as a consequence of an obligation 7. measured by a dedicated increment value from Current Year Form DR-420 Line 12 8. usted prior year ad valorem proceeds with majority vote (Line 6 minus Line 7) 9_ usted current year taxable value from Current Year form DR-420 Line 15 10. usted current year rolled-back rate (Line 8 divided by Line 9, multiplied by 1,000) Calculate maximum millage levy 11 Rolled-back rate to be used for maximum millage levy calculation . (Enter Line 10 if adjusted or else enter Line 2) 12_ Adjustment for change in per capita Florida personal income (See Line 12 Instructions) 13_ Majority vote maximum millage rate allowed (Line 11 multiplied by Line 12) 14. irds vote maximum millage rate allowed (Multiply Line 13 by 1.10) 15_ Current year adopted millage rate 16. Minimum vote required to levy adopted millage: (Check one) a_ vote of the governing 15 o to the majority vote maximum rate. Enter Line 13 on Line 17. D c. Unanimous vote governing , or vote nine or more: D The maximum millage rate is equal to the adopted rate. Enter Line 15 on Line 17. $ $ $ $ $ 1,771,578,277 (5) 9,139,749 (6) 683,322 (7) 8,456,427 (8) 1,720,637,733 (9) 4_9147 per $1,000 (10) 4_9147 per $1,000 (11) 1.0147 (12) 4.9869 per $1,000 (13) 5.4856 per $1,000 (14) 0.0000 per $1,000 (15) (16) rate is equal Line 13_ The Line 15 is greater Line 14_ D d. Referendum: The maximum millage rate is equal to the adopted rate_ Enter Line 75 on Line 17. 17 selection on Line 16 allows a maximum millage rate of 4.9869 per $1,000 (17) . (Enter rate indicated by choice on Line 16). r-+-----------------------------------------------r-----------------+-16 18. Current year gross taxable value from Current Year Form DR-420, Line 4 $ 1,918,166,785 (18) Continued on page 2 Taxing Authority: rrent year adopted taxes (Line 15 multiplied by Line 78, divided by 1,000). $ taxes levied at the maximum millage rate (Line 17 multiplied by Line 78, divided $ 1,000). 21 Enter the current year adopted taxes of all dependent special districts & MSTUs levying · a millage. (The sum of all Lines 19 from each district's Form DR-420MM) 22. current year adopted taxes (Line 79 plus Line 21). $ Total Maximum Taxes 23 Enter the taxes at the maximum millage of all dependent special districts & MSTUs · a millage (The sum of all Lines 20 from each district's Form DR-420MM). $ R. 5/12 Page 2 o (19) (20) o (21) o (22) o (23) 24. taxes at maximum millage rate (Line 20 plus Line 23). $ 9,565,706 (24) Total Maximum Versus Total Taxes Levied 25 total current year adopted taxes on Line 22 equal to or less than total taxes at the 0 YES · maximum millage rate on Line 24? (Check one) [{] NO S I G I certify the millages and rates are correct to the best of my knowledge. The millages Authority Certification comply with the provisions of s. 200.065 and the provisions of either s. 200.071 or s. 200.081 F.S. re of Chief Administrative Officer: Date: N Title: Contact Name and Contact Title: STEVEN ALEXANDER, CITY MANAGER H E Mailing Address: R 6130 SUNSET DR E City, State, Zip: SOUTH MIAMI, FL 33143 ALFREDO RIVEROL, CHIEF FINANCIAL OFFICER Physical Address: 6130 SUNSET DRIVE Phone Number: 305-663-6343 Fax Number: 305-663-6346 Complete and submit this form to the Department of Revenue with the completed DR-487, Certification of Compliance, within 30 days of the final hearing. Instructions on page 3 (25) 17 MAXIMUM MILLAGE LEVY CALCULATION FINAL DISCLOSURE INSTRUCTIONS DR-420MM R.S/12 Page3 General Instructions Each ofthe following taxing authorities must complete a DR-420MM. • County • Municipality • Special district dependent to a county or municipality • County MSTU • Independent special district, including water management districts • Water management district basin Voting requirements for millages adopted by a two-thirds or a unanimous vote are based on the full membership of the governing body, not on the number of members present at the time of the vote. This form calculates the maximum tax levy for 2017 allowed under s. 200.065(5), F.5. Counties and municipalities, including dependent special districts and MSTUs, which adopt a tax levy at the final hearing higher than allowed under s. 200.065, F.5., may be subject to the loss oftheir half-cent sales tax distribution. DR-420MM shows the maximum millages and taxes levied based on your adoption vote. Each taxing authority must complete, sign, and submit this form to the Department of Revenue with their completed DR-487, Certification of Compliance, within 30 days of their final hearing. Taxing authorities must also submit DR-487V, Vote Record for Final Adoption of Millage Levy. This form certifies to the Department of Revenue the vote on the resolution or ordinance stating the millage rate adopted at the final hearing. Specific tax year references in this form are updated each year by the Department. Line Instructions Lines 5-10 Only taxing authorities that levied a 2016 millage rate less than their maximum majority vote rate must complete these lines. The adjusted rolled-back rate on Line lOis the rate that would have been levied ifthe maximum vote rate for 2016 had been adopted. If these lines are completed, enter the adjusted rate on Line 11. Line 12 This line is entered by the Department of Revenue. The same adjus~ment factor is used statewide by al·1 taxing authorities. It is based on the change in per capita Florida personal income (s. 200.001 (8)(i), F.5.), which Florida Law requires the Office of Economic and Demographic Research to report each year. Lines 13 and 14 Millage rates are the maximum that could be levied with a majority or two-thirds vote of the full membership ofthe governing body. With a unanimous vote of the full membership (three-fourths vote of the full membership if the governing body has nine or more members) or a referendum, the maximum