HomeMy WebLinkAboutR-24-0279City of Miami
Resolution R-24-0279
Legislation
City Hall
3500 Pan American Drive
Miami, FL 33133
www.miamigov.com
File Number: 16203 Final Action Date: 7/25/2024
A RESOLUTION OF THE MIAMI CITY COMMISSION COMPUTING A
PROPOSED MILLAGE RATE FOR THE DOWNTOWN DEVELOPMENT
AUTHORITY OF THE CITY OF MIAMI, FLORIDA ("MIAMI DDA") FOR THE
FISCAL YEAR BEGINNING OCTOBER 1, 2024, AND ENDING SEPTEMBER
30, 2025; AUTHORIZING THE CHIEF EXECUTIVE OFFICER/EXECUTIVE
DIRECTOR OF THE MIAMI DDA TO SUBMIT BOTH SAID PROPOSED
MILLAGE RATE OF 0.4505 MILLS AND STATUTORILY DEFINED ROLLED -
BACK MILLAGE RATE OF 0.4262 MILLS TO THE MIAMI-DADE COUNTY
PROPERTY APPRAISER AND TAX COLLECTOR TOGETHER WITH THE
DATES, TIMES, AND LOCATIONS OF THE PUBLIC HEARINGS AT WHICH
THE CITY COMMISSION WILL CONSIDER THE PROPOSED MILLAGE RATE,
THE TENTATIVE BUDGET, THE TENTATIVE MILLAGE, FINAL MILLAGE, AND
FINAL BUDGET FOR THE MIAMI DDA FOR SAID FISCAL YEAR.
WHEREAS, Section 200.065, Florida Statutes ("Statute"), sets forth requirements for the
"Truth in Millage" ("TRIM") notice and requires each taxing authority to establish a proposed
millage rate and to determine the statutorily defined rolled -back rate; and
WHEREAS, the Statute stipulates that said proposed millage rate and statutorily defined
rolled -back rate be submitted to the Miami -Dade County Property Appraiser ("Property
Appraiser") and the Miami -Dade County Tax Collector ("Tax Collector"); and
WHEREAS, said proposed millage rate will reflect the levy necessary to fund the
Downtown Development Authority of the City of Miami, Florida's ("MIAMI DDA") tentative budget
other than the portion of the budget to be funded from sources other than ad valorem taxes; and
WHEREAS, the Statute defines the "rolled back millage rate" as a millage rate which,
with certain specified exclusions, will provide the same ad valorem tax revenue for each taxing
authority as was levied during the prior year less the amount, if any, paid or applied as a
consequence of an obligation measured by the dedicated increment value; and
WHEREAS, the exclusions to the rolled back millage rate are "new construction,
additions to structures, deletions, increases in the value of improvements that have undergone a
substantial rehabilitation which increased the assessed value of such improvements by at least
one hundred (100%), property added due to geographic boundary changes, total taxable value
of tangible personal property within the jurisdiction in excess of one hundred fifteen percent
(115%) of the previous year's total taxable value, and any dedicated increment value"; and
WHEREAS, the proposed millage rate submitted to the Property Appraiser and the Tax
Collector is not binding but is necessary for the purpose of preparation of TRIM notices;
City of Miami Page 1 of 2 File ID: 16203 (Revision: A) Printed On: 7/29/2024
File ID: 16203 Enactment Number: R-24-0279
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE CITY OF
MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are
adopted by reference and incorporated herein as if fully set forth in this Section.
Section 2. The MIAMI DDA's rolled back rate is 0.4262 mills.
Section 3. The proposed millage rate for the MIAMI DDA for the Fiscal Year beginning
October 1, 2024, and ending September 30, 2025, is 0.4505 mills, which is 5.70% more than
the rolled back rate.
Section 4. The Chief Executive Officer/Executive Director is hereby authorized' to
submit forthwith the rolled back rate and the proposed millage rate for the MIAMI DDA to the
Property Appraiser and to the Tax Collector together with the dates, times, and locations at
which the City Commission will hold public hearings to consider the proposed millage rate, the
tentative budget, tentative millage, final millage, and final budget for the MIAMI DDA for said
fiscal year as follows: First Public Budget Hearing on Saturday, September 7, 2024, at 10:00
A.M. in the City Commission Chambers at City Hall located at 3500 Pan American Drive, Miami,
Florida, or at such other time, date, location, as otherwise allowed by Florida laws. Second
Public Budget Hearing on Thursday, September 26, 2024, at 5:05 P.M.in the City Commission
Chambers at City Hall located at 3500 Pan American Drive, Miami, Florida, or at such other
time, date, location, as otherwise allowed by Florida laws.
Section 5. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.2
APPROVED AS TO FORM AND CORRECTNESS:
1 The herein authorization is further subject to compliance with all legal requirements that may be
imposed, including but not limited to, those prescribed by applicable City Charter and City Code
provisions.
If the Mayor does not sign this Resolution, it shall become effective at the end of ten (10) calendar days
from the date it was passed and adopted. If the Mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
City of Miami Page 2 of 2 File ID: 16203 (Revision: A) Printed on: 7/29/2024