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Res No 070-20-15510RESOLUTION NUMBER: 070-20-15510 A Resolution of the City of South Miami, Florida, relating to the City's 2020/2021 fiscal year budget; advising the Miami -Dade County Property Appraiser of its proposed millage rate of 4.3000 mills; its rolled -back rate of 3.7250 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 (1) 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 July 01, 2020; 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 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 shall advise the property appraiser that the proposed millage rate of the City of South Miami, Florida for the 2020/2021 fiscal year budget is 4.3000 mills which is a 15.44% increase over the rolled back rate and that the rolled -back rate, computed pursuant to sub -section (1) of Florida Statute 200.065, is 3.7250 mills. Section 3. 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 8, 2020 at 6:00 p.m., in the City Commission Chambers at 6130 Sunset Drive, South Miami, Florida (Chambers) or, if the Governor has suspended the requirement for the physical presence of a quorum, then on the Zoom Media Technology Communication platform with communication being transmitted from Chambers and other remote locations; Second Budget Hearing, September 22, 2020 at 6:00 p.m., in the City Commission Chambers at 6130 Sunset Drive, South Miami, Florida (Chambers) or, if the Governor has suspended the requirement for the physical presence of a quorum, then on the Zoom Media Page I of 2 Res. No. 070-20-15510 Technology Communication platform with communication being transmitted from Chambers and other remote locations. Section 4. 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 S. 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 6. Effective Date. This resolution shall become effective immediately upon adoption by vote of the City Commission. PASSED AND ADOPTED this 7u' day of July. 2020. ATTEST: 04 CITY &LERK 6 READ AND APPROVED AS TO FORM, LANGUAGE, LEGALITY AND. EXEC P-iEREOF C ATTORNEY APPROVED: MAYOR Page 2 of 2 COMMISSION VOTE: 5-0 Mayor Philips: Yea Vice Mayor Welsh: Yea Commissioner Gil: Yea Commissioner Harris: Yea Commissioner Liebman: Yea Agenda Item No:7. City Commission Agenda Item Report Meeting Date: July 7, 2020 Submitted by: Jaclyn Cuesta Submitting Department: Finance Department Item Type: Resolution Agenda Section: Subject: A Resolution of the City of South Miami, Florida, relating to the City's 2020/2021 fiscal year budget; advising the Miami -Dade County Property Appraiser of its proposed millage rate of 4.3000 mills; its rolled -back rate of 4.0885 mills, and announcing the date, time and place of public hearing to consider the proposed millage rate and tentative budget. 3/5 (City Manager -Finance Dept.) Suggested Action: Attachments: MiIlage_Memo_FY_21_FINAL.docx MiIIage_Res_FY_21_FINALCArev.docx DR-420 - FY 21. pdf DR-420MMP - FY 21.pdf 2020-taxing-authority-reports. pdf 2020 PreIiminaryTaxable Value Chart.xlsx.pdf 2020-taxing-authority-reports. pdf 2020-preliminary-senior-exemptions. pdf South Miami THE CITY OF PLEASANT LIVING CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER -OFFICE MEMORANDUM To: The Honorable Mayor & Members of the City Commission From: Shari Karnali, City Manager Copy: Alfredo Riverol, CPA, CRFAC, CGFM, CGMA, Chief Financial Officer Date: July 7, 2020 Subject: Tentative Millage Rate for FY 2020-2021 Request: A Resolution of the City of South Miami, Florida, relating to the City's 2020/2021 fiscal year budget; advising the Miami -Dade County Property Appraiser of its