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Res No 060-25-16352RESOLUTION NO.060-25-16352 A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA,DECLARING,AS REQUIRED BY SECTION 200.065,FLORIDA STATUTES,THE CITY’S PROPOSED MILLAGE RATE,ROLLED-BACK RATE COMPUTED PURSUANT TO SECTION 200.065(1),FLORIDA STATUTES,AND THE DATE,TIME,AND PLACE AT WHICH THE FIRST AND SECOND PUBLIC BUDGET HEARINGS WILL BE HELD TO CONSIDER THE PROPOSED MILLAGE RATE AND THE TENTATIVE BUDGET FOR FISCAL YEAR 2025-2026;DIRECTING THE CITY MANAGER AND CITY CLERK TO TRANSMIT AND FILE THIS RESOLUTION WITH THE MIAMI-DADE COUNTY PROPERTY APPRAISER;AUTHORIZING THE CITY MANAGER TO CHANGE BUDGET HEARING DATES,IF NEEDED;AND PROVIDING FOR CORRECTIONS AND AN EFFECTIVE DATE. WHEREAS,Chapter 200,Florida Statutes,provides a procedure for the adoption of ad valorem tax and millage rates associated therewith;and WHEREAS,Section 200.065,Florida Statutes,provides for the adoption of a proposed millage rate,together with the establishment of a rolled-back millage rate computed pursuant to Section 200.065(1),Florida Statutes;and WHEREAS,on July 1,2025,the Honorable Tomas Regalado,Miami-Dade County, Property Appraiser (the “Property Appraiser”)served upon the City of South Miami (the “City”) a “Certification of Taxable Value”certifying to the City its 2025 taxable value;and WHEREAS,the provisions of Section 200.065,Florida Statutes,require that the City, within thirty-five (35)days of service of the Certification of Taxable Value,advise the Property Appraiser of the City’s proposed millage rate,the City’s rolled-back rate,and the date,time,and place at which public hearings will be held to consider the proposed millage rate and the tentative budget;and WHEREAS,in accordance with the provisions of Florida law,the City Commission is presenting the proposed millage rate,the City’s rolled-back rate,and the data,time,and place at which public hearings will be held to consider the proposed millage rate and tentative budget. NOW,THEREFORE,BE IT RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI,FLORIDA,THAT: Section 1.Recitals.That each of the above-stated recitals are hereby adopted, confirmed,and incorporated herein. Page 1 of 3 Res.No.060-25-16352 Section 2.Declaration of Proposed Millage Rate,That the proposed millage rate for the City for Fiscal Year 2025-2026 is declared to be 3.9500 mills,which is $3.9500 per $1,000.00 of assessed property within the City. Section 3.Computation of Rolled-Back Rate.That the rolled-back rate,as computed pursuant to Section 200.065,Florida Statutes,is 3.6490 mills,which is $3.6490 per $1,000.00 of assessed property within the City.The proposed millage rate is 8.25%higher than the rolled-back rate. Section 4.Schedule of Budget Hearings.That the date,time,and place of the first and second public budget hearings for the City to consider the proposed millage rate and the tentative budget and to adopt a millage rate and adopt the budget,respectively,are hereby scheduled by the City Commission as follows: DATE TIME PLACE 1st Budget Hearing September 3,2025 (Wednesday) (To consider the proposed millage rate and tentative budget) 5:01 P.M. City Commission Chambers 6130 Sunset Drive South Miami,FL 33143 2nd Budget Hearing September 16,2025 (T uesday) (To adopt a millage rate and finalize the budget) 5:01 P.M. City Commission Chambers 6130 Sunset Drive South Miami,FL 33143 Section 5.Transmittal and Filing.That the City Manager and City Clerk are directed to take all necessary steps to submit the City’s 2025 Certification of Taxable Valuable (DR-420) Form and provide a certified copy of this resolution to the Honorable Tomas Regalado,Property Appraiser of Miami-Dade County,on or before Monday,August 4,2025. Section 6.Authorization.That in the event that the Miami-Dade County Board of County Commissioners or the Miami-Dade County School Board schedule or reschedule a budget hearing on a date scheduled for a City budget hearing,the City Manager is authorized to change the date of either or both City budget hearings. Section 7,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 8.Effective Date.That this Resolution shall be effective immediately upon adoption. PASSED AND ADOPTED this 29lh day of July,2025. Page 2 of 3 Res.No.060-25-16352 ATTEST: READ AND APPROVED AS TO FORM, LANGUAGE,LEGALITY AND EXECUTION THEREOF WEISS SEROTA HELFMAN COLE &BIERMAN,P.L. CITY ATTORNEY APPROVED: MAYOR COMMISSION VOTE:5-0 Mayor Javier Fernandez:Yea Vice Mayor Brian Corey:Yea Commissioner Steve Calle:Yea Commissioner Danny Rodriguez:Yea Commissioner Lisa Bonich:Yea Page 3 of 3 Subject: Suggested Action: Meeting Date:July 29, 2025 Submitted By:Nkenga Payne Submitted Department:Finance Department Item Type:Resolution Agenda Section:RESOLUTION(S) A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF SOUTH MIAMI, FLORIDA, DECLARING, AS REQUIRED BY SECTION 200.065, FLORIDA STATUTES, THE CITY’S PROPOSED MILLAGE RATE, ROLLED- BACK RATE COMPUTED PURSUANT TO SECTION 200.065(1), FLORIDA STATUTES, AND THE DATE, TIME, AND PLACE AT WHICH THE FIRST AND SECOND PUBLIC BUDGET HEARINGS WILL BE HELD TO CONSIDER THE PROPOSED MILLAGE RATE AND THE TENTATIVE BUDGET FOR FISCAL YEAR 2025-2026; DIRECTING THE CITY MANAGER AND CITY CLERK TO TRANSMIT AND FILE THIS RESOLUTION WITH THE MIAMI-DADE COUNTY PROPERTY APPRAISER; AUTHORIZING THE CITY MANAGER TO CHANGE BUDGET HEARING DATES, IF NEEDED; AND PROVIDING FOR CORRECTIONS AND AN EFFECTIVE DATE. 3/5 (CITY MANAGER-FINANCE DEPT.) Agenda Item No. 11. CITY COMMISSION