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2016 Fiscal Impact of Extending Homestead Banding Between 100k and 125k2016 Taxable Value Value ReductionTotalTaxable After Reduction for Due to Additional Millage Revenue Millage Revenue Millage Revenue Homestead PropertiesMUN TAXING AUTHORITY Value Additional Exemption Value Exemption Value Rate Loss Rate Loss Rate Loss Properties Affected01MIAMI 44,602,305,542 43,988,111,992 614,193,550 7.6465 4,696,431 0.6435 395,234 8.2900 5,091,665 42,425 26,999DOWNTOWN DEV AUTH 16,681,746,744 16,612,886,948 68,859,796 0.4681 32,233 0 0.4681 32,233 3,079 2,84002MIAMI BEACH 34,697,757,108 34,426,260,185 271,496,923 5.7092 1,550,030 0.1796 48,761 5.8888 1,598,791 14,038 11,419MB NORMANDY SHORES 176,059,811 170,234,811 5,825,000 1.0093 5,879 0 1.0093 5,879 233 23303CORAL GABLES 14,389,132,612 14,134,405,459 254,727,153 5.5590 1,416,028 0 5.5590 1,416,028 10,521 10,26804HIALEAH 8,533,649,696 8,193,811,209 339,838,487 6.3018 2,141,594 0 6.3018 2,141,594 32,405 16,21705MIAMI SPRINGS 1,050,756,136 980,740,970 70,015,166 7.5000 525,114 0 7.5000 525,114 3,011 2,86206NORTH MIAMI 2,603,435,134 2,553,322,113 50,113,021 7.5000 375,848 0 7.5000 375,848 7,949 2,59007N. MIAMI BCH 2,330,919,734 2,288,347,490 42,572,244 6.5000 276,720 0.8360 35,590 7.3360 312,310 6,513 2,19708OPA LOCKA 751,530,607 750,394,585 1,136,022 10.0000 11,360 0 10.0000 11,360 1,467 7109SOUTH MIAMI 1,692,410,228 1,640,662,982 51,747,246 4.3000 222,513 0 4.3000 222,513 2,394 2,16010HOMESTEAD 2,316,513,457 2,245,185,509 71,327,948 5.9215 422,368 0.5934 42,326 6.5149 464,694 7,299 3,58511MIAMI SHORES 974,796,046 914,323,154 60,472,892 7.9000 477,736 0.5054 30,563 8.4054 508,299 2,922 2,54512BAL HARBOUR 4,433,731,559 4,416,917,721 16,813,838 1.9654 33,046 0 1.9654 33,046 702 67913BAY HARBOR ISLAND 880,111,322 862,707,044 17,404,278 4.4000 76,579 0 4.4000 76,579 1,084 76414SURFSIDE 1,689,439,338 1,657,636,487 31,802,851 5.0144 159,472 0 5.0144 159,472 1,314 1,29415WEST MIAMI 368,149,163 343,578,821 24,570,342 6.8858 169,186 0 6.8858 169,186 1,157 1,12416FLORIDA CITY 460,489,467 460,093,146 396,321 7.1858 2,848 0 7.1858 2,848 786 2317BISCAYNE PARK 176,894,419 159,793,179 17,101,240 9.7000 165,882 0 9.7000 165,882 792 75018EL PORTAL 129,830,872 120,902,380 8,928,492 8.3000 74,106 0 8.3000 74,106 568 41519GOLDEN BEACH 952,564,565 946,614,565 5,950,000 7.3960 44,006 1.0040 5,974 8.4000 49,980 239 23820PINECREST 4,380,870,849 4,271,578,373 109,292,476 2.3000 251,373 0 2.3000 251,373 4,537 4,38121INDIAN CREEK 547,987,077 547,612,077 375,000 6.9500 2,606 0 6.9500 2,606 15 1522MEDLEY 1,986,106,744 1,985,853,082 253,662 5.5000 1,395 0 5.5000 1,395 58 1223NORTH BAY VILLAGE 959,707,508 944,122,959 15,584,549 4.8432 75,479 0.7108 11,077 5.5540 86,557 1,029 69424KEY BISCAYNE 8,339,284,877 8,274,437,960 64,846,917 3.0000 194,541 0 3.0000 194,541 2,615 2,60325SWEETWATER 1,557,673,900 1,539,789,499 17,884,401 4.5000 80,480 0 4.5000 80,480 1,901 89726VIRGINIA GARDENS 243,065,483 235,741,374 7,324,109 5.1500 37,719 0 5.1500 37,719 403 34027HIALEAH