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CERTIFICATION OF TAXABLE VALUE
Print Form
DR-420
R. 5/12
Rule 12D-16.002
Florida Administrative Code
Effective 11/12
Year: 2024
County: Miami -Dade
Principal Authority :
Miami Downtown Development Authority
Taxing Authority :
Miami Downtown Development Authroity - Operating
SECTION I : COMPLETED BY PROPERTY APPRAISER
1.
Current year taxable value of real property for operating purposes
$ 28,661,633,269
(1)
2.
Current year taxable value of personal property for operating purposes
$ 1,346,241,942
(2)
3.
Current year taxable value of centrally assessed property for operating purposes
$ 59,649,753
(3)
4.
Current year gross taxable value for operating purposes (Line 1 plus Line 2 plus Line 3)
$ 30,067,524,964
(4)
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.)
$ 205,118,359
(5)
6.
Current year adjusted taxable value (Line 4 minus Line 5)
$ 29,862,406,605
(6)
7.
Prior year FINAL gross taxable value from prior year applicable Form DR-403 series
$ 27,233,041,179
(7)
8
Does the taxing authority include tax increment financing areas? If yes, enter number
of worksheets (DR-420TIF) attached. If none, enter 0
❑ YES
Number
0
(8)
NO
9.
Does 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 forms attached. If none, enter 0
YES
Number
0
(9)
✓ NO
SIGN
HERE
Property Appraiser Certification
1 certify the taxable values above are correct to the best of my knowledge.
Signature of Property Appraiser:
Electronically Certified by Property Appraiser
Date :
7/1/2024 2:19:07 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
millage from Form DR-422)
0.4673 per $1,000
(10)
11.
Prior year ad valorem proceeds (Line 7 multiplied by Line 10, divided by 1,000)
$ 12,726,000
(11)
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-420T1F forms)
$ 0
(12)
13.
Adjusted prior year ad valorem proceeds (Line 11 minus Line 12)
$ 12,726,000
(13)
14.
Dedicated 1 ncrement value, if any (Sum of either Line 6b or Line 7e for all DR-420T1F forms)
$ 0
(14)
15.
Adjusted current year taxable value (Line 6 minus Line 14)
$ 29,862,406,605
(15)
16.
Current year rolled -back rate (Line 13 divided by Line 15, multiplied by 1,000)
0.4262 per $1000
(16)
17.
Current year proposed operating millage rate
0.4505 per $1000
(17)
18.Total
taxes to be levied at proposed millage rate (Line 17 multiplied by Line 4, divided
by 1,000)
13,545,420
$
(18)
Continued on page 2
DR-420
R. 5/12
Page 2
19
TYPE of principal authority (check one) County
❑ Municipality
,/
❑
Independent Special District
Water Management District
(19)
20
Applicable taxing authority (check one)
/
❑
Principal Authority ❑ Dependent Special District
MSTU ❑ Water Management District Basin
(20)
21.
Is millage levied in more than one county? (check one)
/
Yes ❑ No
(21)
DEPENDENT SPECIAL DISTRICTS AND MSTUs
STOP
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)
$ 12,726,000
(22)
23.
Current year aggregate rolled -back rate (Line 22 divided by Line 15, multiplied by 1,000)
0.4262 per $1,000
(23)
24.
Current year aggregate rolled -back taxes (Line 4 multiplied by Line 23, divided by 1,000)
$ 12,814,779
(24)
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)
$ 13,545,420
(25)
26.Current
year proposed aggregate millage rate (Line 25 divided by Line 4, multiplied
by 1,000)
0.4505 per $1,000
(26)
27
Current year proposed rate as a percent change of rolled -back rate (Line 26 divided by
Line 23, minus 1, multiplied by 100)
5.7000 %
(27)
First public
budget hearing
Date :
9/7/2024
Time :
10:00 AM EST
Place :
City Commission Chambers at City Hall, 3500 Pan American
Drive Miami, Florida 33133
1
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 :
Instructions on page 3
CERTIFICATION OF TAXABLE VALUE
INSTRUCTIONS
DR-420
R. 5/12
Page 3
"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 Section II: Taxing Authority
Use this DR-420 form for all taxing authorities except school Complete Section II. Keep one copy, return the original and
districts. Complete Section I, Lines 1 through 9, for each county, one copy to your property appraiser with the applicable
municipality, independent special district, dependent special DR-420TIF, DR-420DEBT, and DR-420MM-P within 35 days
district, MSTU, and multicounty taxing authority. Enter only of certification. Send one copy to the tax collector. "Dependent
taxable values that apply to the taxing authority indicated. Use a special district" (ss. 200.001(8)(d) and 189.403(2), F.S.)
separate form for the principal authority and each dependent means a special district that meets at least one of the
district, MSTU and water management district basin. following criteria:
Line 8 • The membership of its governing body is identical to that of
the governing body of a single county or a single
municipality.