proposed millage rate of 4.3000 mills; its rolled -back rate of 4.0885 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 $2,073,136,890. Before the effects of inflation are factored into the calculation, this valuation represents a 4.33% increase from the FY 2019-20 level of $1,987,072,238. Maximum Milia e 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, not the City of South Miami, sets the assessable taxable property valuation, based on many factors including State Law such as Homestead exemptions, 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 determined by multiplying the millage rate, times each $1,000 of assessable property taxable value. Page 1 of 6 2 Local jurisdictions, including municipalities, are required to establish and publish a maximum millage rate during the budget process as mandated by Florida Statute 200.065, which requires that within 35 days of receiving the Certificate of Value, (Certification of Value was made on July 1, 2020) each taxing authority shall advise the property appraiser of its proposed millage rate, its rolled -back rate computed pursuant to sub -section (1) 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 TRIM advertised rate during the budget process, but it cannot be increased except under extraordinary circumstances. At this point in the budget process the City is simply establishing a maximum millage rate for budget flexibility and advertising purposes. For every change of one -tenth of the millage rate, the ad valorem revenue generated is increased or decreased by an estimated $200,000. Financial Outlook for FY 2020-2021 Fiscal Year As you are aware, COVID-19 continues to be a concern. The coronavirus outbreak continues to rise, bringing continuous record -breaking spikes in infections since the reopening of restaurants, bars, gyms, and other public places. COVID-19 has badly damaged Florida's economy and as social distancing and the needed "New Normal" rules are implemented, it will take time for Florida's delicate economy to rebound and thrive. Furthermore, Florida's unemployment rate was 14.5% in May 2020, in comparison, Florida's unemployment rate in May of 2019 was 3.2%, that reflects an increase of 11.3% in 12 short months. According to the U.S. Bureau of Labor Statistics (BLS), when workers are unemployed, their families lose wages, and the nation as a whole loses their contribution to the economy in terms of the goods or services that could have been produced. Unemployed workers also lose their purchasing power, which can lead to unemployment for other workers, creating a cascading effect that ripples through the economy. Because of the above, the City of South Miami Administration focused on reducing fiscal year 2020-2021 operational expenses in an effort to meet the reduction of the forecasted revenues for FY 2021, without increasing the millage rate and/or eliminating or reducing the current level of service provided to the City of South Miami residents. The City Administration currently forecasts, as of July 1, 2020, a 1% overall revenue reduction from the adopted FY 2020 forecasted revenues, providing a monetary loss of an estimated $189,399. The overall revenue forecast takes into account numerous estimated losses, parking revenue being the single largest at 21%, and being off -set by certain revenue increases, including the increase in ad valorem revenue of approximately 4.33%, providing for the overall 1% forecasted revenue reduction. Page 2 of 6 3 As mentioned in prior years, parking revenues have been on a downward trend for a while because of other outside externalities like ride -sharing programs, closing of key businesses, and more importantly, the delay in reopening of previously existing major commercial entities, and reductions in overall consumer traffic in the downtown area. The issue of COVID-19 is only adding to the decrease in parking revenues as many regular visitors to South Miami continue to be concerned about the potential of the virus, hence are staying home. 