GARDENS 1,091,423,081 1,050,180,751 41,242,330 5.1613 212,864 0 5.1613 212,864 3,915 2,21428AVENTURA 9,901,694,244 9,746,979,978 154,714,266 1.7261 267,052 0 1.7261 267,052 8,405 6,62031SUNNY ISLES 10,111,428,895 10,040,021,372 71,407,523 2.4000 171,378 0 2.4000 171,378 3,836 3,09932MIAMI LAKES 2,809,602,232 2,666,405,200 143,197,032 2.3353 334,408 0 2.3353 334,408 6,492 5,93933PALMETTO BAY 2,659,717,359 2,509,332,963 150,384,396 2.3292 350,275 0 2.3292 350,275 6,313 6,10234MIAMI GARDENS 3,840,502,830 3,756,833,069 83,669,761 6.9363 580,359 1.1571 96,814 8.0934 677,173 19,036 5,06635DORAL 11,134,952,688 10,986,390,114 148,562,574 1.9000 282,269 0 1.9000 282,269 6,536 6,13736CUTLER BAY 2,234,838,286 2,082,458,975 152,379,311 2.3907 364,293 0 2.3907 364,293 9,364 7,01716,085,472 666,339 16,751,811COUNTY-WIDE 251,337,011,475 245,157,773,498 6,179,237,977 4.6669 28,837,886 0.4000 2,471,695 5.0669 31,309,581 419,523 272,04730U.M.S.A. 66,613,469,754 63,540,718,732 3,072,751,022 1.9283 5,925,186 0 1.9283 5,925,186 207,482 135,011FIRE-RESCUE 140,871,793,499 136,237,640,678 4,634,152,821 2.4207 11,217,894 0.0075 34,756 2.4282 11,252,650 317,519 204,543LIBRARY 230,877,177,404 225,238,989,132 5,638,188,272 0.2840 1,601,245 0 0.2840 1,601,245 367,718 246,556TOTAL COUNTY IMPACT47,582,211 2,506,451 50,088,662S.F.W.M.D. 253,337,152,718 247,031,856,551 6,305,296,167 0.1359 856,890 0 0.1359 856,890 419,523 278,928EVERGLADES CONS PROJ 253,337,152,718 247,031,856,551 6,305,296,167 0.0471 296,979 0 0.0471 296,979 419,523 278,928OKEECHOBEE BASIN 253,337,152,718 247,031,856,551 6,305,296,167 0.1477 931,292 0 0.1477 931,292 419,523 278,928F.I.N.D. 253,337,152,718 247,031,856,551 6,305,296,167 0.0320 201,769 0 0.0320 201,769 419,523 278,928THE CHILDREN'S TRUST 253,337,152,718 247,031,856,551 6,305,296,167 0.5000 3,152,648 0 0.5000 3,152,648 419,523 278,928SCHOOL BOARD 284,845,924,926 284,845,924,926 0 7.1380 0 0.1840 0 7.3220 0 419,523 0Values based on the 2016 Preliminary Assessment Roll2) All other exemptions are applied at their 2016 values except for the Veterans and Military Deployment abatements which are based on a percentage of the pre-abatement taxable value. Those abatements will be lower as the percentage will be applied against a lower taxable value.MIAMI-DADE COUNTYPROPERTY APPRAISERFiscal Impact of the Additional Homestead Banding to the $100,000 to $125,000 Range in Assessed ValueAPRIL 27, 2017Estimated Fiscal Impact of an Additional Homestead Exemption (Banding) to $100,000 and $125,000 Range of Assessed ValueDebt Service Total ImpactCOUNTYAdditional $25,000 Homestead Banding OperatingTOTAL MUNICIPAL IMPACTMUNICIPALITIES3) This legislation only applies to counties, municipalities, water districts, and independent special districts. It is not applied to School Board values.OTHERSASSUMPTIONS AND LIMITATIONS:1) An additional Homestead Exemption is applied to values between $100,000 and $125,000. Currently, the additional exemption applies to values between $50,000 and $75,000. Taxes will be paid on values between $75,000 and $100,000.