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 • All members of its governing body are appointed by the
agreement to fund a project or to finance essential infrastructure. governing body of a single county or a single
municipality.
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
• 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://dor.myflorida.com/dor/property/trim
FLORIDA
Reset Form
MAXIMUM MILLAGE LEVY CALCULATION
PRELIMINARY DISCLOSURE
For municipal governments, counties, and special districts
Print Form
DR-420MM-P
R. 5/12
Rule 12D-16.002
Florida Administrative Code
Effective 11/12
Year: 2024
County: Miami -Dade
Principal Authority :
Miami Downtown Development Authority
Taxing Authority:
Miami Downtown Development Authroity - Operating
1
Is your taxing authority a municipality or independent special district that has levied
ad valorem taxes for less than 5 years?
(1)
Yes
I No
IF YES, GTO P ; 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
0.4262 per $1,000
(2)
3.
Prior year maximum millage rate with a majority vote from 2023 Form DR-420MM, Line 13
0.4659 per $1,000
(3)
4.
Prior year operating millage rate from Current Year Form DR-420, Line 10
0.4673 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 year final gross taxable value from Current Year Form DR-420, Line 7
$ 27,233,041,179
(5)
6
Prior year maximum ad valorem proceeds with majority vote
(Line 3 multiplied by Line 5 divided by 1,000)
$
(6)
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
$ 0
(7)
8.
Adjusted prior year ad valorem proceeds with majority vote (Line 6 minus Line 7)
$
(8)
9.
Adjusted current year taxable value from Current Year form DR-420 Line 15
$ 29,862,406,605
(9)
10.
Adjusted current year rolled -back rate (Line 8 divided byline 9, multiplied by 1,000)
per $1,000
(10)
Calculate maximum millage levy
11.
Rolled -back rate to be used for maximum millage levy calculation
(Enter Line 10 if adjusted or else enter Line 2)
0.4262 per $1,000
(11)
12.
Adjustment for change in per capita Florida personal income (See Line 12 Instructions)
1.0569
(12)
13.
Majority vote maximum millage rate allowed (Line 11 multiplied by Line 12)
0.4505 per $1,000
(13)
14.
Two-thirds vote maximum millage rate allowed (Multiply Line 13 by 1.10)
0.4956 per $1,000
(14)
15.
Current year proposed millage rate
0.4505 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.
17.The
selection on Line 16 allows a maximum millage rate of
(Enter rate indicated by choice on Line 16)
0.4505 per $1,000
(17)
18.
Current year gross taxable value from Current Year Form DR-420, Line 4
$ 30,067,524,964
(18)
Continued on page 2
Taxing Authority :
DR 420MM P
R. 5/12
Page 2
19.
Current year proposed taxes (Line 15 multiplied by Line 18, divided by 1,000)
$ 13,545,420
(19)
20.Total taxes levied at the maximum millage rate (Line 17multiplied by Line 18, divided
by 1,000)
$ 13,545,420
(20)
DEPENDENT SPECIAL DISTRICTS AND MSTUs
STOP
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 21)
$ 13,545,420
(22)
Total Maximum Taxes
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-420MM-P)
$ 0
(23)
24.
Total taxes at maximum millage rate (Line 20 plus Line 23)
$ 13,545,420
(24)
Total Maximum Versus Total Taxes Levied
25
Are total current year proposed 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
1
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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 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
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
2024 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
DR-420MM-P
R. 5/12
Page 3
Lines 5-10
Only taxing authorities that levied a 2024 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
2024 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
RESOLUTION NO. 014/2024
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE
DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF
MIAMI, FLORIDA AUTHORIZING THE EXECUTIVE DIRECTOR
TO ESTABLISH A PROPOSED MILLAGE RATE FOR THE
DOWNTOWN DEVELOPMENT DISTRICT OF THE CITY OF
MIAMI, FLORIDA FOR THE FISCAL YEAR BEGINNING
OCTOBER 1, 2024 AND ENDING SEPTEMBER 30, 2025 AT
0.4505MILLS.
WHEREAS, Section 200.065(2)(a)1, Florida Statutes (2017) ("Statute"), requires each taxing
authority to establish a proposed millage rate; and
WHEREAS, the Statute stipulates that the proposed millage rate be submitted to the Miami -Dade
County Property Appraiser and the Tax Collector; and
WHEREAS, the proposed millage rate reflects the levy necessary to realize property tax revenues
anticipated in the Fiscal Year 2024-2025 Budget for the Downtown Development Authority of the City of
Miami ("Miami DDA"); and
WHEREAS, the Statute requires that the proposed tax rate be included on tax notices; and
WHEREAS, the proposed millage rate submitted to the Property Appraiser is not binding but
necessary for the purpose of preparation of tax notices;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals are true and correct and are adopted by reference and incorporated as
if fully set forth in this Section.
Section 2. The Miami DDA Board of Directors hereby authorizes the CEO/Executive
Director to establish a proposed millage rate for the Downtown Development District of the City of Miami,
Florida ("District") for the Fiscal Year beginning October 1, 2024 and ending September 30, 2025 at 0.4505
mills.