millage rate that can be levied is the taxing authority's statutory or constitutional cap. Line 16 Check the box for the minimum vote necessary at the final hearing to levy your adopted millage rate. Line 17 Enter the millage rate indicated by the box checked in Line 16. If the adopted millage rate is equal to or less than the majority vote maximum millage rate, enter the majority vote maximum. If a two-thirds vote, a unanimous vote, or a referendum is required, enter the adopted millage rate. For a millage requiring more than a majority vote, the adopted millage rate must be entered on Line 17, rather than the maximum rate, so that the comparisons on Lines 21 through 25 are accurate. All TRIM forms for taxing authorities are available on our website at http://floridarevenue.com/property/PagesITRIM.aspx 18 FLORIDA Year: 2018 Principal Authority: CITY OF SOUTH MIAMI li'i.; ;;B~(ijifptm.t;~,:1 MAXIMUM MILLAGE LEVY CALCULATION PRELIMINARY DISCLOSURE For municipal governments, counties, and special districts County: MIAMI-DADE Taxing Authority: CITY OF SOUTH MIAMI 1. r taxing authority a municipality or independent special district that has levied D Yes valorem taxes for less than 5 years? DR-420MM-P R. 5/12 Rule 12D-16.002 Florida Adminis.trative Code Effective 11/12 No (1 ) ~ ____________________________________ -L __________ ~ __________ ~~ IF YES, STOP HERE. SIGN AND SUBMIT. You are not subject to a millage limitation. 2. Current year rolled-back rate from Current Year Form DR-420, Line 16 4.0302 per $1,000 (2) 3. Prior year maximum millage rate with a majority vote from 2076 Form DR-420MM, Line 13 5.1591 per $1,000 (3) 4. Prior year operating millage rate from Current Year Form DR-42Q, Line 10 4.3000 per $1,000 (4) Adjust rolled-back rate based on prior year majority-vote maximum millage rate 5. Prior year final gross taxable value from Current Year Form DR-420, Line 7 Prior year maximum ad valorem proceeds with majority vote 6. (Line 3 multiplied by Line 5 divided by 7,000) Amount, if any, paid or applied in prior year as a consequence of an obligation 7. measured by a dedicated increment value from Current Year Form DR-420 Line 12 8. Adjusted prior year ad valorem proceeds with majority vote (Line 6 minus Line 7) 9. Adjusted current year taxable value from Current Year form DR-420 Line 15 10. Adjusted current year rolled-back rate (Line 8 divided by Line 9, multiplied by 7,000) Calculate maximum millage levy 11 Rolled-back rate to be used for maximum millage levy calculation . (Enter Line 70 if adjusted or else enter Line 2) 12. Adjustment for change in per capita Florida personal income (See Line 72 Instructions) 13. Majority vote maximum millage rate allowed (Line 77 multiplied by Line 72) rds vote maximum millage rate allowed (Multiply Line 73 by 1.70) 15. Current year proposed millage rate $ $ $ $ $ 1,771,578,277 (5) 9,139,749 (6) 683,322 (7) 8,456,427 (8) 1,720,637,733 (9) 4.9147 per $1,000 (10) 4.9147 per $1,000 (11) 1.0147 (12) 4.9869 per $1,000 (13) 5.4856 per $1,000 (14) 4.3000 per $ 1 ,000 (15) 16. Minimum vote required to levy proposed millage: (Check one) (16) a. Majority vote of the governing Line 15 is [{] to the majority vote maximum rate. Enter Line 13 on Line 17 •. D b. Two-thirds vote of governing Line 15 is n or equal to Line 14, but greater than Line 13. The maximum millage rate is equal to proposed rate. Enter Line 15 on Line 17. D C. Unanimous vote governing body, or 3/4 vote if nine members or more: Check here ne 15 is greater The maximum millage rate is equal to the proposed rate. Enter Line 15 on Line 17. Line 14. D d. Referendum: The maximum millage rate is equal to the proposed rate. Enter Line 15 on Line 17. selection on Line 16 allows a maximum millage rate of 17. (Enter rote indicated by choice on Line 76) 4.9869 per $1,000 (17) r-+-----------~--------------------------------~----------------~19 18. rrent year gross taxable value from Current Year Form DR-420, Line 4 $ 1,918,166,785 (18) Continued on page 2 Taxing Authority: CITY OF SOUTH MIAMI year proposed taxes (Line 15 multiplied by Line 18, divided by 1,000) 21 Enter the current year proposed taxes of all dependent special districts & MSTUs levying · a millage. (The sum of all Lines 19 from each district's Form DR-420MM-P) current year proposed taxes (Line 19 plus Line 21) Total Maximum Taxes 23 Enter the taxes at the maximum millage of all dependent special districts & MSTUs · levying a millage (The sum of all Lines 20 from each district's Form DR-420MM-P) 24. taxes at maximum millage rate (Line 20 plus Line 23) Total Maximum Versus Total Taxes Levied $ $ $ $ $ 25 Are total current year proposed taxes on Line 22 equal to or less than total taxes at the f71 YES · maximum millage rate on Line 24? (Check one) L..!..J DR-420MM-P R. 5/12 Page 2 8,248,1 17 (19) (20) o 8,248,1 17 (22) o (23) 9,565,706 (24) D NO (25) S I G N Authority Certification I certify the millages and rates are correct to the best of my knowledge. The millages comply with the provisions of s. 200.065 and the provisions of either s. 200.071 or s. 200.081, F.S. H E R E Signature of Chief Administrative Officer: Title: STEVEN ALEXANDER, CITY MANAGER Mailing Address: 6130 SUNSET DR City, State, Zip: SOUTH MIAMI, FL 33143 Date: Contact Name and Contact Title: ALFREDO RIVEROL, CHIEF FINANCIAL OFFICER Physical Address: 6130 SUNSET DRIVE Phone Number: 305-663-6343 Fax Number: 305-663-6346 Complete and submit this form DR-420MM-P, Maximum Millage Levy Calculation-Preliminary Disclosure, to your property appraiser with the form DR-420, Certification of Taxable Value. Instructions on page 3 20 MAXIMUM MILLAGE LEVY CALCULATION PRELIMINARY DISCLOSURE INSTRUCTIONS DR-420MM-P R. 5/12 Page3 General Instructions Each of the following taxing authorities must complete a DR-420MM-P. • County • Municipality • Special district dependent to a county or municipality • County MSTU • Independent special district, including water management districts • Water management district basin Voting requirements for millages adopted by a two-thirds or a unanimous vote are based on the full membership of the governing body, not on the number of members present at the time of the vote. This form calculates the maximum tax levy for 2017 allowed under s. 200.065(5), F.5. Counties and municipalities, including dependent special districts and MSTUs, which adopt a tax levy at the final hearing higher than allowed under s. 200.065, F.5., may be subject to the loss of their half-cent sales tax distribution. DR-420MM-P shows the preliminary maximum millages and taxes levied based on your proposed adoption vote. Each taxing authority must complete, sign, and submit this form to their property appraiser with their completed DR-420, Certification of Taxable Value. The vote at the final hearing and the resulting maximum may change. After the final hearing, each taxing authority will file a final Form DR-420MM, Maximum Millage Levy Calculation Final Disclosure, with Form DR-487, Certification of Compliance, with the Department of Revenue. Specific tax year references in this form are updated each year by the Department. Line Instructions Lines 5-10 Only taxing authorities that levied a 2016 millage rate less than their maximum majority vote rate must complete these lines. The adjusted rolled-back rate on Line lOis the rate that would have been levied if the maximum vote rate for 2016 had been adopted. If these lines are completed, enter the adjusted rate on Line 11 . Line 12 This line is entered by the Department of Revenue. The same adjustment factor is used statewide by all taxing authorities. It is based on the change in per capita Florida personal income (s. 200.001 (8)(i), F.5.), which Florida Law requires the Office of Economic and Demographic Research to report each year. Lines 13 and 14 Millage rates are the maximum that could be levied with a majority or two-thirds vote of the full membership of the governing body. With a unanimous vote of the full membership (three-fourths vote of the full membership if the governing body has nine or more members) or a referendum, the maximum millage rate that can be levied is the taxing authority's statutory or constitutional cap. Line 16 Check the box for the minimum vote necessary at the final hearing to levy your adopted millage rate. Line 17 Enter the millage rate indicated by the box checked in Line 16. If the proposed millage rate is equal to or less than the majority vote maximum millage rate, enter the majority vote maximum. If a two-thirds vote, a unanimous vote, or a referendum is required, enter the proposed millage rate. For a millage requiring more than a majority vote, the proposed millage rate must be entered on Line 17, rather than the maximum rate, so that the comparisons on Lines 21 through 25 are accurate. 21 All TRIM forms for taxing authorities are available on our website at http://floridarevenue.com/property/Pages/TRIM.aspx 11 TAX INCREMENT ADJUSTMENT WORKSHEET FLORIDA Year: 2018 County : MIAMI-DADE Principal Authority : Taxing Authority: CITY OF SOUTH MIAMI CITY OF SOUTH MIAMI Community Redevelopment Area: Base Year: SOUTH MIAMI CRA 1998 SECTION I: COMPLETED BY PROPERTY APPRAISER 1. Current year taxable value in the tax increment area $ 2. Base year taxable value in the tax increment area $ 3. rrent year tax increment value (Line 1 minus Line 2) $ 4. Prior year Final taxable value in the tax increment area $ 5. Prior year tax increment value (Line 4 minus Line 2) $ DR-420TIF R. 6/10 Rule 12D-16.002 Florida Administrative Code Effective 11/12 415,623,622 (1 ) 68,437,390 (2) 347,186,232 (3) 385,681,445 (4) 317,244,055 (5) SIGN HERE Property Appraiser Certification I certify the taxable values above are correct to the best of my knowledge. Signature of Property Appraiser : Date : Electronically Certified by Property Appraiser 6/28/201811 :47 AM 6. If the amount to be paid to the redevelopment trust fund IS BASED on a specific proportion of the tax increment value: 6a. Enter the proportion on which the payment is based. 50.00 % (6a) 6b Dedicated increment value (Line 3 multiplied by the percentage on Line 6a) . If value is zero or less than zero, then enter zero on Line 6& $ 173,593,116 (6b) 6c. Amount of payment to redevelopment trust fund in prior year $ 683,322 (6c) If the amount to be paid to the redevelopment trust fund IS NOT BASED on a specific proportion of the tax increment value: nt of payment to redevelopment trust fund in prior year $ 0 (7a) Prior year operating millage levy from Form DR-420, Line 10 0.0000 per $1,000 (7 b) 0 (7c) levied on prior year tax increment value (Line 5 multiplied Line 7b, divided 1,000) $ 0.00 % (7d) Prior year payment as proportion of taxes levied on increment value (Line 7a divided Line 7c, 100) 7e. Dedicated increment value (Line 3 multiplied by the percentage on Line 7d) $ If value ;s zero or less than zero, then enter zero on Line 7e 0 (7e) Authority Certification I certify the calculations, millages and rates are correct to the best of my knowledge. 