Agenda Item Report Attachments: TRIM_Memo_FY_26.docx Resolution Declaring Proposed Millage for Fiscal Year 25-26.DOCX DR420_2025_227.pdf DR420MMP_2025_227.pdf 2025-average-and-median-residential-values.pdf 2025-preliminary-senior-exemptions.pdf 2025-taxing-authority-reports.pdf 2024-25-year-to-year-comparison.pdf 2025-07-01-premliminary-values.pdf 2025-average-and-median-homestead-residential-values.pdf 1 CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER-OFFICE MEMORANDUM TO: The Honorable Mayor, Vice Mayor, and Members of the City Commission FROM: Genaro “Chip” Iglesias, City Manager DATE: July 29, 2025 SUBJECT: Advising the Miami-Dade County Property Appraiser of its proposed millage rate of 3.9500 mills, which would require a two-thirds vote of the City’s governing body, its rolled-back rate of 3.6490 mills, and providing the date, time, and place of public hearing to consider the proposed millage rate and FY 25 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 $3,117,747,224. Please find below the Millage Calculation Comparison from Adopted FY 25 to PROPOSED FY 26 below. MILLAGE CALCULATION PRIOR YEAR COMPARISON (PROPOSED) ACCOUNT CLASSIFICATION ADOPTED MILLAGE FY 2025 PROPOSED MILLAGE FY 2026 EST. DIFF MILLAGE RATE 3.9500 3.9500 0.00% REAL PROPERTY TAXABLE VALUE 2,746,530,125 3,010,989,736 9.63% PERSONAL PROPERTY TAXABLE VALUE 93,840,875 106,757,484 13.76% TOTAL TAXABLE VALUE (REAL AND PERSONAL PROPERTY) 2,840,371,000 3,117,747,224 9.77% AD VALOREM REVENUE 11,219,465 12,315,102 1,095,636 95% OF TAXABLE VALUE (TO ALLOW FOR DELETIONS & DELINQUENCIES) 10,658,492 11,699,346 $1,040,854 2 South^'Miami THE CITY OF PLEASANT LIVING CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER-OFFICE MEMORANDUM 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, 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. 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) 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 reported to the Miami-Dade Property Appraiser. The City Commission can decrease the TRIM advertised rate during the September budget hearing s, but it cannot be increased except under extraordinary circumstances. Technically, commissioners can still approve a higher millage rate, however, that would require, per state law, halting the budget - hearing process and sending notices by first-class mail to every property owner within the City with the new, higher, proposed millage rate. At this stage of the budget process, the City is simply setting a maximum millage rate to allow for flexibility and to meet advertising requirements. It's also important to note that the PROPOSED FY 2026 Operating and Capital Budget was prepared using the ad valorem revenue based on maintaining the current millage rate of 3.9500. Financial Outlook – FY 2026 As we look ahead to the FY 2026 budget cycle, the City of South Miami faces several important financial considerations that will shape policy decisions and service levels in the coming year. These include: 1. Reduced Revenue from Amendment 5: Florida voters approved Amendment 5 in November 2024, introducing an annual inflation adjustment to the homestead exemption for assessed property values between $50,000 and $75,000. This adjustment, based on the Consumer Price Index, takes effect on Janua ry 1, 2025, and applies to all tax levies 3 South^'Miami THE CITY OF PLEASANT LIVING CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER-OFFICE MEMORANDUM except school district taxes. While this change offers modest relief for homeowners, it will reduce the City’s ad valorem revenue starting in FY 2026. The long-term impact may limit the City's ability to maintain or expand services, particularly in areas such as emergency response, parks, and library operations. 2. Balancing Budget Priorities: The City continues to face pressure in balancing investments across core service areas—including public safety, infrastructure, community development, and personnel—while navigating rising costs and inflation. As demands on City services grow, prioritizing spending without compromising fiscal discipline will be a key consideration for FY 2026. 3. Maintaining Long-Term Fiscal Health: Long-term financial sustainability remains a central focus. This includes maintaining healthy reserves, managing pension and healthcare obligations, and planning for capital investments. Exploring new or diversified revenue sources, pursuing grant opportunities, and strengthening intergovernmental partnerships will be essential to support continued growth and fiscal stability. 4. Strengthening Economic Development: Investing in the local economy is critical for expanding the City’s tax base and creating long-term value for residents. Efforts such as placemaking initiatives, targeted infrastructure improvements, and collaboration with private-sector partners will help attract investment, support local businesses, and create a more vibrant community. Navigating these challenges will require thoughtful planning, transparency, and community input. FY 2026 presents an opportunity to take a balanced and proactive approach , protecting essential services while positioning the City for sustainable growth in the years ahe ad. 