Section 3. The CEO/Executive Director of the Miami DDA is instructed to submit said
proposed millage rate for the Downtown Development District of the City of Miami, Florida to the Miami -
Dade County Property Appraiser and Tax Collector.
Section 4. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 12th day of July, 2024.
ATTEST:
Elvira Manon
Executive Secretary to the Board of Directors
Manolo Reyes
istina Crespi, CEO/Executive Director
2
RESOLUTION NO. 015/2024
A RESOLUTION OF THE BOARD OF DIRECTORS OF THE DOWNTOWN
DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA ("MIAMI
DDA") APPROVING THE PRELIMINARY ANNUAL BUDGET OF THE MIAMI
DDA FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2024 AND ENDING
SEPTEMBER 30, 2025; REQUESTING THAT THE MIAMI CITY COMMISSION
ESTABLISH THE MILLAGE TO SUPPORT THE FINANCIAL REQUIREMENTS
OF THE BUDGET; AUTHORIZING THE CEO/EXECUTIVE DIRECTOR OF THE
MIAMI DDA TO EXPEND FUNDS FOR THE BUDGET; DIRECTING THE
CEO/EXECUTIVE DIRECTOR TO FILE A DETAILED STATEMENT OF THE
PROPOSED EXPENDITURES AND ESTIMATED REVENUES FOR THE
FISCAL YEAR BEGINNING OCTOBER 1, 2024 AND ENDING SEPTEMBER 30,
2025 WITH THE CITY CLERK OF THE CITY OF MIAMI ("CLERK") AFTER
ADOPTION AND ESTABLISHMENT OF THE MILLAGE BY THE MIAMI CITY
COMMISSION; AND FURTHER PROVIDING THAT A COPY OF THIS
RESOLUTION BE FILED WITH THE CLERK.
WHEREAS, the Downtown Development Authority of the City of Miami, Florida ("Miami
DDA") has prepared a preliminary budget for the Fiscal Year beginning October 1, 2024 and ending
September 30, 2025 ("Fiscal Year"); and
WHEREAS, the Board of Directors of the Miami DDA has reviewed said budget on the
Estimated Tax Roll provided by Miami -Dade County; and
WHEREAS, the Board of Directors of the Miami DDA finds that the proposed budget is
necessary in order to further the objectives of the Miami DDA, as authorized by the Code of the
City of Miami, Florida, as amended;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE
MIAMI DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals are true and correct and are adopted by reference and
incorporated as if fully set forth in this Section.
Section 2. The preliminary budget of the Miami DDA, as submitted by the
CEO/Executive Director is made part of this Resolution and is hereby approved and shall be known
as the "Annual Budget of the Miami Downtown Development Authority: Fiscal Year October 1,
2024 through September 30, 2025".
Section 3. The following appropriations for the Fiscal Year beginning October 1,
2024 and ending September 30, 2025 are hereby made for the purpose of financing the operations
and other legal and proper purposes of the Miami DDA:
GENERAL FUND
Revenue Sources
Ad Valorem Tax Levy 0.4505 Miliege per$1000 $ 13,550,000
Reimbursements 3,019,490
Total Revenues 16,569,490
Reserve and Carryover 5,169,210
Total Revenues and Balances 21,738,700
Operating Expenditures
General Expenses 3,854,710
Leadership, Advocacy and Operations 2,116,000
Quality of Life & Enhanced Services 7,355,490
Arts, Culture & Entertainment 1,225,000
Urbanism 2,800,000
Business Development 3,710,000
Total Operating Expenditures 21,061,200
Fund Balances and Reserves 677.500
Total Expenditures, Reserves, and Balances 21,738,700
Section 4. The CEO/Executive Director is directed to submit a copy of this
preliminary budget as well as this Resolution to the Miami City Commission and to request the
Miami City Commission to adopt said preliminary budget and establish the millage, authorized by
law, to support the financial requirements of this budget.
Section 5. The CEO/Executive Director is authorized to expend funds, including new
salary rates, as provided in said budget, after adoption and establishment of the millage by the
Miami City Commission, beginning October 1, 2024.
Section 6. The CEO/Executive Director is directed to prepare and file with the City
Clerk of the City of Miami, Florida ("Clerk") a detailed statement of the proposed expenditures
and estimated revenues for the Fiscal Year 2024-2025, which shall be entitled "Annual Budget of
the Miami Downtown Development Authority: Fiscal Year October 1, 2024 through September
30, 2025".
Section 7. A copy of this Resolution and the attachment(s) shall be filed with the
Clerk after adoption of the millage by the Miami City Commission.
Section 8. This Resolution shall become effective immediately upon its adoption.
PASSED AND ADOPTED this 12th day of July, 2024.
ATTEST:
Commissioner
anolo Reyes, Chairman
Chris pi, CEO/Executive Director
Executive Secretary to the Board of the Directors
2