Res No 076-20-15516RESOLUTION NUMBER: 076-20-15516
A Resolution of the Mayor and aty Commission for the City of South Miami,
Florida, relating to the City's budget and millage rate, Instructing the City
Manager to present a budget and millage rate proposal seeking to provide a
10% millage reduction once the Certificate of Occupancy has been Issued by
the City's Building Department for Shops at Sunset Place Project.
WHEREAS, the future development, when completed, will provide the City with a
substantial amount of new taxable assessed value; and
WHEREAS, the new taxable assessed value from the development could be used to
help reduce the existing millage rate, which is currently the lowest millage rate In the City's
recent history, and
WHEREAS, a 1096 reduction in the current millage would bringing the millage to
3.8700 and will help alleviate the property tax burden to the City's property owners and
residents; and
WHEREAS, the reduction in millage, if all conditions remain substantially the same
as the City's current financial situation, should still provide the City with enough ad valorem
revenue to help sustain and improve the City's existing and future services.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF
THE CITY OF SOUTH MIAMI, FLORIDA THAT:
Section 1. The foregoing recitals are hereby ratified and confirmed as being true
and they are incorporated into this resolution by reference as if set forth in full herein.
Section 2. The City Administration is hereby instructed to present a budget and
millage rate proposal at the appropriate time of the year once the Certificate of Occupancy
has been issued by the City's Building Department for Shops at Sunset Place seeking to
reduce the City's millage rate, which is currently at 4.3000, by 10%, which, if it occurred
before the end of the current fiscal year, would lower the existing millage rate to 3.8700.
Section 3. Corrections. Conforming language or technical scrivener -type
corrections may be made by the City Attorney for any conforming amendments to be
Incorporated into the final resolution for signature.
Section 4. 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.
Section S. Effective Date. This resolution shall become effective immediately upon
adoption by vote of the City Commission.
Page I of 2
Res. No. 076-20-15516
PASSED AND ADOPTED this 71h day of July, 2020.
ATTEST:
.A
CITY CLERK r
READ AND APPROVED AS TO FORM,
LANGUAGE, LEGALITYA. D
EXE0-MCiy THEREO
CI ATTORNEY
Page 2 of 2
APPROVED:
COMMISSION VOTE:
4-1
Mayor Philips:
Yea
Vice Mayor Welsh:
Nay
Commissioner Gil:
Yea
Commissioner Harris:
Yea
Commissioner Liebman:
Yea
Agenda Rem No:12.
City Commission Agenda Item Report
Meeting Date: July 7, 2020
Submitted by: Samantha Fraga-Lopez
Submitting Department: City Manager
Rem Type: Resolution
Agenda Section:
Subject:
A Resolution of the Mayor and City Commission for the City of South Miami, Florida, relating to the City's budget
and millage rate, instructing the City Manager to present a budget and millage rate proposal seeking to provide a
7% millage reduction once the Certificate of Occupancy has been issued by the City's Building Department
Shops at Sunset Place. 3/5 (Commissioner Liebman)
Suggested Action:
Attachments:
Resolution Decreasing the MiIIage by 7%Compared.docx
test 2Ad Valorem Cert of Taxable Value Analysis FY 20.xlsx
MILLAGE CALCULATION COMPARISON
ADOPTED
TEST
EST.
ACCOUNT CLASSIFICATION
MILLAGE
MILLAGE
DIFF
FY 2019-2020
FY 2019-2020
MILLAGE RATE
4.3000
4.3000
0.00%
REAL PROPERTY TAXABLE VALUE
1,917,803,879
1,917,803,879
0.00%
INCREASE IN TAXABLE VALUE
225,000,000
TOTAL TAXABLE VALUE
1,917,803,879
2,142,803,879
11.73%
AD VALOREM REVENUE
8,246,557
9,214,057
9671,S00
95% OF TAXABLE VALUE (TO ALLOW FOR
7,834,229
8,753,354
$9 19, 125
DELETIONS & DELINQUENCIES)
MILLAGE CALCULATION COMPARISON
ADOPTED
TEST
EST.
ACCOUNT CLASSIFICATION
MILLAGE
COMPARE
DIFF
FY 2019-2020
FY 2019-2020
MILLAGE RATE
4.3000
3.9999
93.02%
REAL PROPERTY TAXABLE VALUE
1,917,803,879
1,917,803,879
0.00%
INCREASE IN TAXABLE VALUE
225,000,000
TOTAL TAXABLE VALUE
1,917,803,879
2,142,803,879
1 1.73%
AD VALOREM REVENUE
8,246,557
8,571,001
324,445
95% OF TAXABLE VALUE (TO ALLOW FOR
7,834,229
8,142,451
$308,222
DELETIONS & DELINQUENCIES)