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 4.0885. The City's current millage rate of 4.3000 represents a 5.17% increase over the rolled -back rate. If the City were to adopt the rolled -back rate of 4.0885, the City's estimated Ad Valorem revenue would decrease by an estimated $416,545 when compared to the City's proposed FY 2020 Ad Valorem revenue estimate. Page 3 of 6 4 Please find the Millage Calculation table below. MILLAGE CALCULATION COMPARISON (PROPOSED) ADOPTED PROPOSED EST. ACCOUNT CLASSIFICATION MILLAGE MILLAGE DIFF FY 2019-2020 FY 2020-2021 MILLAGE RATE 4.3000 4.3000 0.00% REAL PROPERTY TAXABLE VALUE 1,917,803,879 1,999,537,1 15 ` 4.26% PERSONAL PROPERTY TAXABLE VALUE 69,268,359 73,599,775 6.25% TOTAL TAXABLE VALUE (REAL AND 1,987,072,238 2,073,136,890 j 4.33% PERSONAL PROPERTY) I AD VALOREM REVENUE 8,544,411 8,914,489 I 370,078 8,468,764 $351,574 95% OF TAXABLE VALUE (TO ALLOW FOR 8,1 17,190 DELETIONS & DELINQUENCIES) MILLAGE CALCULATION (ROLLED -BACK) PROPOSED ROLLED -BACK EST. ACCOUNT CLASSIFICATION MILLAGE MILLAGE DIFF FY 2019-2020 FY 2020-2021 MILLAGE RATE 4.3000 4.0885 -5.17% REAL PROPERTY TAXABLE VALUE 1,917,803,879 1,999,537,1 15 4.09% PERSONAL PROPERTY TAXABLE VALUE 69,268,359 73,599,775 f 5.899 TOTAL TAXABLE VALUE (REAL AND 1,987,072,238 2,073,136,890 ' 4.15% } PERSONAL PROPERTY) AD VALOREM REVENUE 8,544,411 8,476,020 -68,390 I 95% OF TAXABLE VALUE (TO ALLOW FOR 8,1 17,190 8,052,219 I-$64,971 DELETIONS & DELINQUENCIES) DIFFERENCE -416,545 The City experienced an overall assessed real property value increase of $81,733,236 or 4.26%. Thankfully, the Property Tax Valuation is calculated using values from January 1, 2019 through December 31, 2019, just before the world went into a full shut down. The City currently does not see issues related with Property Tax Revenue for the FY 2021 budget; however, Finance expects major property tax value reduction for fiscal year 2022 and it is critical that we begin preparing now in fiscal year 2021, in anticipation of what is expected to come in FY 2022. 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 decreased by $4,331,416 or 6.25% when comparing the assessed value of FY 2020-21 and FY 2019-20. Page 4 of 6 5 The increase in property valuations specifically from construction within the current 2020 year is $14,879,823 which represents an increase from the previous year of $3,882,038 or 35%. RECOMMENDATION The Administration is proposing a millage rate of 4.3000 mills for FY 2020-21, which is equivalent to the City's FY 2019-20 existing millage rate. The possible continuation of revenue slippage from parking revenues, and other State shared revenue 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 and help strengthen the City's financial position for the future. 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 during the FY 20-21 budget hearings in September of 2020 only for rates lower than what is set tonight by the attached Resolution. 