HomeMy WebLinkAboutR-87-0623r J-87-677
7/9187
RESOLUTION NO.
A RESOLUTION AUTHORIZING THE CITY MANAGER TO
ESTABLISH A PROPOSED MILLAGE RATE FOR THE
CITY OF MIAMI, FLORIDA, FOR THE FISCAL YEAR
BEGINNING, OCTOBER 1, 1987 AND ENDING
SEPTEMBER 30, 1988.
WHEREAS, the State Legislature has enacted HB-4D, entitled,
Truth in Pillage (TRIM Bill), which requ;res municipalities to
establish a proposed millage rate; and
WHEREAS, said law stipulates that the proposed millage rate
be submitted to the Property Appraiser and the Tax Collector; and
WHEREAS, said rate will reflect the levy necessary to
realize property tax revenues anticipated in the FY'88 Budget;
and
WHEREAS, the proposed millage rate submitted to the Property
Appraiser is not binding but is necessary for the purpose of
preparation of tax notices;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The City Manager is hereby authorized to
establish a proposed millage rate for the City of Miami, Florida
for the fiscal year beginning October 1, 1987 and ending
September 30, 1988 as follows:
General Operating 9.5995
• Debt Service 2.2224
Total Pillage Rate 11.8219
Section 2. The City Manager is instructed to submit said
proposed millage rates for the City of Miami to the Property
Appraiser and the Tax Collector.
CITY ComMISSION
MEETING OF
JUL }}��9�yy1987
5N No. 87rpm 2
i
1 '
PASSED AND ADOPTED this 9th day of July , 1987.
ATTEST:
T HIRAI, CITY CLERK
BUDGETARY REVIEW AND APPROVAL BY:
MANOHAR ANA, DIRECTOR
DEPARTME MANAGEMENT AND BUDGET
FINANCIAL REVIEW AND APPROVAL:
_L
CARL . GARCIA, DIRECTOR
DEPARTMLNT OF FINANCE
PREPARED AND APPROVED BY:
APPROVED AS TO FORM AND CORRECTNESS:
LUC IA A. DOU HER Y
CITY ATTORNEY
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CITY OF' MIAMI, FLORIDA
INTER -OFFICE MEMORANDUM
to The Honorable Mayor and
Members of the City Commission
FROM Cesar H. Odi o
City Manager �V,
RECOMMENDATION:
tATE July 8, 1987 RILE
SUBJECT proposed Millage Rates
for EY'88
REFERENCES.
ENCLOSURES.
It is recommended that the City Commission approve the attached
Resolution establishing the fiscal year 1987-88 proposed millage
rates for the City of Miami and establish meeting dates and times
of the first and second public hearing.
BACKGROUND:
On June 30, 1980, the State Legislature enacted House Bill-4D
entitled "Truth and Millage (TRIM Bill)." This bill requires
municipalities to establish a proposed millage rate and
stipulates that the proposed millage rate be submitted to the
Property Appraiser and the Tax Collector for the inclusion in the
City's tax notices mailed to property owners.
1 Reduction in Property Taxes
The proposed FY' 88 millage rates for the City of Miami (General
Operating and Debt Service) as compared to FY'87 rates are
outlined below:
Millage Rates
FY'87
FY'88
Inc./Dec.
Change
General Operating
9.8400
9.5995
(.2405)
(2.4)
Debt Service
2.4512
2.2224
.2288
9.3)
Total
12.2912
11.8219
.4693
3.8
For the first time since the inception of the TRIM Bill, the City
of Miami is proposing a general operating millage rate of
9.5995, which is .0483 below the roll back rate of 9.6478. The
proposed aggregate millage rate of 11.8219 is lower by .0872 than
the FY 185 millage rate of 11.9091. This is the second
consecutive year the City has reduced its general operating
millage rate.
Tax Savings to an Average Homeowner
FY'87 FY'88 Inc./Dec % Change
Avg. Value of a Home $63,344 $63,656 $312 .5
Less: Homestead Exempt. 23 2$896 `0$._�__._
Total 'Tax Value •
Taxes $471 $457 $(14) (3.0)
An average homeowner will save $14 under the proposed millage
rate.
Tax Savings to an Average
Commercial
Property
Owner
1• FY'87
FY'88
Inc./Dec
% Change
Avg. Taxable Value $263,269 $267,245 $ 3,976 1.5
Taxes $3,236 $3,159 $(77) (2.4)
An average commercial property owner will save $77 under the
9 P P Y
proposed millage rate.
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WMb MG T
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CITY WP MIAMI. PLOR1HA
sNT1t t-0F1r1C MUMOPANDUM
*O The Honorable Mayor and
Members of the Ity-Commission
FROM! Cesar N. Odi o
City Manager
RECOMMENDATION:
ewte. July 1, 1987 OnLe.
•uirtet= proposed Mi l lage Rates
for Was
RUFFRtNets:
eNeLosVRest
The Department of Management and Budget recommends that the City
Com^;ssion approve the attached Resolution establishing the
f'scal year 1987-88 proposed millage rates for the City of Miami
and establish meeting dates and times of the first and second
public hearing.
8ACKGROUNn:
On June 30, 1980, the State Legislature enacted House 8111-0
entitled "Truth and Millage (TRIM Bill)." This bill requires
municipalities to establish a proposed millage rate and
stipulates that the proposed millage rate be submitted to the
Property Appraiser and the Tax Collector for the inclusion in the
City's tax notices mailed to property owners. This is a proposed
millage rate and may be changed at the time the final budget is
approved.
On July 9, 1987, the City Commission must also establish meeting
dates and times of the first and second public hearing in
connection with the City's FY'88 proposed millage rate and
budget.
said proposed millage rates and public hearing dates will be
provided prior to the meeting.
Attachments:
Proposed Resolution
14.- (
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