Ordinance 2013-399 - Laserfiche WebLink

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Preview Page 1 of 2 SUNNY fsceJ City of Sunny Isles Beach k. @i 18070 Collins Avenue Kitilgt, j' Sunny Isles Beach, Florida 33160 • • • � 'y. "• FLoa‘OTsSe (305)937-0606 City Hall °•r. o• sus F�° (305)949-3113 Fax MEMORANDUM TO: The Honorable Mayor and City Commission FROM:. Norman S. Edelcup, Mayor DATE: 2/21/2013 RE: Amending Chapter 244 of the City Code to Provide an Additional Homestead Exemption to Qualifying Senior Citizens RECOMMENDATION: This Ordinance is presented for your consideration and approval. REASONS: On November 6, 2012; voters approved Amendment 11 of the Florida Constitution providing an additional homestead exemption for low income seniors that totally exempts a taxing authority portion of taxable value. In order for the exemption to be available to the qualifying seniors within the City, the City Commission is required to amend Chapter 244 of the City Code. The Ordinance granting the additional exemption must be delivered to the Property Appraiser's Office by March 1, 2013 to be effective for the 2013 tax year and to all subsequent tax rolls. Qualifying seniors are entitled to an additional the exemption if: • they are 65 years or older, • have legal and equitable title to real estate located with the City with a just value of less than $250,000, • have maintained their home as a permanent residence for at least 25 years, • have a combined household gross income that does not exceed the income limitation set forth in state law, which is currently $27,030 and adjusted annually, Please note that the additional exemption is in addition to the $50,000 senior citizen homestead exemption already allowed. The financial impact to the City is approximately $3,900 annually. http://sibagenda.sibfl.net/Agenda/Preview.asps?ItemID=973&MeetinglD=O&MeetingDate... 2/14/2013