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 3.6490. The City’s current millage rate and being presented of 3.9500 represents an 8.25% increase over the rolled-back rate. 4 South^'Miami THE CITY OF PLEASANT LIVING CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER-OFFICE MEMORANDUM Below please find the Rolled-Back Rate Comparison. MILLAGE CALCULATION ROLLED-BACK RATE COMPARISON (PROPOSED) ACCOUNT CLASSIFICATION PROPOSED MILLAGE FY 2026 ROLLED BACK MILLAGE FY 2026 EST. DIFF MILLAGE RATE 3.9500 3.6490 8.25% REAL PROPERTY TAXABLE VALUE $3,010,989,736 $3,010,989,736 0.00% PERSONAL PROPERTY TAXABLE VALUE $106,757,484 $106,757,484 0.00% TOTAL TAXABLE VALUE (REAL AND PERSONAL PROPERTY) $3,117,747,220 $3,117,747,220 0.00 AD VALOREM REVENUE $12,315,102 $11,376,660 -938,442 95% OF TAXABLE VALUE (TO ALLOW FOR DELETIONS & DELINQUENCIES) $11,699,346 $10,807,827 -$891,520 In addition to the TRIM requirements, local governments must also conform to the maximum millage limitation requirements the Legislature first imposed in 2007 (chapter 2007-321, Laws of Florida). The requirements for 2009 and thereafter are in section 200.065(5), Florida Statutes. The maximum tax levy allowed by a majority vote of the governing body is based on a percentage applied to the rolled-back rate under s. 200.065, F.S. For counties and municipalities and their related dependent special districts and municipal service taxing units (MSTUs), and for independent special districts, this percentage is based on the change in the per capita Flori da personal income (s. 200.001(8)(i), F.S.), which Florida law requires the Office of Economic and Demographic Research (EDR) to report each year. Based on the above requirement, the maximum millage the City’s Mayor and Commission may adopt by majority vote is 3.8136. 5 South^'Miami THE CITY OF PLEASANT LIVING CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER-OFFICE MEMORANDUM Below please find the Maximum Majority Vote Millage Requirement Comparison. MAJORITY VOTE ONLY MILLAGE RATE COMPARISON (PROPOSED) ACCOUNT CLASSIFICATION PROPOSED MILLAGE FY 2026 MAJORITY VOTE ONLY MILLAGE FY 2026 EST. DIFF MILLAGE RATE 3.9500 3.8136 3.58% REAL PROPERTY TAXABLE VALUE $3,010,989,736 $3,010,989,736 0.00% PERSONAL PROPERTY TAXABLE VALUE $106,757,484 $106,757,484 0.00% TOTAL TAXABLE VALUE (REAL AND PERSONAL PROPERTY) $3,117,747,220 $3,117,747,220 0.00 AD VALOREM REVENUE $12,315,102 $11,889,841 -425,261 95% OF TAXABLE VALUE (TO ALLOW FOR DELETIONS & DELINQUENCIES) $11,699,346 $11,295,349 -$403,998 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, h ouse) are also taxable in this category. This millage rate will enable the City to continue providing essential services, support ongoing operations and projects, and help preserve the City’s long-term financial stability. Whatever rate the Commission sets at this time will be the highest possible rate for this coming fiscal year except under extraordinary circumstances. The Commission will be able to re-consider the rate during the FY 26 budget hearings in September of 2025 only for rates lower than what is set within the proposed Resolution. 6 South^'Miami THE CITY OF PLEASANT LIVING CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER-OFFICE MEMORANDUM 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, July 29, 2025 4 PM City of South Miami City Hall 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 Wednesday, September 3, 2025 5:01 PM City of South Miami City Hall Commission Chambers or Zoom 6130 Sunset Drive South Miami, FL 33143 Second Budget Hearing Tuesday, September 16, 2025 5:01 PM City of South Miami City Hall Commission Chambers or Zoom 6130 Sunset Drive South Miami, FL 33143 7 South^'Miami THE CITY OF PLEASANT LIVING CITY OF SOUTH MIAMI OFFICE OF THE CITY MANAGER INTER-OFFICE MEMORANDUM NOTE: Pertinent meetings scheduled as of this date include: Miami-Dade County Budget Hearings: 9-04-25 and 9-18-25 Miami-Dade County School Board Budget Hearings: 7-30-25 and 9-10-25 Attachments  Proposed Resolution  State of Florida DRAFT Forms (DR-420 & DR-420MM-P)  2025 Miami-Dade County Property Reports 8 South^'Miami THE CITY OF PLEASANT LIVING CERTIFICATION OF TAXABLE VALUE DR-420 R. 5/12 Rule 12D-16.002 Florida Administrative Code Effective 11/12 Year :County : Principal Authority :Taxing Authority : SECTION I : COMPLETED BY PROPERTY APPRAISER 1.Current year taxable value of real property for operating purposes $(1) 2.Current year taxable value of personal property for operating purposes $(2) 3.(3)Current year taxable value of centrally assessed property for operating purposes $ 4.(4)Current year gross taxable value for operating purposes (Line 1 plus Line 2 plus Line 3)$ 5.(5) Current year net new taxable value (Add new construction, additions, rehabilitative 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.(6)Current year adjusted taxable value (Line 4 minus Line 5)$ 7.(7)$Prior year FINAL gross taxable value from prior year applicable Form DR-403 series 8.(8)Does the taxing authority include tax increment financing areas? If yes, enter number of worksheets (DR-420TIF) attached. If none, enter 0 Number 9.(9) NumberDoes the taxing authority levy a voted debt service millage or a millage voted for 2 years or less under s. 9(b), Article VII, State Constitution? If yes, enter the number of DR-420DEBT, Certification of Voted Debt Millage formsattached. If none, enter 0 SIGN HERE Property Appraiser Certification I certify the taxable values above are correct to the best of my knowledge. Date : 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 millage from Form DR-422)(10)per $1,000 11.(11)Prior year ad valorem proceeds (Line 7 multiplied by Line 10, divided by 1,000)$ 12.(12)$Amount, if any, paid or applied in prior year as a consequence of an obligation measured by a dedicated increment value (Sum of either Lines 6c or Line 7a for all DR-420TIF forms) 13. 