5 Signature of Chief Administrative Officer: Date: G N H E R E Title: STEVEN ALEXANDER, CITY MANAGER Mailing Address: 6130 SUNSET DR Contact Name and Contact Title: ALFREDO RIVEROL, CHIEF FINANCIAL OFFICER Physical Address: 6130 SUNSET DRIVE ~----------------------------------~------------~--------------22 City, State, Zip: Phone Number: Fax Number: SOUTH MIAMI, FL 33143 305-663-6343 305-663-6346 TAX INCREMENT ADJUSTMENT WORKSHEET INSTRUCTIONS DR-420TIF R. 6/10 Page 2 Property appraisers must complete and sign Section I of this worksheet and provide it with form DR-420, Certification of Taxable Value, to all taxing authorities who make payments to a redevelopment trust fund under: • s. 163.387(2)(a), Florida Statutes, or • An ordinance, resolution, or agreement to fund a project or to finance essential infrastructure. "Tax increment value" is the cumulative increase in taxable value from the base year to the current year within the defined geographic area. It is used to determine the payment to a redevelopment trust fund under: • s. 163.387(1), F.S. or • An ordinance, resolution, or agreement to fund a project or finance essential infrastructure. In this case, the taxing authority must certify the boundaries and beginning date to the property appraiser. "Dedicated increment value" is the portion of the tax increment value used to determine the payment to the redevelopment trust fund. (See s. 200.001 (8)(h), F.S.) Calculate the dedicated increment value on this form and enter on either Line 6b or Line 7e. "Specific proportion," used to determine whether to complete Line 6 or Line 7, refers to the calculation of the tax increment payment. Examples: • Example 1. Section.163.387(1), F.S., states the payment made by the taxing authority should equal 95% of the millage levied times the tax increment value. The specific proportion in this case is 95%. The ordinance providing for the payment may set a percentage lower.than 95%. In these cases, the lower percentage would be the specific proportion. • Example 2. Some required tax increment payments are not directly related to the tax increment value. A constant dollar payment is a payment not based on a specific proportion of the tax increment value. Line 7 converts these payments into a proportion based on the prior year's payment and tax increment value to reach the current year's dedicated increment value. Section I: Property Appraiser A. Complete Section I of this form for each county, municipality, independent special district, dependent special district, and MSTU that: • Has a tax increment value and • Is not exempted from making payments to a community redevelopment trust fund based on tax increments (s. 163.387(2)(c), F.S.). If a taxing authority has more than one tax increment value, they must complete a separate form for each tax increment value. Send a copy to each taxing authority with the DR-420 and keep a copy. When the taxing authority returns the completed forms, immediately send the original to: Florida Department of Revenue Property Tax Oversight Program -TRIM Section P. O. Box 3000 Tallahassee, Florida 32315-3000 B. Enter only tax increment values that apply to the value located within the taxing authority indicated. Section II: Taxing Authority Complete Section II of the form, keep one copy, and return the original and one copy to your property appraiser with DR-420 within 35 days of certification. Send one copy to your tax collector. Additional Instructions for Lines 6 and 7 Complete Line 6 if the payment into the redevelopment trust fund is a specific proportion of the tax increment value. Complete Line 7 if the payment is based on a calculation other than a specific proportion. Do not complete both Lines 6 and 7. 23 All TRIM forms for taxing authorities are available on our website at http://dor.myflorida.com/dor/property/trim CERTIFICATION OF FINAL TAXABLE VALUE FLORIDA Year: 2018 County: MIAMI-DADE in session? DYes D D County [{] Principal Authority: CITY OF SOUTH MIAMI Independent Special District D [{] Principal Authority D Taxing Authority: CITY OF SOUTH MIAMI D Dependent Special District D SECTION I : COMPLETED BY PROPERTY APPRAISER 1. rrent year gross taxable value from Line 4, Form DR-420 $ 2. Final current year gross taxable value from Form DR-403 Series $ 3. Percentage of change in taxable value (Line 2 divided by Line 7, minus 1, multiplied by 700) taxing authority must complete this form and return it to the property appraiser by time No DR-422 R. 5/13 Rule 12D-16.002 Florida Administrative Code Effective 5/13 Provisional Municipality Water Management District MSTU Water Management District Basin 1,918,166,785 (1) o (2) -100.00 % (3) date ~rr.'n~rrvAppraiser Certification I certify the taxable values above are correct to the best of my knowledge. SIGN Signature of Property Appraiser: Date: HERE SECTION II : COMPLETED BY TAXING AUTHORITY MILLAGE RATE ADOPTED BY RESOLUTION OR ORDINANCE AT FINAL BUDGET HEARING UNDER s. 200.065(2)(d), F.5. If this portion of the form is not completed in full your taxing authority will be denied TRIM certification and possibly lose its millage levy privilege for the tax year. If any line is inapplicable, enter N/A or -0-. Non-Voted Operating Millage Rate (from resolution or ordinance) unty or municipal principal taxing authority 0.0000 per $1,000 (4a) Dependent special district 0.0000 per $1,000 (4b) 4c. service taxing unit (MSTU) 0.0000 per $1,000 (4c) 0.0000 per $1,000 (4d) Required Local Effort 0.0000 per $1,000 (4e) Capital Outlay 0.0000 per $1,000 Discretionary Operating 0.0000 per $1,000 Discretionary Capital Improvement 0.0000 per $1,000 0.0000 Additional Voted Millage 0.0000 per $1,000 management district District Levy 0.0000 per $1,000 (4f) Continued on page 2 Taxing Authority: DR-422 R. 5/1 3 Page 2 COUNTIES, MUNICIPALITIES, SCHOOLS, and WATER MANAGEMENT DISTRICTS may adjust the non-voted millage rate only ifthe percentage on Line 3 is greater than plus or minus 1 %. (s. 200.065(6), F.5) 5. Unadjusted gross ad valorem proceeds $ 0 (5) (Line 7 multiplied by Line 4a, 4e, or 4f as applicable, divided by 7,000) 6. Adjusted millage rate (Only if Line 3 is greater than plus or minus 1 %) 0.0000 per $1000 (6) (Line 5 divided by Line 2 multiplied by 7,000) MSTUs, DEPENDENT SPECIAL DISTRICTS, and INDEPENDENT SPECIAL DISTRICTS may adjust the non-voted millage rate only if the percentage on Line 3 is greater than plus or minus 3% (s. 200.065(6), F.S.) 