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 Tuesday, August 11, 2020 City of South Miami City Hall 10:00 AM Commission Chambers or Zoom 6130 Sunset Drive South Miami, FL 33143 Additionally, the required budget hearings are proposed for the following dates: First Budget Hearing Tuesday, September 8, 2020 City of South Miami City Hall 6:00 PM Commission Chambers or Zoom 6130 Sunset Drive South Miami, FL 33143 Second Budget Hearing Tuesday, September 22, 2020 City of South Miami City Hall 6:00 PM Commission Chambers or Zoom 6130 Sunset Drive South Miami, FL 33143 Page 5 of 6 6 NOTE: Pertinent meetings scheduled as of this date include: Miami -Dade County Budget Hearings: 9-03-20 and 9-17-20 at 5 PM Miami -Dade County School Board Budget Hearings: 7-29-20 and 9-09-20 at 6 PM Attachments — Proposed Resolution — DR-420 & 420MM-P (DRAFTS) — 2020 Tax Roll by Property Type — 2020 Year -to -Year -Comparison 2020 Preliminary Tax Roll by Taxing Authority 2020 Preliminary Senior Exemption Miami -Dade County Preliminary Average Taxable Homestead Residential Value Page 6 of 6 7 N I CERTIFICATION OF TAXABLE VALUE FLORIDA Reset Form Print Form DR-420 R. 5/12 Rule 1213-16.002 Florida Administrative Code Effective 11 /12 Year: 2020 County: MIAMI-DADE Principal Authority: Taxing Authority: CITY OF SOUTH MIAMI CITY OF SOUTH MIAMI SECTION 1: COMPLETED BY PROPERTY APPRAISER 1. Current year taxable value of real property for operating purposes $ 1,999,537,115 (1) 2. Current year taxable value of personal property for operating purposes $ 73,599,775 (2) 3. Current year taxable value of centrally assessed property for operating purposes $ 0 (3) 4. Current year gross taxable value for operating purposes (Line 1 plus Line 2 plus Line 3) $ 2,073,136,890 (4) Current year net new taxable value (Add new construction, additions, rehabilitative 5. improvements increasing assessed value by at least 100%, annexations, and tangible $ 14,879,823 (5) personal property value over 115% of the previous year's value. Subtract deletions.) 6. Current year adjusted taxable value (Line 4 minus Line 5) $ 2,058,257,067 (6) 7. Prior year FINAL gross taxable value from prior year applicable Form DR-403 series $ 1,956,998,519 (7) 8 Does the taxing authority include tax increment financing areas? If yes, enter number YES 0✓ NO Number (8) 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 Number 9. �years or less under s. 9(b), Article VII, State Constitution? If yes, enter the number of YES NO (9) DR-420DEBT, Certification of Voted Debt Millage forms attached. If none, enter 0 0 Property Appraiser Certification I 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 7/1 /2020 1:00 PM SECTION II : 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 per $1,000 (10) millage from Form DR-422) 4.3000 11. Prior year ad valorem proceeds (Line 7 multiplied by Line 10, divided by 1,000) $ 8,415,094 (11) 12 Amount, if any, paid or applied in prior year as a consequence of an obligation measured by a $ (12) dedicated increment value (Sum of either Lines 6c or Line 7a for all DR-420TIF forms) 0 13. Adjusted prior year ad valorem proceeds (Line 11 minus Line 12) $ 8,415,094 (13) 14. Dedicated increment value, if any (Sum of either Line 6borLine 7efor al/DR-420TIFforms) $ 0 (14) 15. Adjusted current year taxable value (Line 6 minus Line 14) $ 2,058,257,067 (15) 16. Current year rolled -back rate (Line 13 divided by Line 15, multiplied by 1,000) 4.0885 per $1000 (16) 17. Current year proposed operating millage rate 4.3000 per $1000 (17) (18) 18 Total taxes to be levied at proposed millage rate (Line 17 multiplied by Line 4, divided by 1,000) $ 8,914,489 Continued on page 2 10 19. TYPE of principal authority (check one) ❑ County ❑ Independent Special District ✓1 Municioality n Water Management District 20. Applicable taxing authority (check one) ❑✓ Principal Authority ❑ MSTU 21. Is millage levied in more than one