14. (13) (14) Adjusted prior year ad valorem proceeds (Line 11 minus Line 12)$ $Dedicated increment value, if any (Sum of either Line 6b or Line 7e for all DR-420TIF forms) 15.(15)$Adjusted current year taxable value (Line 6 minus Line 14) 16.Current year rolled-back rate (Line 13 divided by Line 15, multiplied by 1,000) per $1000 (16) 17.(17)per $1000Current year proposed operating millage rate 18.(18) $ Total taxes to be levied at proposed millage rate (Line 17 multiplied by Line 4, divided by 1,000) Continued on page 2 YES NO YES NO Signature of Property Appraiser: 2025 Miami-Dade City of South Miami City of South Miami - Operating 3,010,989,736 106,757,484 0 3,117,747,220 56,337,601 3,061,409,619 2,828,088,959 4 0 4 0 Electronically Certified by Property Appraiser 7/1/2025 3:06:55 PM 3.9500 11,170,951 -0- 11,170,951 -0- 3,061,409,619 3.6490 3.9500 12,315,102 12 DR-420 R. 5/12 Page 2 19.TYPE of principal authority (check one)County Independent Special District (19) Municipality Water Management District (20)20. Applicable taxing authority (check one)Principal Authority Dependent Special District MSTU Water Management District Basin 21.(21)Is millage levied in more than one county? (check one)Yes No DEPENDENT SPECIAL DISTRICTS AND MSTUs STOP HERE - SIGN AND SUBMIT 22. (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)(23)per $1,000 24.(24)$Current year aggregate rolled-back taxes (Line 4 multiplied by Line 23, divided by 1,000) 25.(25)$ Enter total of all operating ad valorem taxes proposed to be levied by the principal 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)per $1,000 (27)Current year proposed rate as a percent change of rolled-back rate (Line 26 divided by Line 23, minus 1, multiplied by 100) % S I 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 of either s. 200.071 or s. 200.081, F.S. Date : Title :Contact Name and Contact Title : Mailing Address :Physical Address : City, State, Zip :Phone Number :Fax Number : Instructions on page 3 First public budget hearing Date :Time :Place : 27. 26. Signature of Chief Administrative Officer : 4 4 4 11,170,951 3.6490 11,376,660 12,315,102 3.9500 8.25 9/3/2025 5:01 PM EST 6130 Sunset Drive South Miami 33143 13 DR-420 R. 5/12 Page 3 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 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: z The membership of its governing body is identical to that of the governing body of a single county or a single municipality. z All members of its governing body are appointed by the governing body of a single county or a single municipality. z 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. z 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://floridarevenue.com/property/Pages/TRIM.aspx 14 MAXIMUM MILLAGE LEVY CALCULATION 35(/,0,1$5<',6&/2685( For municipal governments, counties, and special districts DR-420MM1 R. 5/12 Rule 12D-16.002 Florida Administrative Code Effective 11/12 County :Year : Taxing Authority : 1.(1)Is your taxing authority a municipality or independent special district that has levied ad valorem taxes for less than 5 years?Yes No IF YES, STOP HERE. SIGN AND SUBMIT. You are not subject to a millage limitation. 2.(2)per $1,000Current year rolled-back rate from Current Year Form DR-420, Line 16 3.per $1,000 (3) 4.(4)per $1,000Prior year operating millage rate from Current Year Form DR-420, Line 10 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.(5)Prior year final gross taxable value from Current Year Form DR-420, Line 7 $ 6.(6)$Prior year maximum ad valorem proceeds with majority vote (Line 3 multiplied by Line 5 divided by 1,000) 7.(7)$Amount, if any, paid or applied in prior year as a consequence of an obligation measured by a dedicated increment value from Current Year Form DR-420 Line 12 8.(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 $(9) 10.Adjusted current year rolled-back rate (Line 8 divided by Line 9, multiplied by 1,000)per $1,000 (10) Calculate maximum millage levy 11.(11)Rolled-back rate to be used for maximum millage levy calculation (Enter Line 10 if adjusted or else enter Line 2)per $1,000 12.Adjustment for change in per capita Florida personal income (See Line 12 Instructions)(12) 13.Majority vote maximum millage rate allowed (Line 11 multiplied by Line 12)(13)per $1,000 14.Two-thirds vote maximum millage rate allowed (Multiply Line 13 by 1.10)per $1,000 (14) 15.Current year adopted millage rate per $1,000 (15) 16.(16)Minimum vote required to levy adopted millage: (Check one) 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 adopted 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 adopted rate. Enter Line 15 on Line 17. d. Referendum: The maximum millage rate is equal to the adopted rate. Enter Line 15 on Line 17. 17.The selection on Line 16 allows a maximum millage rate of (Enter rate indicated by choice on Line 16).(17) 18.(18)Current year gross taxable value from Current Year Form DR-420, Line 4 $ Continued on page 2 per $1,000 1SJPSZFBSNBYJNVNNJMMBHFSBUFXJUIBNBKPSJUZWPUFGSPN'PSN%3.. -JOF Principal Authority : 2025 Miami-Dade City of South Miami City of South Miami - Operating 4 3.6490 3.9085 3.9500 3.6490 1.0451 3.8136 4.1950 3.9500 3,117,747,220 15 FLORIDA R. 5/12 Page 2 19.Current year adopted taxes (Line 15 multiplied by Line 18, divided by 1,000).(19)$ 20.(20)Total taxes levied at the maximum millage rate (Line 17 multiplied by Line 18, divided by 1,000).$ DEPENDENT SPECIAL DISTRICTS AND MSTUs STOP HERE. SIGN AND SUBMIT. 