7. Unadjusted gross ad valorem proceeds $ 0 (7) (Line 7 multiplied by Line 4b, 4c, or 4d as applicable, divided by 7,000) 8. Adjusted Millage rate (Only if Line 3 is greater than plus or minus 3%) 0.0000 per $1000 (8) (Line 7 divided by Line 2, multiplied by 7,000) I certify the millages and rates are correct to the best of my knowledge. The millages Taxing Authority Certification comply with the provisions of s. 200.065 and the provisions of either s. 200.071 or s. S 200.081, F.S. I Signature of Chief Administrative Officer: Date: G N Title: Contact Name and Contact Title: STEVEN ALEXANDER, CITY MANAGER ALFREDO RIVEROL, CHIEF FINANCIAL OFFICER H E Mailing Address: Physical Address: 6130 SUNSET DR 6130 SUNSET DRIVE R E City, State, Zip: Phone Number: Fax Number: SOUTH MIAMI, FL 33143 305-663-6343 305-663-6346 INSTRUCTIONS SECTION I: Property Appraiser 1. Initiate a separate DR-422 form for each DR-420, Certification of Taxable Value, and DR-420S, Certification of School Taxable Value, submitted. 2. Complete Section 1 and sign. 3. Send the original to the taxing authority and keep a copy. SECTION II: Taxing Authority 1. Complete Section II and sign. 2. Return the original to the property appraiser. 3. Keep a copy for your records. 4. Send a copy to the tax collector. 5. Send a copy with the DR-487, Certification of Compliance, to the Department of Revenue at the address below. Send separately if the DR-487 was previously sent to the Department. Florida Department of Revenue Property Tax Oversight -TRIM Section P. O. Box 3000 Tallahassee, Florida 32315 -3000 All taxing authorities must complete Line 4, millages adopted by resolution/ordinance at final budget hearing. Counties, municipalities, schools, and water management districts may complete Line 5 and Line 6 only when Line 3 is greater than plus or minus 1%. (s. 200.065(6), F.S.) MSTUs, dependent special districts, and independent special districts may adjust the non-voted millage rate only when Line 3 is greater than plus or minus 3%. (s. 200.065(6), F.S.) Adjusted millage rate must comply with statutes. The adjusted millage rate entered on Line 6 or Line 8 cannot exceed the rate allowed by other provisions of law or the state constitution. Multi-county and water management districts must complete a separate DR-422 for each county. 25 All TRIM forms for taxing authorities are available on our website at http://dor.myflorida.com/dor/property/trim CERTIFICATION OF FINAL TAXABLE VALUE FLORIDA Year: 2018 County: MIAMI-DADE in session? DYes D D County [{] Principal Authority: CITY OF SOUTH MIAMI Independent Special District D [{] Taxing Authority: CITY OF SOUTH MIAMI Principal Authority D D Dependent Special District D N I : COMPLETED BY PROPERTY APPRAISER 1. Current year gross taxable value from Line 4, Form DR-420 $ 2. Final current year gross taxable value from Form DR-403 Series $ 3. Percentage of change in taxable value (Line 2 divided by Line 1, minus 1, multiplied by 100) taxing authority must complete this form and return it to the property appraiser by time No DR-422 R. 5/13 Rule 12D-16.002 Florida Administrative Code Effective 5/13 Provisional Municipality Water Management District MSTU Water Management District Basin 1,918,166,785 (1) o (2) -100.00 % (3) date Property Appraiser Certification I certify the taxable values above are correct to the best of my knowledge. SIGN Signature of Property Appraiser: Date: HERE II : COMPLETED BY TAXING AUTHORITY MILLAGE RATE ADOPTED BY RESOLUTION OR ORDINANCE AT FINAL BUDGET HEARING UNDER s. 200.065(2)(d), F.5. If this portion of the form is not completed in full your taxing authority will be denied TRIM certification and possibly lose its millage levy privilege for the tax year. If any line is inapplicable, enter N/A or -0-. Non-Voted Operating Millage Rate (from resolution or ordinance) 4a. nty or municipal principal taxing authority 0.0000 per $1,000 (4a) 4b. Dependent special district 0.0000 per $1,000 (4b) 4c. Municipal service taxing unit (MSTU) 0.0000 per $1,000 (4c) 4d. Independent Special District 0.0000 per $1,000 (4d) 4e. School district Required Local Effort 0.0000 per $1,000 (4e) Capital Outlay 0.0000 per $1,000 Discretionary Operating 0.0000 per $1,000 Discretionary Capital Improvement 0.0000 per $1,000 0.0000 Additional Voted Millage 0.0000 per $1,000 management district District Levy 0.0000 per $1,000 (4f) Continued on page 2 Taxing Authority: DR-422 R.5/13 Page 2 COUNTIES, MUNICIPALITIES, SCHOOLS, and WATER MANAGEMENT DISTRICTS may adjust the non-voted millage rate only if the percentage on Line 3 is greater than plus or minus 1 %. (s. 200.065(6), F.5) 5. Unadjusted gross ad valorem proceeds $ 0 (5) (Line 1 multiplied by Line 4a, 4e, or 4f as applicable, divided by 1,000) 6. Adjusted millage rate (Only if Line 3 is greater than plus or minus 1 %) 0.0000 per $1000 (6) (Line 5 divided by Line 2 multiplied by 1,000) MSTUs, DEPENDENT SPECIAL DISTRICTS, and INDEPENDENT SPECIAL DISTRICTS may adjust the non-voted millage rate only if the percentage on Line 3 is greater than plus or minus 3% (s. 200.065(6), F.S.) 7. Unadjusted gross ad valorem proceeds $ 0 (7) (Line 1 multiplied by Line 4b, 4c, or 4d as applicable, divided by 1,000) 8. Adjusted Millage rate (Only if Line 3 is greater than plus or minus 3%) 0.0000 per $1000 (8) (Line 7 divided by Line 2, multiplied by 1,000) I certify the millages and rates are correct to the best of my knowledge. The miliages Taxing Authority Certification comply with the provisions of s. 200.065 and the provisions of either s. 200.071 or s. S 200.081, F.5. I Signature of Chief Administrative Officer: Date: G N Title: Contact Name and Contact Title: STEVEN ALEXANDER, CITY MANAGER ALFREDO RIVEROL, CHIEF FINANCIAL OFFICER H E Mailing Address: Physical Address: 6130 SUNSET DR 6130 SUNSET DRIVE R E City, State, Zip: Phone Number: Fax Number: SOUTH MIAMI, FL 33143 305-663-6343 305-663-6346 INSTRUCTIONS SECTION I: Property Appraiser 1. Initiate a separate DR-422 form for each DR-420, Certification of Taxable Value, and DR-420S, Certification of School Taxable Value, submitted. 