HomeMy WebLinkAboutSummary FormAGENDA ITEM SUMMARY FORM
15-00792
FILE ID:
Date: 07/07/2015 Requesting Department: Office of Management and Budget
Commission Meeting Date: 07/23/2015 District Impacted: Law Department
Matter ID No.
Type: F;J Resolution F-1 Ord inance E]Emergency Ordinance ❑ Discussion Item
❑ Other
Subject: Setting the FY 2015-16 Millage Cap
Purpose of Item:
To establish millage rate caps for the fiscal year ending September 30, 2016 at:
GeneralOperating 7.6465
Debt Service 0.6886
Total Millage Rate 8.3351
And to set the Budget Hearing dates as follows:
First Budget Hearing- September 10, 2015 at 5:05 pm
Second Budget Hearing- September 24, 2015 at 5:051
Background Information:
See attached.
Budget Impact Analysis
YES Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No:
Special Revenue Account No:
CIP Project No.-
NO
o:NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
Final Approvals
(SIGN AND DATE)
CIP Bu et
If using or receiving capital funds
Grants N/Aisk Management N/A
Purchasing N/A
Chief
•O"""' . AMC!
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Background Information
The City of Miami FY 2015-16 Proposed Operating Budget, as presented on July 7, 2015,
contains the following recommended millage rate:
General Operating 7.6465
Debt Service 0.6886
Total Millage Rate 8.3351
A five- year history of millage rates shows a steady overall decline:
For the City Commission's reference, every tenth mill will generate approximately $3.5 million
for the City of Miami General Fund in the next fiscal year.
Florida Statute Section 200,065 governs the setting the millage rates, adoption of budget, and
the timeframes required of each. It requires that the City of Miami advise the Property Appraiser
of its proposed millage within 35 days of the July 11t certification of value so that the information
can be included in the notice of proposed property taxes mailed to property owners in August.
The same statute governs the timeframes for the first and second budget hearings. The first
hearing must be held between 65 and 80 days of the same July 1 certification of value, which is
no earlier than September 4 and no later than September 19. The City must then hold a second
budget hearing with enough time to provide the final budget and millage rates to the property
appraiser, tax collector, and State of Florida Department of Revenue by October 1.
The City of Miami proposes to set the first budget hearing for September 10, 2015 and the
second budget hearing on September 24, 2015. Miami- Dade County is scheduled to present
their budget hearings on September 3, 2015 and September 17, 2015. The School Board
Budget Meeting is scheduled for September 9t", 2015.
Effectively, the tentative millage adopted represents the upper limit for the millage rates to be
considered in September. The Commission may lower the general operating millage rate at
either of the two budget hearings, but effectively cannot raise it above what is adopted in July.
State law allows for this possibility, but it cannot be practically achieved within the timeframes
provided in state law. According to the Property Appraiser's Office, this re -noticing of millage
rates has not been accomplished even once in the history of the State of Florida.
FY 2011-12
FY 2012-13
FY 2013-14
FY 2014-15
FY 2015-16
Proposed
General Operating
7.5710
7.5710
7.6148
7.6465
7.6465
Debt Service
0.9300
0.9000
0.8162
0.7385
0.6886
Total Millage Rate
8.5010
8.4710
8.4310
8.3850
8.3351
For the City Commission's reference, every tenth mill will generate approximately $3.5 million
for the City of Miami General Fund in the next fiscal year.
Florida Statute Section 200,065 governs the setting the millage rates, adoption of budget, and
the timeframes required of each. It requires that the City of Miami advise the Property Appraiser
of its proposed millage within 35 days of the July 11t certification of value so that the information
can be included in the notice of proposed property taxes mailed to property owners in August.
The same statute governs the timeframes for the first and second budget hearings. The first
hearing must be held between 65 and 80 days of the same July 1 certification of value, which is
no earlier than September 4 and no later than September 19. The City must then hold a second
budget hearing with enough time to provide the final budget and millage rates to the property
appraiser, tax collector, and State of Florida Department of Revenue by October 1.
The City of Miami proposes to set the first budget hearing for September 10, 2015 and the
second budget hearing on September 24, 2015. Miami- Dade County is scheduled to present
their budget hearings on September 3, 2015 and September 17, 2015. The School Board
Budget Meeting is scheduled for September 9t", 2015.
Effectively, the tentative millage adopted represents the upper limit for the millage rates to be
considered in September. The Commission may lower the general operating millage rate at
either of the two budget hearings, but effectively cannot raise it above what is adopted in July.
State law allows for this possibility, but it cannot be practically achieved within the timeframes
provided in state law. According to the Property Appraiser's Office, this re -noticing of millage
rates has not been accomplished even once in the history of the State of Florida.