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-420MM1)$(21) 22.Total current year adopted taxes (Line 19 plus Line 21).(22)$ Total Maximum Taxes 23.(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-420MM1).$ 24.Total taxes at maximum millage rate (Line 20 plus Line 23).(24)$ Total Maximum Versus Total Taxes Levied 25.Are total current year adopted taxes on Line 22 equal to or less than total taxes at the maximum millage rate on Line 24? (Check one)YES NO (25) S I 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 of either s. 200.071 or s. 200.081, F.S. Signature of Chief Administrative Officer :Date : Title :Contact Name and Contact Title : Mailing Address :Physical Address : City, State, Zip :Phone Number :Fax Number : 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 Taxing Authority :DR-420..1 City of South Miami - Operating 12,315,102 0 12,315,102 0 0 4 16 E3 MAXIMUM MILLAGE LEVY CALCULATION PRELIMINARY DISCLOSURE INSTRUCTIONS DR-420MM-P R. 5/12 Page 3 General Instructions Each of the following taxing authorities must complete a DR-420MM-P. ͻ County ͻ Municipality ͻ Special district dependent to a county or municipality ͻ County MSTU ͻ Independent special district, including water management districts ͻ 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 202ϰ 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 Only taxing authorities that levied a 202ϯ 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 2022 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. All TRIM forms for taxing authorities are available on our website at http://floridarevenue.com/property/Pages/Forms.aspx 17 Count Just Assessed Taxable Just Assessed Taxable 01 CITY OF MIAMI 103,025 668,323 494,174 470,874 461,200 340,362 325,519 02 CITY OF MIAMI BEACH 49,303 1,196,275 900,438 883,927 405,968 355,048 341,775 03 CITY OF CORAL GABLES 16,468 1,811,558 1,101,746 1,063,286 1,167,537 613,700 574,920 04 CITY OF HIALEAH 51,611 362,768 223,519 187,351 363,682 184,820 160,416 05 CITY OF MIAMI SPRINGS 3,796 595,535 347,360 302,995 590,311 302,260 249,380 06 CITY OF NORTH MIAMI 14,160 477,436 270,476 240,001 343,547 152,469 137,648 07 CITY OF NORTH MIAMI BEACH 12,852 441,941 290,282 262,845 355,885 174,227 158,371 08 CITY OF OPA-LOCKA 2,701 306,331 172,418 143,369 306,177 155,559 135,412 09 CITY OF SOUTH MIAMI 3,604 915,273 529,452 493,482 818,024 396,204 353,871 10 CITY OF HOMESTEAD 20,560 327,069 235,321 203,571 314,000 217,192 186,814 11 MIAMI SHORES VILLAGE 3,672 1,033,162 561,655 517,860 904,265 411,524 360,817 12 BAL HARBOUR VILLAGE 3,374 2,311,533 1,816,006 1,805,185 1,151,473 931,108 925,090 13 TOWN OF BAY HARBOR ISLANDS 2,678 1,005,733 661,158 639,521 457,908 348,059 330,096 14 TOWN OF SURFSIDE 3,176 1,982,602 1,485,787 1,464,750 1,081,138 594,417 564,082 15 CITY OF WEST MIAMI 1,507 541,189 317,271 271,089 530,396 291,732 239,019 16 CITY OF FLORIDA CITY 3,439 319,328 242,311 215,282 302,792 253,821 227,280 17 VILLAGE OF BISCAYNE PARK 857 857,685 462,498 418,813 776,572 366,884 319,732 18 VILLAGE OF EL PORTAL 703 751,585 410,571 367,493 700,515 353,242 302,986 19 TOWN OF GOLDEN BEACH 343 8,835,129 5,017,674 4,976,839 6,568,610 3,419,004 3,368,282 20 VILLAGE OF PINECREST 5,972 2,051,178 1,227,904 1,184,077 1,652,613 808,203 757,640 21 VILLAGE OF INDIAN CREEK 29 59,890,991 31,646,627 31,614,477 57,884,986 27,163,451 27,112,729 22 TOWN OF MEDLEY 81 216,369 142,258 107,707 203,792 123,630 101,532 23 CITY OF NORTH BAY VILLAGE 3,439 498,916 368,631 348,866 335,309 272,615 249,189 24 VILLAGE OF KEY BISCAYNE 7,052 1,989,807 1,553,321 1,530,742 1,190,595 955,451 937,428 25 CITY OF SWEETWATER 2,746 349,160 206,647 170,417 305,000 179,472 160,900 26 VILLAGE OF VIRGINIA GARDENS 566 453,707 256,793 214,653 463,688 203,900 166,149 27 CITY OF HIALEAH GARDENS 5,669 367,830 216,681 180,029 351,690 175,667 136,874 28 CITY OF AVENTURA 24,389 544,440 452,119 431,702 371,916 321,090 306,582 30 MUNICIPAL SERVICE AREA 329,087 478,181 293,875 255,582 415,000 237,395 203,727 31 CITY OF SUNNY ISLES BEACH 19,126 1,064,256 930,950 918,376 487,708 415,802 407,019 32 TOWN OF MIAMI LAKES 9,331 553,545 363,407 321,716 527,201 314,826 269,024 33 VILLAGE OF PALMETTO BAY 8,027 864,892 513,708 467,351 859,015 443,963 394,284 34 CITY OF MIAMI GARDENS 29,158 345,012 199,096 159,881 344,995 167,812 125,077 35 CITY OF DORAL 23,630 501,293 406,880 382,906 448,973 354,442 332,350 36 TOWN OF CUTLER BAY 14,405 450,594 283,345 242,229 438,021 251,543 210,774 99 MIAMI-DADE COUNTYWIDE 780,546 632,000 428,518 396,040 417,000 267,937 238,292 111 BOARD OF PUBLIC INSTRUCTION 780,546 632,000 455,857 439,331 417,000 283,978 268,103 140 SO FLORIDA WATER MANAGEMENT DIST 780,546 632,000 428,518 398,320 417,000 267,937 238,867 130 FLORIDA INLAND NAVIGATION DISTRICT 780,546 632,000 428,518 398,320 417,000 267,937 238,867 160 THE CHILDRENS' TRUST 780,546 632,000 428,518 398,320 417,000 267,937 238,867 260 MIAMI-DADE FIRE & RESCUE DISTRICT 553,087 547,624 358,963 323,749 408,258 252,110 219,615 240 MIAMI-DADE LIBRARY DISTRICT 671,131 651,896 443,452 411,013 428,067 279,643 250,525 Average Values Median Values Other Taxing Authorities Municipality PROPERTY APPRAISER OF MIAMI-DADE COUNTY 2025 PRELIMINARY AVERAGE AND MEDIAN RESIDENTIAL VALUES JULY 1 2025 18 Count Exemption Value Count Exemption Value 01 Miami 4,537 188,249,486 1,674 57,599,482 02 Miami Beach 739 32,954,093 91 1,690,927 03 Coral Gables 226 11,087,714 19 863,774 04 Hialeah 5,032 218,234,718 1,970 78,482,174 05 