2. Complete Section 1 and sign. 3. Send the original to the taxing authority and keep a copy. SECTION II: Taxing Authority 1. Complete Section II and sign. 2. Return the original to the property appraiser. 3. Keep a copy for your records. 4. Send a copy to the tax collector. 5. Send a copy with the DRA8?, Certification of Compliance, to the Department of Revenue at the address below. Send separately if the DR-48? was previously sent to the Department. Florida Department of Revenue Property Tax Oversight -TRIM Section P O. Box 3000 Tallahassee, Florida 32315 -3000 All taxing authorities must complete Line 4, millages adopted by resolution/ordinance at final budget hearing. Counties, municipalities, schools, and water management districts may complete Line 5 and Line 6 only when Line 3 is greater than plus or minus 1%. (s. 200.065(6), F.S.) MSTUs, dependent special districts, and independent special districts may adjust the non-voted millage rate only when Line 3 is greater than plus or minus 3%. (s. 200.065(6), F.S.) Adjusted millage rate must comply with statutes. The adjusted millage rate entered on Line 6 or Line 8 cannot exceed the rate allowed by other provisions of law or the state constitution Multi-county and water management districts must complete a separate DR-422 for each county. All TRIM forms for taxing authorities are available on our website at http://dor.myflorida.com/dor /property/trim 27 MIAMI-DADE COUNTY PROPERTY APPRAISER 2018 ASSESSMENT ROLL CHANGE BY PROPERTY TYPE JUNE 28, 2018 2018 City of South Miami Preliminary Assessment Roll Values and 2017 Comparison PROPERTY TYPE SINGLE FAMILY CONDOMINIUM MULTI FAMILY COMMERCIAL INDUSTRIAL AGRICULTURE VACANT LAND INSTITUTIONAL GOVERNMENTAL OTHER PROPERTIES REAL ESTATE PARCELS PERS PROP & CENT ASSD ALL ASSESSED PROPERTY N (Xl 2018 COUNT 2,855 781 92 640 27 1 224 35 51 11 4,717 2017 PRELIMINARY VALUES JUST VALUE TAXABLE VALU E 1,403,098,332 795,402,785 137,777,753 109,974,035 156,363,306 147,833,436 646,427,327 596,737,867 12,984,080 10,866,991 1,433,374 614,356 69,608,990 55,076,842 101,642,651 10,074,759 111,061,424 ° 1,990,564 797,468 2,642,387,801 1,727,378,539 117,746,965 65,823,326 2,760,134,766 1,793,201,865 2018 PRELIMINARY VALUES TAXABLE JUST VALUE TAXABLE VALUE VALUE DIFF PCT 1,460,601,352 869,649,486 74,246,701 9.3% 146,642,146 119,166,685 9,192,650 0.0% 171,089,836 163,371,127 15,537,691 10.5% 676,110,856 613,482,777 16,744,910 0.0% 15,801,650 11,771,665 904,674 0.0% 1,428,860 628,229 13,873 0.0% 66,377,191 54,981,660 -95,182 -0.2% 100,511,759 9,183,745 -891,014 0.0% 108,923,997 ° ° 0.0% 1,990,472 797,376 -92 0.0% 2,749,478,119 1,843,032,750 115,654,211 6.7% 129,460,885 75,134,035 9,310,709 14.1% 2,878,939,004 1,918,166,785 124,964,920 7.0% NEW CONS 23,758,734 ° 59,086 1,651,208 ° ° -1,533,092 ° ° ° 23,935,936 ° 23,935,936 MIAMI-DADE COUNTY PROPERTY APPRAISER 2018 AND 2017 PRELIMINARY ROLL COMPARISION JUNE 28, 2018 TAXING AUTHORITY CITY OF MIAMI DOWNTOWN DEV AUTHORITY CITY OF MIAMI BEACH NORMANDY SHORES CITY OF CORAL GABLES CITY OF HIALEAH CITY OF MIAMI SPRINGS CITY OF NORTH MIAMI CITY OF NORTH MIAMI BEACH CITY OF OPA-LOCKA CITY OI=.SQutH MIAMI CITY OF HOMESTEAD MIAMI SHORES VILLAGE BAL HARBOUR VILLAGE TOWN OF BAY HARBOR ISLANDS TOWN OF SURFSIDE CITY OF WEST MIAMI CITY OF FLORIDA CITY VILLAGE OF BISCAYNE PARK VILLAGE OF EL PORTAL TOWN OF GOLDEN BEACH VILLAGE OF PINECREST VILLAGE OF INDIAN CREEK TOWN OF MEDLEY NORTH BAY VILLAGE VILLAGE OF KEY BISCAYNE CITY OF SWEETWATER VILLAGE OF VIRGINIA GARDENS CITY OF HIALEAH GARDENS CITY OF AVENTURA CITY OF SUNNY ISLES BEACH TOWN OF MIAMI LAKES VILLAGE OF PALMETTO BAY CITY OF MIAMI GARDENS CITY OF DORAL TOWN OF CUTLER BAY COUNTY OPERATING MUNICIPAL SERVICE AR'EA FIRE & RESCUE LIBRARY SO FL WATER MGMT DIST EVERGLADES CONSTR PROJECT OKEECHOBEE BASIN FL INLAND NAVIGATION DIST CHILDREN'S TRUST BOARD OF PIIRI.lC INSTRUCTION I\.) CD 2018 PRELIMINARY ASSESSMENT ROLL VALUES PERS PROP GROSS REAL PROPERTY & CENT ASSD TAXABLE 51,065,457,189 2,291,647,844 53,357,105,033 18,466,846,346 1,003,057,923 19,469,904,269 38,194,902,513 692,758,588 38,887,661,101 211,910,841 194,532 212,105,373 15,669,652,415 353,724,881 16,023,377,296 9,762,587,984 618,296,732 10,380,884,716 1,115,110,407 83,591,860 1,198,702,267 2,973,808,217 127,887,835 3,101,696,052 2,800,222,837 132,235,372 2,932,458,209 779,648,485 107,784,240 887,432,725 :1.B4a;.(j32;7~O· t~l!JI4~f:i;{~; +;~1,!f;~66~185' 2,736,415,452 121,085,602 2,857,501,054 1,095,746,087 22,286,873 1,118,032,960 5,422,566,667 76,255,422 5,498,822,089 1,199,898,720 14,839,609 1,214,738,329 3,052,583,231 33,437,303 3,086,020,534 526,419,032 23,650,437 550,069,469 477,906,110 51,529,026 529,435,136 214,133,800 3,589,760 217,723,560 156,046,316 3,155,592 159,201,908 1,094,204,971 1,560,477 1,095,765,448 4,760,533,992 49,951,503 4,810,485,495 604,760,997 3,126,811 607,887,808 1,955,054,965 308,924,598 2,263,979,563 1,053,117,675 26,741,239 1,079,858,914 8,482,552,944 50,072,756 8,532,625,700 1,605,471,794 153,613,504 1,759,085,298 176,451,639 92,080,132 268,531,771 1,206,753,225 78,663,144 1,285,416,369 10,114,719,172 251,121,004 10,365,840,176 11,043,156,969 77,378,616 11,120,535,585 3,043,770,942 170,107,546 3,213,878,488 2,865,295,617 65,416,994 2,930,712,611 4,175,917,558 401,052,032 12,416,060,462 769,724,738 13,185,785,200 2,448,718,602 68,991,390 2,517,709,992 275,622,043,592 14,465,094,875 290,087,138,467 69,715,383,717 7,056,858,028 76,772,241,745 152,645,100,086 10,458,594,074 163,103,694,160 250,728,001,764 13,454,695,338 