county? (check one) ❑ Yes i,11 No DR-420 R. 5/12 Page 2 ❑ Dependent Special District (20) ❑ Water Management District Basin (21) DEPENDENT SPECIAL DISTRICTS AND MSTUs STOP HERE - SIGN AND SUBMIT 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 (Line22 divided by Line 15, multiplied by 1,000) 24. Current year aggregate rolled -back taxes (Line 4 multiplied by Line 23, divided by 1,000) $ 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 1,000) 27 Current year proposed rate as a percent change of rolled -back rate (Line 26 divided by Line 23, min multiplied by 100) 8,415,094 (22) (23) (24) (25) (26) 4.0885 per $1,000 8,476,020 8,914,489 4.3000 per $1,000 5.17 % (27) First public rat' : Time: Place: bud et hearin 6130 Sunset Drive, South Miami, FL 33143 Phone: 305-663- 9 9 /8/2020 6:00 PM EST 6343 S G N H E R E Taxing 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 either s. 200.071 or s. 200.081, F.S. Signature of Chief Administrative Officer: Title: SHARI KAMALI, 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: Fax Number: 305-663-6343 305-663-6346 Instructions on page 3 11 CERTIFICATION OF TAXABLE VALUE INSTRUCTIONS "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 DR-420 R. 5/12 Page 3 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. All TRIM forms for taxing authorities are available on our website at http:lld or.myflori da.co m/d c rlp rop a rty/tr i m 12 Reset Form Print Form MAXIMUM MILLAGE LEVY CALCULATION DR42RMM12 PRELIMINARY DISCLOSURE 1 16.002 Florida AdministrativeRulDCode FLORIDA For municipal governments, counties, and special districts Effective 11/12 Year: 2020 County: MIAMI-DADE Principal Authority: Taxing Authority: CITY OF SOUTH MIAMI CITY OF SOUTH MIAMI 1 Is your taxing authority a municipality or independent special district that has levied Yes No (1) ad valorem taxes for less than 5 years? IF YES, I a 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 4.0885 per $1,000 (2) 3. Prior year maximum millage rate with a majority vote from 2018 Form DR-420MM, Line 13 4.9776 per $1,000 (3) 4. Prior year operating millage rate from Current Year Form DR-420, Line 10 4.3000 per $1,000 (4) If Line 4 is equal to or greater than Line 3, skip to Line 11. If less, continue to Line 5. Adjust rolled -back rate based on prior year majority -vote maximum millage rate 5. Prior yearfinal gross taxable value from Current Year Form DR-420, Line 7 $ 1,956,998,519 (5) 6. Prior year maximum ad valorem proceeds with majority vote (Line 3 multiplied by Line 5 divided by 1,000) 7 Amount, if any, paid or applied in prior year as a consequence of an obligation $ 0 (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) $ 9,741,156 (8) 9. Adjusted current year taxable value from Current Year form DR-420 Line 15 $ 2,058,257,067 (9) 10. Adjusted current year rolled -back rate (Line 8 divided by Line 9, multiplied by 1,000) 4.7327 per $1,000 (10) Calculate maximum millage levy 11. Rolled -back rate to be used for maximum millage levy calculation 4.7327 per $1,000 (11) (Enter Line 10 if adjusted or else enter Line 2) 12. Adjustment for change in per capita Florida personal income (See Line 12 Instructions) 1.0322 (12) 13. Majority vote maximum millage rate allowed (Line 11 multiplied by Line 72) 4.8851 per $1,000 (13) 14. Two-thirds vote maximum millage rate allowed (Multiply Line 13 by 1.10) 5.3736 per $1,000 (14) 15. Current year proposed millage rate 4.3000 per $1,000 (15) 16. Minimum vote required to levy proposed millage: (Check one) (16) a. Majority vote of the governing body: Check here if Line 15 is less than or equal to Line 13. The maximum millage rate