Miami Springs 161 7,762,335 0 0 06 North Miami 562 22,895,059 122 2,592,149 07 North Miami Beach 541 22,064,116 0 0 08 Opa-locka 131 4,281,298 43 238,754 09 South Miami 73 3,345,286 0 0 10 Homestead 386 15,073,910 22 349,734 11 Miami Shores 0 0 0 0 12 Bal Harbour 9 375,000 0 0 13 Bay Harbor Islands 41 1,762,341 1 0 14 Surfside 57 2,771,974 0 0 15 West Miami 162 8,029,771 0 0 16 Florida City 0 0 0 0 17 Biscayne Park 27 1,270,549 0 0 18 El Portal 32 1,567,798 0 0 19 Golden Beach 0 0 0 0 20 Pinecrest 43 1,907,316 1 0 21 Indian Creek 0 0 0 0 22 Medley 10 358,479 3 20,812 23 North Bay Villae 53 2,331,143 11 320,416 24 Key Biscayne 37 1,800,000 0 0 25 Sweetwater 286 12,660,525 0 0 26 Virginia Gardens 43 1,991,766 19 905,330 27 Hialeah Gardens 457 19,906,185 81 1,705,908 28 Aventura 604 14,808,152 0 0 30 Unincorporated 17,111 752,748,519 4,233 167,845,240 31 Sunny Isles Beach 390 18,510,848 14 332,172 32 Miami Lakes 331 16,069,873 26 1,591,279 33 Palmetto Bay 128 6,266,464 12 516,047 34 Miami Gardens 1,623 63,906,079 638 10,391,881 35 Doral 254 12,329,043 16 875,779 36 Cutler Bay 386 17,976,811 73 2,675,485 Municipality SENIOR EXEMPTIONS LONG-TERM RESIDENT 2025 Senior and Long-Term Resident Senior Exemptions SENIOR EXEMPTIONS PROPERTY APPRAISER OF MIAMI-DADE COUNTY July 1, 2025 19 PROPERTY APPRAISER 2025 ASSESSMENT ROLL CHANGE BY PROPERTY TYPE July 1 2025 OF MIAMI-DADE COUNTY 2025 TAXABLE PROPERTY TYPE COUNT JUST VALUE TAXABLE VALUE JUST VALUE TAXABLE VALUE VALUE DIFF PCT NEW CONS SINGLE FAMILY 2,863 2,641,260,068 1,437,767,105 3,062,257,705 1,593,899,628 156,132,523 10.9%19,154,509 CONDOMINIUM 741 240,855,103 171,484,728 236,384,842 184,607,953 13,123,225 7.7%0 MULTI FAMILY 93 341,259,344 276,519,947 318,224,370 274,973,432 -1,546,515 -0.6%721,442 COMMERCIAL 645 914,300,902 732,156,649 918,213,632 774,742,193 42,585,544 5.8%2,699,386 INDUSTRIAL 38 29,186,019 26,340,542 30,338,150 27,514,072 1,173,530 4.5%0 AGRICULTURE 3 7,035,787 2,039,345 10,851,376 3,005,484 966,139 47.4%3,929 VACANT LAND 216 119,741,813 89,616,349 134,143,795 102,265,739 12,649,390 14.1%-2,507,306 INSTITUTIONAL 32 133,665,954 9,715,098 134,378,187 10,638,704 923,606 9.5%0 GOVERNMENTAL 42 120,191,412 0 132,477,303 0 0 0 OTHER PROPERTIES 20 7,301,009 890,362 52,964,451 39,342,531 38,452,169 4318.7%36,265,641 REAL ESTATE PARCELS 4,693 4,554,797,411 2,746,530,125 5,030,233,811 3,010,989,736 264,459,611 9.6%56,337,601 PERS PROP & CENT ASSD 216,521,489 93,840,875 239,565,896 106,757,484 12,916,609 13.8%0 ALL ASSESSED PROPERTY 4,771,318,900 2,840,371,000 5,269,799,707 3,117,747,220 277,376,220 9.8%56,337,601 2025 City of South Miami Preliminary Assessment Roll Values and Comparison 2024 PRELIMINARY VALUES 2025 PRELIMINARY VALUES 20 PERS PROP GROSS PERS PROP GROSS CHANGE IN TAXING AUTHORITY REAL PROPERTY & CENT ASSD TAXABLE REAL PROPERTY & CENT ASSD TAXABLE GROSS TAXABLE PCT CITY OF MIAMI 100,194,404,940 3,511,543,007 103,705,947,947 90,825,918,491 3,309,391,625 94,135,310,116 9,570,637,831 10.17% DOWNTOWN DEV AUTHORITY 31,476,638,090 1,374,289,284 32,850,927,374 28,661,633,269 1,405,891,695 30,067,524,964 2,783,402,410 9.26% CITY OF MIAMI BEACH 59,426,522,765 873,057,799 60,299,580,564 55,552,251,088 844,696,011 56,396,947,099 3,902,633,465 6.92% NORMANDY SHORES 491,163,408 158,354 491,321,762 448,487,500 175,662 448,663,162 42,658,600 9.51% CITY OF CORAL GABLES 25,557,266,841 452,310,889 26,009,577,730 24,121,017,599 451,642,360 24,572,659,959 1,436,917,771 5.85% CITY OF HIALEAH 21,057,352,513 1,119,000,697 22,176,353,210 18,924,877,415 1,047,720,373 19,972,597,788 2,203,755,422 11.03% CITY OF MIAMI SPRINGS 1,786,457,856 100,790,460 1,887,248,316 1,647,878,328 98,280,403 1,746,158,731 141,089,585 8.08% CITY OF NORTH MIAMI 6,176,445,397 231,276,489 6,407,721,886 5,639,248,714 199,731,231 5,838,979,945 568,741,941 9.74% CITY OF NORTH MIAMI BEACH 5,500,486,356 202,755,509 5,703,241,865 5,136,033,384 201,356,673 5,337,390,057 365,851,808 6.85% CITY OF OPA-LOCKA 1,858,388,969 270,476,225 2,128,865,194 1,619,048,394 262,222,216 1,881,270,610 247,594,584 13.16% CITY OF SOUTH MIAMI 3,010,989,736 106,757,484 3,117,747,220 2,746,530,125 93,840,875 2,840,371,000 277,376,220 9.77% CITY OF HOMESTEAD 6,152,624,792 236,575,318 6,389,200,110 5,837,420,461 224,029,860 6,061,450,321 327,749,789 5.41% MIAMI SHORES VILLAGE 2,118,572,148 33,754,152 2,152,326,300 1,949,149,890 29,832,003 1,978,981,893 173,344,407 8.76% BAL HARBOUR VILLAGE 7,255,075,948 92,986,250 7,348,062,198 6,804,805,475 91,634,373 6,896,439,848 451,622,350 6.55% TOWN OF BAY HARBOR ISLANDS 2,319,337,541 27,131,672 2,346,469,213 2,070,689,683 25,981,495 2,096,671,178 249,798,035 11.91% TOWN OF SURFSIDE 5,362,927,907 38,216,958 5,401,144,865 4,712,410,422 39,168,695 4,751,579,117 649,565,748 13.67% CITY OF WEST MIAMI 1,003,028,988 31,579,401 1,034,608,389 940,132,732 28,707,237 968,839,969 65,768,420 6.79% CITY OF FLORIDA CITY 1,441,468,557 99,052,669 1,540,521,226 1,220,494,629 93,450,343 1,313,944,972 226,576,254 17.24% VILLAGE OF BISCAYNE PARK 461,582,196 6,658,433 468,240,629 407,685,603 5,754,687 413,440,290 54,800,339 13.25% VILLAGE OF EL PORTAL 404,407,138 7,588,637 411,995,775 303,836,919 4,900,758 308,737,677 103,258,098 33.45% TOWN OF GOLDEN BEACH 2,082,643,713 4,149,396 2,086,793,109 1,853,471,330 3,919,494 1,857,390,824 229,402,285 12.35% VILLAGE OF PINECREST 8,254,784,581 66,076,497 8,320,861,078 7,542,895,262 62,827,997 7,605,723,259 715,137,819 9.40% VILLAGE OF INDIAN CREEK 1,279,101,921 6,909,266 1,286,011,187 999,011,941 