264,182,697,102 277,872,920,821 14,465,094,875 292,338,015,696 277,872,920,821 14,465,094,875 292,338,015,696 277,872,920,821 14,465,094,875 292,338,015,696 277,872,920,821 14,465,094,875 292,338,015,696 277,872,920,821 14,465,094,875 292,338,015,696 307,727,920,212 14,465,094,875 322,193,015,087 2017 PRELIMINARY ASSESSMENT ROLL VALUES PERS PROP GROSS CHANGE IN REAL PROPERTY & CENTASSD TAXABLE GROSS TAXABLE PCT 47,453,223,089 2,168,086,910 49,621,309,999 3,735,795,034 7.53% 17,794,480,077 987,153,511 18,781,633,588 688,270,681 3.66% 36,738,493,881 658,568,609 37,397,062,490 1,490,598,611 3.99% 198,157,631 4,127 198,161,758 13,943,615 7.04% 14,843,019,453 328,994,637 15,172,014,090 851,363,206 5.61% 8,928,454,641 571,894,997 9,500,349,638 880,535,078 9.27% 1,036,258,340 85,467,442 1,121,725,782 76,976,485 6.86% 2,731,911,700 107,931,357 2,839,843,057 261,852,995 9.22% 2,413,846,621 121,829,344 2,535,675,965 396,782,244 15.65% 696,558,420 107,064,042 803,622,462 83,810,263 10.43% ·1;7~1~.376.t;39 $~i6~~~~0 il'm~t~i~ffig 12.4;9$~.~7'~ 6l97~Ci 2,499,843,223 108,789,455 2,608,632,678 248,868,376 9.54% 1,030,605,970 21,517,371 1,052,123,341 65,909,619 6.26% 5,242,702,989 71,503,521 5,314,206,510 184,615,579 3.47% 1,018,874,072 12,713,670 1,031,587,742 183,150,587 17.75% 2,124,593,954 25,864,538 2,150,458,492 935,562,042 43.51% 456,785,383 18,523,333 475,308,716 74,760,753 15.73% 427,748,316 38,991,071 466,739,387 62,695,749 13.43% 192,117,606 3,072,418 195,190,024 22,533,536 11.54% 144,646,207 2,604,725 147,250,932 11,950,976 8.12% 1,033,758,863 1,504,558 1,035,263,421 60,502,027 5.84% 4,550,031,863 45,295,995 4,595,327,858 215,157,637 4.68% 567,609,072 2,772,345 570,381,417 37,506,391 6.58% 1,817,750,233 275,667,424 2,093,417,657 170,561,906 8.15% 1,014,979,408 22,260,645 1,037,240,053 42,618,861 4.11% 8,607,702,771 39,067,113 8,646,769,884 -114,144,184 -1.32% 1,531,852,380 132,606,545 1,664,458,925 94,626,373 5.69% 167,255,640 94,656,400 261,912,040 6,619,731 2.53% 1,091,477,018 73,890,324 1,165,367,342 120,049,027 10.30% 9,875,262,061 223,735,802 10,098,997,863 266,842.313 2.64% 11,031,585,535 66,307,764 11,097,893,299 22,642,286 0.20% 2,856,633,089 160,699,265 3,017,332,354 196,546,134 6.51% 2,747,315,915 61,682,645 2,808,998,560 121,714,051 4.33% 3,838,375,248 368,449,523 4,206,824,771 -4,206,824,771 ##11#### 11,367,985,390 712,568,857 12,080,554,247 1,105,230,953 9.15% 2,302,905,010 68,285,604 2,371,190,614 146,519,378 6.18% 258,925,831,149 13,505,868,134 272,431,699,283 17,655,439,184 6.48% 65,049,636,349 6,630,327,868 71,679,964,217 5,092,277,528 7.10% 142,562,605,774 9,739,255,868 152,301,861,642 10,801,832,518 7.09% 236,672,095,236 12,585,327,006 249,257,422,242 14,925,274,860 5.99% 261,169,690,689 13,505,868,134 274,675,558,823 17,662,456,873 6.43% 261,169,690,689 13,505,868,134 274,675,558,823 17,662,456,873 6.43% 261,169,690,689 13,505,868,134 274,675,558,823 17,662,456,873 6.43% 261,169,690,689 13,505,868,134 274,675,558,823 17,662,456,873 6.43% 261,169,690,689 13,505,868,134 274,675,558,823 17,662,456,873 6.43% 291,619,889,665 13,505,868,134 305,125,757,799 17,067,257,288 5.59% MIAMI-DADE COUNTY PROPERTY APPRAISER 2018 Taxable Values by Taxing Authority June 2018 2017 2018 Preliminary Taxable Value Percent Taxable Before New Percent New Change Value Construction FROM 2017 49,621 1,333,758,639 7.5% 3.7% 4.0% 1 MB NORMANDY SHORES 7.0% CORAL GABLES 5.6% 04 HIALEAH 10,241,580,234 7.8% 9.3% 05 MIAMf SPRINGS 1,188,519,599 6.0% 6.9% 06 NORTH MIAMI 3,055,020,779 7.6% 9.2% 07 NORTH MIAMI BEACH 2,695,580,360 6.3% 15.6% OPA-LOCKA 871,429,709 8.4% 10 HOMESTEAD 2,772,844,913 6.3% 11 MIAMI SHORES 1,116,908,344 6.2% 2 BAL HARBOUR 5,284,281,171 -0.6% 13 BAY HARBOR ISLANDS 1,031,587,742 1,087,806,096 5.4% 14 SURFSIDE 2,150,458,492 2,074,568,427 -3.5% 15 WEST MIAMI 475,308,716 505,848,790 6.4% 16 FLORIDA CITY 466,739,387 509,594,438 9.2% 17 BISCAYNE PARK 195,190,024 216,078,634 10.7% 18 EL PORTAL 147,250,932 158,416,286 7.6% 19 GOLDEN BEACH 1,035,263,421 1,077,923,234 4.1% PINECREST 4,595,327,858 4,760,890,312 3.6% 21 INDIAN CREEK 570,381,417 607,895,284 6.6% 2,093,417,657 2,226,614,579 6.4% 1,037,240,053 1,079,815,372 4.1% KEY BISCAYNE 8,646,769,884 8,499,831,052 -1.7% -1.3% 1,664,458,925 1,741,049,510 4.6% 5.7% 26 VIRGINIA GARDENS 261,912,040 267,701,461 2.2% 2.5% 27 HIALEAH GARDENS 1,165,367,342 1,252,645,122 7.5% 10.3% AVENTURA 10,098,997,863 10,138,634,036 0.4% 2.6% 30 UNINCORPORATED 71,679,964,217 75,936,775,674 5.9% 7.1% 31 SUNNY ISLES BEACH 11,097,893,299 11,089,118,428 -0.1% 0.2% 32 MIAMI LAKES 3,017,332,354 3,147,005,348 4.3% 6. 33 PALMETTO BAY 2,808;998,560 2,925,759,513 4.2% 4.3% 34 MIAMI GARDENS 4,206,824,771 4,521,533,157 7.5% 8.8% 35 DORAL 12,080,554,247 12,592,820,904 4.2% 9.1% 36 CUTLER BAY 2,371,190,614 2,512,237,601 5.9% 6.2% COUNTY-WIDE 272,431,699,283 284,432,623,061 4.4% 6.5% FIRE AND RESCUE 152,301,861,642 159,309,275,618 4.6% 7.1% LIBRARY 249,257,422,242 260,167,025,410 4.4% 6.0% BOARD 305,125,757,799 316,534,110,043 3.7% 5.6% S FL WATER MNGT DIST 274,675,558,823 286,679,122,370 4.4% 5, 30 FL INLAND NAV DIST 274,675,558,823 286,679,122,370 4.4% 5, THE CHILDREN'S TRUST 27 4.4% 5, MIAMI-DADE COUNTY • PROPERTY APPRAISER 2017 Senior and Long-Term Resident Senior Exemptions JUNE 28, 2018 LONG-TERM RESIDENT SENIOR EXEMPTIONS SENIOR EXEMPTIONS Municipality Count Exemption Value Count Exemption Value 01 Miami 6,280 251,555,536 1,584 12,842,239 02 Miami Beach 1,149 46,676,198 132 443,189 03 Coral Gables 325 15,628,984 13 115,862 04 Hialeah 6,570 271,861,913 2,222 27,217J47 05 Miami Springs 213 10,071,900 0 0 06 North Miami 568 18,804,041 137 491,092 07 North Miami Beach 596 19J65J76 0 0 08 Opa-Iocka 161 4,223,109 65 16,532 09 South Miami 116 5,322,741 0 0 10 Homestead 370 11,930,344 34 199,949 11 Miami Shores 0 0 0 0 12 Bal Harbour 19 