is equal to the majority vote maximum rate. Enter Line 13 on Line 17. ❑ b. Two-thirds vote of governing body: Check here if Line 15 is less than 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. ❑ c. Unanimous vote of the governing body, or 3/4 vote if nine members or more: Check here if Line 15 is greater than Line 14. The maximum millage rate is equal to the proposed rate. Enter Line 15 on Line 17. ❑ d. Referendum: The maximum millage rate is equal to the proposed rate. Enter Line 15 on Line 17. The selection on Line 16 allows a maximum millage rate of $1,000 (17) 17 4.8851 per (Enter rate indicated by choice on Line 16) 18. Current year gross taxable value from Current Year Form DR-420, Line 4 $ 2,073,136,890 (18) Continued on page 2 13 Taxing Authority: DR-420MM-P CITY OF SOUTH MIAMI R. 5/12 Page 2 19. Current year proposed taxes (Line 15 multiplied by Line 18, divided by 7,000) $ 8,914,489 (19) 20 Total taxes levied at the maximum millage rate (Line 17 multiplied by Line 18, divided $ 10,127,481 (20) by 7,000) DEPENDENT SPECIAL DISTRICTS AND MSTUs I STOP HERE. SIGN AND SUBMIT. 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) 0 (21) 22. Total current year proposed taxes (Line 19 plus Line 27) $ 8,914,489 (22) Total Maximum Taxes 23. Enter the taxes at the maximum millage of all dependent special districts & MSTUs $ 0 (23) levying a millage (The sum of all Lines 20 from each district's Form DR-420MM-P) 24. Total taxes at maximum millage rate (Line 20 plus Line 23) $ 10,127,481 (24) Total Maximum Versus Total Taxes Levied FAre 25, total current year proposed taxes on Line 22 equal to or less than total taxes at the I�I YES NO �I (25) maximum millage rate on Line 24? (Check one) 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. Signature of Chief Administrative Officer: Date: G N Title: Contact Name and Contact Title: H SHARI KAMALI, CITY MANAGER ALFREDO RIVEROL, CHIEF FINANCIAL OFFICER E R Mailing Address: Physical Address: E 6130 SUNSET DR 6130 SUNSET DRIVE City, State, Zip: Phone Number : Fax Number: SOUTH MIAMI, FL 33143 305-663-6343 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 14 MAXIMUM MILLAGE LEVY CALCULATION PRELIMINARY DISCLOSURE INSTRUCTIONS 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 2019 allowed under s. 200.065(5), F.S. 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.S., 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 DR-420MM-P R. 5/12 Page 3 Only taxing authorities that levied a 2018 millage rate less than their maximum majority vote rate must complete these lines. The adjusted rolled -back rate on Line 10 is the rate that would have been levied if the maximum vote rate for 2018 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.S.), 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. 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Q Q OC z z o Lu LL o LLI ~ 66 LU IA Ix G U JF— ZCL �� LL LU LU LU z H� OC LLI a vL L O z H J Ln � u Q u > LMU = J {n Q av,U�u?a>?0 z 0 N a W oc J a a MIAMI-DADE COUNTY PROPERTY APPRAISER'' 2020 Taxable Values by Taxing Authority �1 JULY 1, 2020 TAXING AUTHORITY 2019 PRELIMINARY TAXABLE VALUE 2020 TAXABLE VALUE BEFORE NEW CONSTRUCTION PERCENT CHANGE NEW CONSTRUCTION NET CHANGE 2020 PRELIMINARY TAXABLE VALUE PERCENT CHANGE FROM 2019 01 MIAMI 58,961,599,417 60.345,785,262 2.3% 2,661,857,460 4,046,043,305 63.007,642,722 6.9% 0101 MIAMI (DDA) 21,190,968,140 21.005,409,904 -0.9% 1,596,590,448 1.411,032,212 22,602,000,352 6.7% 02 MIAMI BEACH 40,098,892,459 40.429,722,472 0.8% 1,313,276.514 1,644,106,527 41,742,998,986 4.1% 0201 MB NORMANDY SHORES 223,704,445 233,297,993 4.3% 9,459.518 