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HomeMy WebLinkAboutAgenda Item Summary FormAGENDA ITEM SUMMARY FORM File ID: #12070 Date: 06/06/2022 Commission Meeting Date: 07/28/2022 Requesting Department: Downtown Development Authority Sponsored By: District Impacted: All Type: Resolution Subject: Proposed Millage for FY'22 -'23 DDA Purpose of Item: Section 200.065(2)(a)1, Florida Statutes (2010) ("Statute"), requires each taxing authority to establish a proposed millage rate. The Miami Downtown Development Authority of the City of Miami ("MIAMI DDA") is proposing its FY22-23 proposed millage for the City of Miami Commission's consideration. To establish the millage rate cap for the fiscal year ending September 30, 2023 at: 0.4681 And to set the Budget Hearing dates as follows: First Budget Hearing- Saturday, September 10, 2022 at 10:00 am Second Budget Hearing- Thursday, September 22, 2022 at 5:05 pm Background of Item: Section 200.065(2)(a)1, Florida Statutes (2010) ("Statute"), requires each taxing authority to establish a proposed millage rate. The Statute stipulates that the proposed millage rate be submitted to the Miami -Dade County Property Appraiser and the Tax Collector; and The proposed millage rate reflects the levy necessary to realize property tax revenues anticipated in the Fiscal Year 2022-2023 Budget for the Downtown Development Authority of the City of Miami ("MIAMI DDA"); See attached the backup documentation. Budget Impact Analysis Item is Related to Revenue Item has NOT an Expenditure Item is NOT funded by Bonds Total Fiscal Impact: Downtown Development Authority Office of Management and Budget Office of Management and Budget City Manager's Office Legislative Division Office of the City Attorney Office of the City Attorney Office of the City Attorney City Commission Office of the Mayor Office of the City Clerk Office of the City Clerk Christina Crespi Pedro Lacret Marie Gouin Arthur Noriega V Valentin J Alvarez Xavier Alban Valentin J Alvarez Victoria Mendez Nicole Ewan Mayor's Office City Clerk's Office City Clerk's Office Reviewed B Department Head Review Completed 06/17/2022 11:02 AM Budget Analyst Review Completed 06/21/2022 10:18 AM Budget Review Completed 06/23/2022 11:49 AM City Manager Review Completed 06/28/2022 5:31 PM Legislative Division Review Completed 07/01/2022 11:26 AM ACA Review Completed 07/08/2022 12:18 PM Deputy City Attorney Review Skipped 07/01/2022 10:45 AM Approved Form and Correctness Completed 07/10/2022 10:41 AM Meeting Completed 07/28/2022 9:00 AM Signed by the Mayor Completed 08/05/2022 1:59 PM Signed and Attested by the City Clerk Completed 08/05/2022 2:16 PM Rendered Completed 08/05/2022 2:16 PM City of Miami Legislation Resolution Enactment Number: R-22-0287 City Hall 3500 Pan American Drive Miami, FL 33133 www.miamigov.com File Number: 12070 Final Action Date:7/28/2022 A RESOLUTION OF THE MIAMI CITY COMMISSION COMPUTING A PROPOSED MILLAGE RATE FOR THE MIAMI DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI, FLORIDA ("MIAMI DDA") FOR THE FISCAL YEAR BEGINNING OCTOBER 1, 2022, AND ENDING SEPTEMBER 30, 2023; AUTHORIZING THE EXECUTIVE DIRECTOR TO SUBMIT SAID PROPOSED MILLAGE RATE AND STATUTORILY DEFINED ROLLED -BACK RATE TO THE MIAMI-DADE COUNTY PROPERTY APPRAISER AND MIAMI-DADE COUNTY TAX COLLECTOR TOGETHER WITH THE DATES, TIMES, AND LOCATIONS OF THE PUBLIC HEARINGS AT WHICH THE CITY COMMISSION WILL CONSIDER THE MIAMI DDA'S PROPOSED MILLAGE RATE, TENTATIVE BUDGET, TENTATIVE MILLAGE, FINAL MILLAGE, AND FINAL BUDGET 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 Miami 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; 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 0.4246 mills. Section 3. The proposed millage rate for the MIAMI DDA for the Fiscal Year beginning October 1, 2022 and ending September 30, 2023 is 0.4681 mills, which is 10.24% more than the rolled back rate. Section 4. The MIAMI DDA 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 MIAMI DDA's proposed millage rate, tentative budget, tentative millage, final millage, and final budget for the Fiscal Year beginning October 1, 2022 and ending September 30, 2023 as follows: First Public Budget Hearing on Saturday, September 10, 2022, at 10:00 A.M. in the City Commission Chambers at City Hall, 3500 Pan American Drive, Miami, Florida, 33133, and the Second Public Budget Hearing on Thursday, September 22, 2022, at 5:05 P.M.in the City Commission Chambers at City Hall, 3500 Pan American Drive, Miami, Florida 33133, or such other times, dates, and locations as determined by the City Commission, provided to the Property Appraiser and Tax Collector, and publicly noticed by the City Clerk in accordance with applicable laws, rules, and regulations. Section 5. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.2 APPROVED AS TO FORM AND CORRECTNESS: ndez, ity ttor ey 7110/2022 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.