850,000 0 0 13 Bay Harbor Islands 65 2A08,592 4 108,687 14 Surfside 99 4,871,606 0 0 15 West Miami 232 11A02,531 0 0 16 Florida City 0 0 0 0 17 Biscayne Park 32 1,591,654 0 0 18 EI Portal 33 1A58,678 0 0 19 Golden Beach 1 25,000 0 0 20 Pinecrest 67 3,099A86 1 0 21 Indian Creek 0 0 0 0 22 Medley 12 331,203 6 5,964 23 North Bay Villae 67 2A62,698 10 28,753 24 Key Biscayne 58 2,800,000 0 0 25 Sweetwater 333 13,788,908 0 0 26 Virginia Gardens 43 1,980,054 16 317,820 27 Hialeah Gardens 479 18,744,641 56 278,367 28 Aventura 757 18,057,042 0 0 30 Unincorporated 19J50 801,707,724 3,995 30A50,367 31 Sunny Isles Beach 502 22,313,616 0 0 32 Miami Lakes 409 18,933,308 15 235,294 33 Palmetto Bay 149 7,124,237 9 148,868 34 Miami Gardens 1,851 61J39,938 868 3,069,538 35 Doral 225 10J54,254 8 161,824 36 Cutler Bay 425 18,654,845 103 1,010,062 County 42,089 1,695,816,260 9,650 79,898,825 31 MIAMI-DADE COUNTY PROPERTY APPRAISER 2018 PREUMINARY AVERAGE AND MEDIAN HOMESTEAD RESIDENTIAL VALUES JUNE 28, 2018 Average Values Median Values Municipality Count Just Assessed Taxable Just Assessed Taxable 01 CITY OF MIAMI 37,169 384,032 236,040 183,218 267,374 145,670 90,066 02 CITY OF MIAMI BEACH 13,178 948,857 547,502 493,753 408,852 247,242 194,251 03 CITY OF CORAL GABLES 10,296 1,062,485 704,943 651,651 722,263 449,046 397,850 04 CITY OF HIALEAH 31,578 204,221 121,637 65,797 209,838 117,285 52,640 05 CITY OF MIAMI SPRINGS 2,951 343,566 218,288 164,427 326,126 198,507 146,683 06 CITY OF NORTH MIAMI 7,692 261,386 142,985 95,192 174,453 89,997 37,159 07 CITY OF NORTH MIAMI BEACH 6,308 234,506 134,705 85,442 183,436 90,770 38,490 08 CITY OF OPA-LOCKA 1,425 148,134 73,579 31,407 142,740 65,851 25,000 i{lQ ;GflT'{:Of"~mJo;l;MI1\Ml 2.;31:7 ;~OtiJ~" ~!5" ~J5Qii~7: 43~J~" Il9lgi (~e:1;;~72 10 CITY OF HOMESTEAD 8,106 172,921 124,462 76,529 167,201 118,323 66,627 11 MIAMI SHORES VILLAGE 2,852 466,758 283,552 233,572 410,933 243,324 192,797 12 BAL HARBOUR VILLAGE 671 1,645,994 1,044,364 993,043 1,327,651 652,903 602,903 13 TOWN OF BAY HARBOR ISLANDS 1,006 667,826 343,319 291,477 278,121 171,720 119,609 14 TOWN OF SURFSIDE 1,262 656,889 381,669 327,332 544,562 302,218 250,071 15 CITY OF WEST MIAMI 1,137 289,114 174,265 113,614 281,423 153,114 97,377 16 CITY OF FLORIDA CITY 762 121,699 57,527 25,172 113,663 47,556 22,390 17 VILLAGE OF BISCAYNE PARK 704 387,254 219,449 166,706 357,130 187,437 135,953 18 VILLAGE OF EL PORTAL 543 333,655 178,150 125,152 308,462 146,998 95,969 19 TOWN OF GOLDEN BEACH 240 3,800,436 2,119,217 2,067,971 2,949,510 1,316,900 1,266,900 20 VILLAGE OF PINECREST " 4,418 970,096 704,035 651,119 791,088 524,446 473,375 21 VILLAGE OF INDIAN CREEK 15 24,067,394 10,807,274 10,742,140 25,435,754 8,819,264 8,769,264 22 TOWN OF MEDLEY 56 139,678 83,480 38,018 123,216 68,411 25,000 23 CITY OF NORTH BAY VILLAGE 1,072 346,357 225,208 174,364 251,107 167,022 113,348 24 VILLAGE OF KEY BISCAYNE 2,560 1,460,722 1,015,191 961,713 1,125,297 622,377 571,243 25 CITY OF SWEETWATER 1,746 197,291 113,326 59,010 173,545 99,472 38,711 26 VILLAGE OF VIRGINIA GARDENS 407 257,760 157,359 100,725 247,470 140,842 88,444 27 CITY OF HIALEAH GARDENS 3,867 209,841 124,537 73,209 204,251 110,839 55,458 28 CITY OF AVENTURA 8,323 384,750 305,387 254,149 264,004 211,222 158,922 30 MUNICIPAL SERVICE AREA 205,830 267,836 173,025 120,279 240,000 147,404 92,693 31 CITY OF SUNNY ISLES BEACH 3,731 553,842 396,953 340,732 286,166 197,660 137,661 32 TOWN OF MIAMI LAKES 6,500 354,788 243,515 189,744 330,596 218,643 166,893 33 VILLAGE OF PALMETIO BAY 6,259 466,514 336,479 284,215 450,478 312,607 261,996 34 CITY OF MIAMI GARDENS 19,202 181,019 104,009 53,841 179,883 96,590 43,335 35 CITY OF DORAL 7,036 328,301 270,546 218,764 296,713 244,201 193,121 36 TOWN OF CUTLER BAY 9,624 239,116 164,016 111,717 226,180 147,173 95,453 MIAMI-DADE COUNTYWIDE 410,903 342,988 220,296 167,634 242,150 147,984 93,433 Other Taxing Authorities BOARD OF PUBLIC INSTRUCTION 410,903 342,988 220,310 194,525 242,150 147,995 122,403 SO FLORIDA WATER MANAGEMENT DIST 410,903 342,988 220,296 172,262 242,150 147,984 97,388 FLORIDA INLAND NAVIGATION DISTRICT 410,903 342,988 220,296 172,262 242,150 147,984 97,388 THE CHILDRENS' TRUST 410,903 342,988 220,296 172,262 242,150 147,984 97,388 32 '-M~IA~MC;:I-O:.D:--::A""DE C-O-UNTY· PROPERTY APPRAISER F;scal Impact of tho Additional Homestead Banding to tho $100,000 to $125,000 Range in Assessed Value APRIL 27, 2017 Estimated Fiscal Impact of an Additional Homestead Exemption (Banding) to $100,000 and $125,000 Range of Assessed Value Values based on the 2016 Preliminary Assessment Roll COUN1Y·WIDE 251,337,011.4 75 245,157,773.498 6,179,237,977 4.6669 28,837,886 0.4000 2,471,695 5.0669 . :,3130958.1 ~ 30 U.M.SA 66,613,469,754 63,540,718,732 3,072,751,022 1.9283 5,925,186 0 1.9283 ;,~921l;188 z FIRE·RESCUE 140,871,793.499 136,237,640,678 4,634,152,821 2.4207 11,217,894 0.0075 34,756 2.4282 :':l12li2850 ::> 0 LIBRARY 230,877,177,404 225,238,989,132 5,638,188,272 0.2840 1,601,245 0 0.2840 ')llIOf245 () TOTAL COUNTY IMPACT 47,582,211 2,506,451 .$O.0iI8;.6~ ASSUMPTIONS AND LIMITATIONS: 419,523 207,482 317,519 367,718 1) I\n addlhonal Homestead Exemption IS applJed to values between $100,000 and $125,000. Currently, the addilronal exemption apphes to values between $50,000 and $75,000. Taxes Will be paid on values between $75,000 and $100,000. • 272,047 135,011 204,543 246,556 - 2) All other exemptions are applied at their 2016 values except for the Veterans and Mlhtary Deployment abatements which are based on a percentage or the pre-abatement taxable value. Those abatements WIll be lower as the percentage will be apphed against a lower taxable value 3) ThIS legl51atl01 ~ Jppltes to counues, mUOIclpalitles, water dlstncts, and Independent speCial dlstncts. It IS not applied to School Board values.