19,053,066 242,757,511 8.5% 03 CORAL GABLES 16,936,366,618 17,297,046,117 2.1% 152,785,364 513.464,863 17,449,831,481 3.0% 04 HIALEAH 11,306,060,963 12,307,546.384 8.9% 174,490,979 1,175,976.400 12,482,037,363 10.4% 05 MIAMI SPRINGS 1,256,462,625 1,310,296,528 4.3% 13,545,817 67,379,720 1,323,942,345 5.4% 06 NORTH MIAMI 3,386,305,971 3,595,356,925 6.2°% 144,313,021 353,363,975 3,739,669,946 10.4% 07 NORTH MIAMI BEACH 3,399,037,695 3,499,602,262 3.0% 30,311,549 130,876,116 3,529,913,811 3.9% 08 OPA-LOCKA 1,154,438,679 1.234,699.350 7.0% 877,661 81,138,332 1,235,577,011 7.0% 09 SOUTH MIAMI 1,987.072,238 2,058,257,067 3.6% 14,879,823 86,064.652 2,073,136,890 4.3% 10 HOMESTEAD 3,143,709,627 3,364,247,836 7.0% 120,037,970 340,576,179 3,484,285,806 10.8% 11 MIAMI SHORES 1,196,387,229 1,253,394.660 4.8% 3,912,801 60,920,232 1,257,307,461 5.1% 12 BAL HARBOUR 5,500,117,826 5,277,808.354 -4.0% -817,848 -223,127,320 5,276.990,506 -4.1% 13 BAY HARBOR ISLANDS 1,333,876,001 1.287,015,049 -3.5% 91,206,651 44,345,699 1,378,221,700 3.3% 14 SURFSIDE 3,116,633.395 3,072,679,855 -1.4% 53,357,162 9.403,622 3,126,037,017 0.3% 15 WEST MIAMI 569,834,358 599,611,221 5.2% 53,473,939 83,250,802 653,085,160 14.6% 16 FLORIDA CITY 559.584,262 612,768,117 9.5% 24,061,402 77.245,257 636,829,519 13.8% 17 BISCAYNE PARK 231,201,560 248.180,215 7.3% 1,107,926 18,086,581 249,288,141 7.8 % 18 EL PORTAL 167,848,153 181,417,095 8.1% 541.368 14,110,310 181,958,463 8.4% 19 GOLDEN BEACH 1,160,543,438 1,163,267,398 0.2% 16,254,105 18,978,065 1,179,521,503 1.6% 20 PINECREST 5,025,067,161 5.095,573,339 1.4% 59,024,174 129,530,352 6,154,597,513 2.6% 21 INDIAN CREEK 653,264,284 678,540,392 3.9% -215,561 25,060,547 678,324,831 3.8% 22 MEDLEY 2,419,004,278 2,608,986.956 7.9% 39,422,858 229,405,536 2,648,409,814 9.5% 23 N. BAY VILLAGE 1,091,206,289 1,062,193,571 -2.7% 21,578,312 -7,434,406 1,083,771,883 -0.7% 24 KEY BISCAYNE 8,310,656.693 8,186,233.001 -1.5% 16,418.482 -108,005,210 8,202,651,483 -1.3% 25 SWEETWATER 1,853,737,333 1,924,275,816 3.8% 52,348,593 122,887,076 1,976,624,409 6.6% 26 VIRGINIA GARDENS 266,608,319 276,088,922 3.6% 284,609 9,765.212 276,373,531 3.7% 27 HIALEAH GARDENS 1,382,828,298 1.477,328,888 6.8% 14,691,080 109,191,670 1,492,019,96E 7.9% 28 AVENTURA 10,740,186,632 10,458,138.393 -2.6% 92,078,481 -189,969,758 10,550,216,874 -1.8% 30 UNINCORPORATED 82,361,962,711 86,152,331,989 4.6% 1,116,962,256 4,907,331,534 87,269,294,245 6.0% 31 SUNNY ISLES BEACH 11,568,495,663 10,971,897,147 -5.2% 943.614,945 347.016.429 11,915,512,092 3.0% 32 MIAMI LAKES 3,365,592,016 3,476,922,271 3.3% 160,033,451 271,363,706 3,636,955,722 8.1% 33 PALMETTO BAY 3,053,651,042 3,150,332,315 3.2% 49.229,652 145,910,925 3,199,561,967 4.8% 34 MIAMI GARDENS 4,955.640,419 5,264,692,671 6.2% 81,537,721 390,589.973 5,346,230,392 7.9% 35 DORAL 13,715,630.586 13,837,882,902 0.9% 484,101,622 606,353,938 14,321,984,524 4.4% 36 CUTLER BAY 2,650,512,622 2,762,536,263 4.2% 4,989,036 117,012,677 2,767,525,299 4.4% COUNTY -WIDE 308,641,4S7,718 316,381,400,947 2.5% 7,981,596,217 15,721,539,446 324,362,997,164 5.1 % FIRE AND RESCUE 173,237.599,110 177,951,773.997 2.7% 3,663,571,148 8.377,746,035 181,615,345,145 4.8% LIBRARY 280,962,317,536 287,255,334,824 2.2% 4,360,187.177 10,653,204.465 291,615,522,001 3.8% SCHOOLBOARD 339,593,162,438 345,199,784,439 1.7% 7,983,660,629 13,590,262,630 353,183,445,068 4.0% S FL WATER MNGT DIST 310,905.785.149 318,578.842,261 2.5% 7,983,660,629 15,656,717,741 326,562,502,890 5.0% FL INLAND NAV DIST 310,905,785,149 318.578,842,261 2.5% 7.983,660,629 15.656,717,741 326,562,502,890 5.0% THE CHILDREN'S TRUST 310.905.785,149 318,578.842.261 2.5% 7,983.660.629 15,656,717.741 326,562,502,890 5.0% 17 OD 1'1 a W a a co W Z V J Z Z V d W Q Z 0 y co W y N a Q Q0 N?, d' d H i m a E 0 u m fA cc E in rA N N L m .cu L a .C� L t 3 0 N 0 u O N N Ln W O N M O O M W O O 4* O -e Z ri tD 00 M W C1 M O O1 Oi .1 00 [t W t0 V tD Ln 3 r-I o Ln O1 t^D N 0010 .