M E M O R A N D U M
To: Honorable Mayor and Town Council
From: Rafael G. Casals, Town Manager
Date: July 15, 2015
Re: Proposed 2015 Millage Rate Communicated to Property Appraiser
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A RESOLUTION OF THE MAYOR AND TOWN COUNCIL OF THE TOWN OF CUTLER BAY, FLORIDA, DETERMINING THE PROPOSED MILLAGE RATE, AND THE DATE, TIME AND PLACE FOR THE FIRST AND SECOND PUBLIC BUDGET HEARINGS AS REQUIRED BY LAW; DIRECTING THE TOWN CLERK AND TOWN MANAGER TO FILE THIS RESOLUTION WITH THE PROPERTY APPRAISER OF MIAMI-DADE COUNTY PURSUANT TO THE REQUIREMENTS OF FLORIDA STATUTES AND THE RULES AND REGULATIONS OF THE DEPARTMENT OF REVENUE OF THE STATE OF FLORIDA; AND PROVIDING AN EFFECTIVE DATE.
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BACKGROUND AND ANALYSIS
On July 1, 2015, the Miami-Dade Property Appraiser certified to the Town the taxable value of property within the Town's boundaries to be used to establish its 2015 millage rate (for fiscal year 2015-16) and ad valorem tax budget. Under the TRIM statutes, the Town has 35 days (i.e. on or before Tuesday, August 4, 2015 based on the July 1st certification date) to notify the Property Appraiser, on form DR-420 electronically filed on the eTRIM system, of the Town proposed millage rate and the date of its first public budget hearing. In turn, the Property Appraiser will use that information on the TRIM notices it mails out to all taxpayers in late August.
Under the 2015 TRIM notice requirements, the Town's maximum millage rate requiring a 2/3 vote of the Town Council is 2.5348 mills (which represents $2.5348 per $1,000 of assessed property value). Staff recommends reporting a proposed rate to the Property Appraiser equal to this 2/3 vote maximum millage rate, as was done in the prior year.
The Property Appraiser will use the rate set in the accompanying Resolution solely for advertisement purposes and it does NOT lock the Council into adopting the higher millage rate. Rather, it serves as a "ceiling" and allows ...
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