Reso 2013-2079 - Laserfiche WebLink

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y °n Ee F FLOR U s ejrY Of SUN TO: FROM [BY-All= City of Sunny- Isles Beach 18070 Collins Avenue Sunnv Isles Beach. Florida 33160 (305) 947 -0606 City Hall (305) 949 -3113 Fax MEMORANDUM The Honorable City Commission Christopher J. Russo, City Manager July 18, 2013 City Commission Norman S. Edelcup, Sfayor Isaac Aelion, lice hfaynr Jeanette Gatto. Commissioner Jennifer Lenin. Commissioner George "Bud" Scholl. Commissioner Christopher J. Russo. Ciry kfanager Hans OBinot. Citydtiorney Jane A. [lines, CAfC, City Clerk RE: Resolution Establishing the Maximum City of Sunny Isles Beach Proposed Ad Valorem Tax Millage Levy Rate and Scheduling Budget Hearings RECOMMENDATION: Staff is recommending the City Commission approve the submission of a maximum millage rate of 2.7000 to the Property Appraiser's Office no later than August 2, 2013, and schedule the Budget Hearing dates. REASONS: On July 1, 2013, the Property Appraiser of Miami -Dade County, Florida served the City its Certification of Taxable Value certifying the City's 2013 taxable value is S6,904,085,892.00, which includes new construction and additions value of $3,242,515.00. The 2013 taxable values, including new construction, represents an increase of 13.01% over the 2012 Taxable Values after Value Adjustment Board changes. Without new construction, the increase in taxable values is 12.9624 %. The millage rate at 2.7000 will generate net revenue of $17,708,980.00. Per Florida Statutes, the Commission has the authority to approve a millage rate up to 3.1171 with a two- thirds vote and a millage rate up to 2.8337 with a majority vote. Note that the millage rate submitted to the Property Appraiser's Office by August 2, 2013 is the maximum millage rate the City can set forth for FY 2013/2014 and will be included in the TRIM notices mailed out to the residents by the end of August 2013. We also need to schedule Special City Commission Meetings for the purpose of establishing a Millage rate and consideration of adoption of a proposed budget for Fiscal Year 2013/2014 which needs to be scheduled around the Miami -Dade County Commission and Miami -Dade County School Board meeting schedules. Therefore it is requested that the City Commission schedule a Special City Commission Meeting tentatively on Tuesday, September 17, 2013 at 5:01 p.m. for the First Budget Hearing; and on Thursday, September 26, 2013 at 7:00 p.m. to adopt the Final Budget.