-1 LLnn 0 Ln 0 WLn Z ri Ln ri O O G G O o G O T O dlO M O 00 N r-i Ct tD 00 m M m M1 Ln M 4 ri N 4 N c7i 4 tC li rci tD r-1 W LL rn O 0 ri t0 01 00 01 -e O lD tD N J LL N N N O r-I 00 M O n O M r-I Ln m 0 O N N W 01 W N1* 1D Q W ri Ln 00 00 M Ol I, N N M r-I a x = 01 00 Ln M N Rt I- Ln 0) 00 M rn l0 Q J t tD O tD M Ln N Ct N N M O F- a 00 M 00 N N N cr I tp ` / -* 1 -1 cc co M N m m Ln N tD tD T m Ln Ln O 00 O ri m tD Ln 00 rn N rn ri I- M J 01 r-I 00 N N M r-1 n tD n r'i N 00 N Q W H t6 I� t0 ry 00 r-I Lr1 N' r, n n 01 t0 O Lr1 00 N N m O tD m 00 m-e 00 C 00 O Ol "T ri tD M Ln 0) Ln n9 J W m ri uo Nr-I N rn r-I In r-I N 01 tD Oai 1 O C Q � Z W m N Ln Ln tD M O O1 Ln O 00 Ln M 00 Ln ri to Ln n -cT Co 00 tD LT I- N J J O1 N N N 0) W N -i Ln Ln 00 O C1 W Q cc > N rl M 00 �e N ri -;1-tD ryi 0 T 00 M 00 a-1 a tD 00 tD 0 O qt N O1 tD to O tD v ri m m w M o M M M N LA ri M n .D n M N N O Lr L!1 Ln O O Lnrr-1 i tD -4 tD O r-I CA N r- r�-I 0c0 rr-I CD ri N N W O N m 00 m m-,t Ln O m O1 O1 to 00 m Ln g to w * m N Ln m tD o r-I O o 00 tD m 00 M WQ > J W Q m q Lr1 O ON m a -I' O W N a-1 00 tD N tD ri Di tD M'�t N tD O tD -4 00 00 N -:F N Ln Ln O -;t M Lr1 m 00 ry O 00 r^i G1 00 tD N t0 a � Z C W lD m-ct N N 00 N-* O Ln a l r-I e N M tD rn CO r-1 N O N en W �L J N 00 N O O N m -4 00 * O m W Q a t~n O r- 00 w frl t 01 O ri 01 r 1 rl ri Ln 00 -4-4 N Ln Ln 01 w n O Ln k6 r-I Lr N m fr1 O M m 00 tD Lr1 O m r-I O ri ri m 01 O 00 N o N Ll1 r% W rf N 01 N rn O rCD M1 N ri N t- O r-I M a-1 I- N O Ln tD N N N = W 00 W N M Ct tD N N N m � r-I ri N N O L7 N 0 cc W a M LL J C7 Z In Z Z= Ov J LLRcRR J 2 Q U G Ov a N Q z w 0 U Q>? Z =za Z Q u Z O L: z- w CC >= C07 Ln W 0 w O H J LLI u cc H �o W a � < Q Z 0-6 a cc d a r♦ N N !t R N O N 01 7 W a O w a Cl W LA W H N a J J 4 MIAMI-DADE COUNTY PROPERTY APPRAISER _ 2019 Senior and Long -Term Resident Senior Exemptions JULY 1, 2018 LONG-TERM RESIDENT SENIOR EXEMPTIONS SENIOR EXEMPTIONS Municipality Count Exemption Value Count Exemption Value 01 Miami 5,800 238,293,078 1,146 9,533,194 02 Miami Beach 1,007 42,094,083 126 937,915 03 Coral Gables 282 13,623,683 13 215,484 04 Hialeah 6,223 262,137,498 1,553 15,312,695 05 Miami Springs 201 9,601,210 0 0 06 North Miami 594 21,374,529 141 994,852 07 North Miami Beach 591 20,773,121 0 0 08 Opa-locka 153 4,278,721 63 164,834 09 South Miami 99 4,594,596 0 0 10 Homestead 393 13,153,685 35 226,203 11 Miami Shores 0 0 0 0 12 Bal Harbour 13 550,000 0 0 13 Bay Harbor Islands 61 2,337,785 3 98,751 14 Surfside 83 4,046,378 0 0 15 West Miami 220 10,852,908 0 0 16 Florida City 0 0 0 0 17 Biscayne Park 32 1,599,717 0 0 18 El Portal 35 1,592,143 0 0 19 Golden Beach 0 0 0 0 20 Pinecrest 56 2,567,597 1 0 21 Indian Creek 0 0 0 0 22 Medley 9 262,268 4 10,481 23 North Bay Villae 72 2,804,723 10 34,216 24 Key Biscayne 53 2,550,000 0 0 25 Sweetwater 335 14,221,950 0 0 26 Virginia Gardens 41 1,887,712 11 283,751 27 Hialeah Gardens 483 19,555,788 63 394,248 28 Aventura 721 17,354,573 0 0 30 Unincorporated 19,219 801,764,006 3,127 19,882,563 31 Sunny Isles Beach 471 21,335,921 0 0 32 Miami Lakes 397 18,598,716 11 78,617 33 Palmetto Bay 147 7,045,963 5 10,074 34 Miami Gardens 1,859 65,826,266 795 3,690,191 35 Doral 240 11,572,264 10 243,735 36 Cutler Bay 414 18,369,148 76 916,972 County 40,425 1,671,829,243 7,474 55,182,993 19