06-01-04 Item 2bTO:
FROM:
SUBJECT:
CITY OF SOUTH MIAMI
OFFICE OF THE CITY MANAGER
INTER - OFFICE MEMORANDUM
Mayor, Vice Mayor and Commission.
Maria V. Davis, City Manager
Tax Status of Valencia and Shops at Sunset
DATE: May 27, 2004
In his response to our queries concerning taxation and advance value agreements with
the Shops at Sunset, Frank Jacobs from the Miami -Dade Property Appraiser's Office
wrote:
"The Commission is absolutely correct in their opinion regarding value agreements
made two years in advance ... I have been in discussions with the Simon people about
the appeal of the 2003 assessment of Shops of Sunset that they have filed with the
Valuation Adjustment Board. During the course of those discussions, they have
provided this department with a comprehensive package of information regarding the
performance of the Shops of Sunset over the past number of years. In addition, they
have provided us with information regarding new tenants that are expected to occupy
portions of the center in the near future. With that information we are attempting to
resolve the 2003 appeal and establish an appropriate preliminary value for the 2004 tax
roll."
Concerning. the Valencia project, Hakeem Oshikoya has faxed copies of Temporary
Certificates of Occupancy issued by the City to Valencia Apartments to Mr. Jacob's
office along with a note that the building was "substantially completed before the
beginning of the year," along with information that the lease office was open prior to the
beginning of the year to start taking applications for tenants. We are awaiting word
from the Property Appraiser's Office on whether or not Valencia will be added to this
year's tax rolls. We will keep you informed of the responses and our continued efforts
to have these properties appropriately valued for our current year's ad valorem rolls.