5,387,286 1,004,399,227 281,611,960 28.04% TOWN OF MEDLEY 5,677,310,270 824,718,686 6,502,028,956 5,026,736,873 768,620,640 5,795,357,513 706,671,443 12.19% NORTH BAY VILLAGE 1,792,912,705 31,346,018 1,824,258,723 1,586,137,951 35,678,943 1,621,816,894 202,441,829 12.48% VILLAGE OF KEY BISCAYNE 11,653,179,868 55,506,131 11,708,685,999 10,935,678,100 54,205,072 10,989,883,172 718,802,827 6.54% CITY OF SWEETWATER 4,133,433,501 347,096,839 4,480,530,340 3,753,333,000 394,139,010 4,147,472,010 333,058,330 8.03% VILLAGE OF VIRGINIA GARDENS 291,612,915 122,004,601 413,617,516 268,543,152 138,593,419 407,136,571 6,480,945 1.59% CITY OF HIALEAH GARDENS 2,421,918,634 146,189,261 2,568,107,895 2,164,235,590 142,741,668 2,306,977,258 261,130,637 11.32% CITY OF AVENTURA 13,814,656,260 374,120,136 14,188,776,396 13,188,003,625 361,221,089 13,549,224,714 639,551,682 4.72% CITY OF SUNNY ISLES BEACH 18,990,983,107 123,442,261 19,114,425,368 17,718,453,232 113,563,969 17,832,017,201 1,282,408,167 7.19% TOWN OF MIAMI LAKES 4,984,555,468 257,507,431 5,242,062,899 4,638,814,236 253,116,870 4,891,931,106 350,131,793 7.16% VILLAGE OF PALMETTO BAY 4,777,826,141 97,816,549 4,875,642,690 4,480,002,458 88,867,324 4,568,869,782 306,772,908 6.71% CITY OF MIAMI GARDENS 8,943,398,788 674,414,250 9,617,813,038 8,111,097,398 642,016,975 8,753,114,373 864,698,665 9.88% CITY OF DORAL 21,008,904,522 875,389,019 21,884,293,541 19,357,352,116 843,445,255 20,200,797,371 1,683,496,170 8.33% TOWN OF CUTLER BAY 4,188,559,932 125,895,246 4,314,455,178 3,917,127,900 113,257,953 4,030,385,853 284,069,325 7.05% COUNTY OPERATING 490,907,546,646 21,444,009,469 512,351,556,115 451,286,407,474 20,239,329,047 471,525,736,521 40,825,819,594 8.66% MUNICIPAL SERVICE AREA 125,573,329,599 9,869,915,833 135,443,245,432 115,427,784,904 9,165,384,865 124,593,169,769 10,850,075,663 8.71% FIRE & RESCUE 273,062,949,873 15,432,590,946 288,495,540,819 251,045,848,385 14,531,673,606 265,577,521,991 22,918,018,828 8.63% LIBRARY 437,320,790,570 19,489,444,096 456,810,234,666 402,414,160,836 18,405,855,839 420,820,016,675 35,990,217,991 8.55% SO FL WATER MGMT DIST 492,800,827,059 21,444,009,469 514,244,836,528 453,271,950,500 20,239,329,047 473,511,279,547 40,733,556,981 8.60% EVERGLADES CONSTR PROJECT 492,800,827,059 21,444,009,469 514,244,836,528 453,271,950,500 20,239,329,047 473,511,279,547 40,733,556,981 8.60% OKEECHOBEE BASIN 492,800,827,059 21,444,009,469 514,244,836,528 453,271,950,500 20,239,329,047 473,511,279,547 40,733,556,981 8.60% FL INLAND NAVIGATION DIST 492,800,827,059 21,444,009,469 514,244,836,528 453,271,950,500 20,239,329,047 473,511,279,547 40,733,556,981 8.60% CHILDREN'S TRUST 492,800,827,059 21,444,009,469 514,244,836,528 453,271,950,500 20,239,329,047 473,511,279,547 40,733,556,981 8.60% BOARD OF PUBLIC INSTRUCTION 562,154,485,771 21,444,009,469 583,598,495,240 542,351,790,987 20,250,490,174 562,602,281,161 20,996,214,079 3.73% 2025 PRELIMINARY ASSESSMENT ROLL VALUES 2024 PRELIMINARY ASSESSMENT ROLL VALUES PROPERTY APPRAISER OF MIAMI-DADE COUNTY 2025 AND 2024 PRELIMINARY ROLL COMPARISION July 1, 2025 21 2024 2025 2025 PRELIMINARY TAXABLE VALUE PRELIMINARY PERCENT TAXABLE BEFORE NEW PERCENT NEW TAXABLE CHANGE NET VALUE TAXING AUTHORITY VALUE CONSTRUCTION CHANGE CONSTRUCTION VALUE FROM 2024 CHANGE 01 MIAMI 94,135,310,116 100,580,592,777 6.8%3,125,355,170 103,705,947,947 10.2%9,570,637,831 0101 MIAMI ( DDA )30,067,524,964 31,210,873,103 3.8%1,640,054,271 32,850,927,374 9.3%2,783,402,410 02 MIAMI BEACH 56,396,947,099 59,251,456,909 5.1%1,048,123,655 60,299,580,564 6.9%3,902,633,465 0201 MB NORMANDY SHORES 448,663,162 485,635,244 8.2%5,686,518 491,321,762 9.5%42,658,600 03 CORAL GABLES 24,572,659,959 25,895,446,975 5.4%114,130,755 26,009,577,730 5.8%1,436,917,771 04 HIALEAH 19,972,597,788 21,881,086,044 9.6%295,267,166 22,176,353,210 11.0%2,203,755,422 05 MIAMI SPRINGS 1,746,158,731 1,873,174,882 7.3%14,073,434 1,887,248,316 8.1%141,089,585 06 NORTH MIAMI 5,838,979,945 6,301,856,414 7.9%105,865,472 6,407,721,886 9.7%568,741,941 07 NORTH MIAMI BEACH 5,337,390,057 5,670,174,280 6.2%33,067,585 5,703,241,865 6.9%365,851,808 08 OPA-LOCKA 1,881,270,610 2,114,205,185 12.4%14,660,009 2,128,865,194 13.2%247,594,584 09 SOUTH MIAMI 2,840,371,000 3,061,409,619 7.8%56,337,601 3,117,747,220 9.8%277,376,220 10 HOMESTEAD 6,061,450,321 6,171,546,252 1.8%217,653,858 6,389,200,110 5.4%327,749,789 11 MIAMI SHORES 1,978,981,893 2,145,461,940 8.4%6,864,360 2,152,326,300 8.8%173,344,407 12 BAL HARBOUR 6,896,439,848 7,340,500,307 6.4%7,561,891 7,348,062,198 6.5%451,622,350 13 BAY HARBOR ISLANDS 2,096,671,178 2,212,215,484 5.5%134,253,729 2,346,469,213 11.9%249,798,035 14 SURFSIDE 4,751,579,117 5,017,845,829 5.6%383,299,036 5,401,144,865 13.7%649,565,748 15 WEST MIAMI 968,839,969 1,031,222,247 6.4%3,386,142 1,034,608,389 6.8%65,768,420 16 FLORIDA CITY 1,313,944,972 1,391,983,160 5.9%148,538,066 1,540,521,226 17.2%226,576,254 17 BISCAYNE PARK 413,440,290 463,280,267 12.1%4,960,362 468,240,629 13.3%54,800,339 18 EL PORTAL 308,737,677 330,601,958 7.1%81,393,817 411,995,775 33.4%103,258,098 19 GOLDEN BEACH 1,857,390,824 2,063,844,968 11.1%22,948,141 2,086,793,109 12.4%229,402,285 20 PINECREST 7,605,723,259 8,168,131,221 7.4%152,729,857 8,320,861,078 9.4%715,137,819 21 INDIAN CREEK 1,004,399,227 1,241,295,241 23.6%44,715,946 1,286,011,187 28.0%281,611,960 22 MEDLEY 5,795,357,513 6,423,880,724 10.8%78,148,232 6,502,028,956 12.2%706,671,443 23 N. BAY VILLAGE 1,621,816,894 1,819,688,944 12.2%4,569,779 1,824,258,723 12.5%202,441,829 24 KEY BISCAYNE 10,989,883,172 11,663,453,478 6.1%45,232,521 11,708,685,999 6.5%718,802,827 25 SWEETWATER 4,147,472,010 4,356,350,414 5.0%124,179,926 4,480,530,340 8.0%333,058,330 26 VIRGINIA GARDENS 407,136,571 413,508,591 1.6%108,925 413,617,516 1.6%6,480,945 27 HIALEAH GARDENS 2,306,977,258 2,539,743,449 10.1%28,364,446 2,568,107,895 11.3%261,130,637 28 AVENTURA 13,549,224,714 14,171,434,627 4.6%17,341,769 14,188,776,396 4.7%639,551,682 30 UNINCORPORATED 124,593,169,769 133,734,649,116 7.3%1,708,596,316 135,443,245,432 8.7%10,850,075,663 31 SUNNY ISLES BEACH 17,832,017,201 18,972,386,195 6.4%142,039,173 19,114,425,368 7.2%1,282,408,167 32 MIAMI LAKES 4,891,931,106 5,215,104,095 6.6%26,958,804 5,242,062,899 7.2%350,131,793 33 PALMETTO BAY 4,568,869,782 4,855,890,105 6.3%19,752,585 4,875,642,690 6.7%306,772,908 34 MIAMI GARDENS 8,753,114,373 9,480,009,860 8.3%137,803,178 9,617,813,038 9.9%864,698,665 35 DORAL 20,200,797,371 21,579,050,224 6.8%305,243,317 21,884,293,541 8.3%1,683,496,170 36 CUTLER BAY 4,030,385,853 4,307,135,719 6.9%7,319,459 4,314,455,178 7.0%284,069,325 COUNTY-WIDE 471,525,736,521 503,672,508,610 6.8%8,679,047,505 512,351,556,115 8.7%40,825,819,594 FIRE AND RESCUE 265,577,521,991 284,444,602,581 7.1%4,050,938,238 288,495,540,819 8.6%22,918,018,828 LIBRARY 420,820,016,675 449,201,326,983 6.7%7,608,907,683 456,810,234,666 8.6%35,990,217,991 SCHOOL BOARD 562,602,281,161 574,917,485,827 2.2%8,681,009,413 583,598,495,240 3.7%20,996,214,079 S FL WATER MNGT DIST 473,511,279,547 505,563,784,194 6.8%8,681,052,334 514,244,836,528 8.6%40,733,556,981 FL INLAND NAV DIST 473,511,279,547 505,563,784,194 6.8%8,681,052,334 514,244,836,528 8.6%40,733,556,981 THE CHILDREN'S TRUST 473,511,279,547 505,563,784,194 6.8%8,681,052,334 514,244,836,528 8.6%40,733,556,981 2025 Taxable Values by Taxing Authority PROPERTY APPRAISER OF MIAMI-DADE COUNTY JULY 1, 2025 22 Count Just Assessed Taxable Just Assessed Taxable 01 CITY OF MIAMI 41,178 769,061 423,020 367,133 514,020 259,330 204,935 02 CITY OF MIAMI BEACH 13,888 1,776,252 959,754 904,470 605,572 361,131 306,842 03 CITY OF CORAL GABLES 10,862 2,048,095 1,068,164 1,012,564 1,462,187 638,156 585,568 04 CITY OF HIALEAH 31,572 400,683 195,169 136,276 412,151 167,588 108,578 05 CITY OF MIAMI SPRINGS 2,993 625,430 322,506 266,420 603,511 283,132 229,621 06 CITY OF NORTH MIAMI 7,965 584,949 256,513 203,246 390,793 135,015 80,688 07 CITY OF NORTH MIAMI BEACH 6,439 502,551 242,422 188,703 384,275 139,286 84,993 08 CITY OF OPA-LOCKA 1,534 328,435 145,087 94,712 328,602 105,823 49,774 09 CITY OF SOUTH MIAMI 2,407 1,046,207 511,933 458,201 888,094 379,676 326,275 10 CITY OF HOMESTEAD 11,308 362,361 228,854 171,317 350,299 215,525 156,732 11 MIAMI SHORES VILLAGE 2,863 1,076,404 500,168 447,801 937,202 381,172 327,983 12 BAL HARBOUR VILLAGE 681 3,287,139 1,823,692 1,770,084 2,137,818 1,039,779 983,485 13 TOWN OF BAY HARBOR ISLANDS 1,098 1,352,787 626,140 573,372 491,892 304,789 251,842 14 TOWN OF SURFSIDE 1,186 1,854,762 1,021,990 967,136 1,106,648 452,033 397,996 15 CITY OF WEST MIAMI 1,159 548,076 270,237 210,188 534,442 223,970 169,617 16 CITY OF FLORIDA CITY 1,785 328,713 223,270 173,048 310,889 246,890 192,413 17 VILLAGE OF BISCAYNE PARK 670 858,765 379,548 325,295 778,160 294,292 240,441 18 VILLAGE OF EL PORTAL 548 742,641 331,094 275,831 696,809 235,144 182,854 19 TOWN OF GOLDEN BEACH 240 8,034,031 3,583,646 3,532,778 6,162,648 2,251,043 2,200,321 20 VILLAGE OF PINECREST 4,513 2,150,521 1,130,315 1,075,465 1,782,380 759,796 706,292 21 VILLAGE OF INDIAN CREEK 14 60,732,353 19,708,380 19,641,784 60,756,242 18,314,639 18,263,917 22 TOWN OF MEDLEY 52 229,494 124,888 71,068 216,707 109,529 55,322 23 CITY OF NORTH BAY VILLAGE 1,257 617,605 334,323 280,252 394,319 250,963 197,435 24 VILLAGE OF KEY BISCAYNE 2,777 2,279,384 1,415,434 1,361,048 1,527,390 884,847 832,149 25 CITY OF SWEETWATER 1,691 381,484 171,711 113,841 330,748 138,514 77,687 26 VILLAGE OF VIRGINIA GARDENS 413 488,928 234,323 176,595 474,687 192,132 137,891 27 CITY OF HIALEAH GARDENS 3,753 399,323 186,912 131,550 370,412 152,739 93,579 28 CITY OF AVENTURA 9,321 591,244 412,365 359,339 403,474 288,523 236,002 30 MUNICIPAL SERVICE AREA 220,818 521,253 270,068 213,672 459,396 221,591 166,540 31 CITY OF SUNNY ISLES BEACH 4,206 1,084,125 771,603 715,042 452,469 334,215 279,299 32 TOWN OF MIAMI LAKES 6,872 601,253 349,908 293,906 569,468 305,861 251,742 33 VILLAGE OF PALMETTO BAY 6,396 910,498 489,120 433,026 878,889 434,076 380,931 34 CITY OF MIAMI GARDENS 20,790 359,905 175,567 121,273 354,040 140,161 85,320 35 CITY OF DORAL 10,162 573,607 396,091 340,603 519,792 343,469 289,068 36 TOWN OF CUTLER BAY 10,459 475,724 261,304 205,013 457,550 228,047 172,978 99 MIAMI-DADE COUNTYWIDE 443,870 663,917 354,146 298,014 459,631 232,099 177,141 111 BOARD OF PUBLIC INSTRUCTION 443,870 663,917 354,236 326,579 459,631 232,150 204,800 140 SO FLORIDA WATER MANAGEMENT DIST 443,870 663,917 354,146 302,022 459,631 232,099 179,052 130 FLORIDA INLAND NAVIGATION DISTRICT 443,870 663,917 354,146 302,022 459,631 232,099 179,052 160 THE CHILDRENS' TRUST 443,870 663,917 354,146 302,022 459,631 232,099 179,052 260 MIAMI-DADE FIRE & RESCUE DISTRICT 343,593 573,729 304,871 248,900 450,540 227,778 172,614 240 MIAMI-DADE LIBRARY DISTRICT 381,856 687,510 369,131 313,163 473,404 241,748 187,027 Average Values Median Values Other Taxing Authorities Municipality PROPERTY APPRAISER OF MIAMI-DADE COUNTY 2025 PRELIMINARY AVERAGE AND MEDIAN HOMESTEAD RESIDENTIAL VALUES JULY 1 2025 23