M E M O R A N D U M
To: Honorable Mayor and Town Council
From: Rafael G. Casals ICMA-CM, CFM, Town Manager
Date: July 18, 2018
Re: Proposed 2018 Millage Rate Communicated to Property Appraiser
REQUESTTitle
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, IF REQUIRED, WITH THE MIAMI-DADE COUNTY PROPERTY APPRAISER; AUTHORIZING THE TOWN MANAGER TO CHANGE BUDGET HEARING DATES IF NEEDED; AND PROVIDING AN EFFECTIVE DATE.
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BACKGROUND AND ANALYSIS
On June 28, 2018, 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 2018 millage rate (for Fiscal Year 2018-19) and ad valorem tax budget. Under the TRIM statutes, the Town has thirty-five (35) days (i.e. on or before Friday, August 3, 2018) to notify the Property Appraiser, on form DR-420 electronically filed on the eTRIM system, of the Town’s proposed millage rate and the date, time, and place 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 2018 TRIM maximum millage levy calculations, the Town’s maximum millage rate requiring a 2/3 vote of the Town Council is 2.4739 mills (which represents $2.4739 per $1,000 of assessed property value). Staff recommends reporting a proposed millage rate to the Property Appraiser equal to this 2/3 vote maximum millage rate, as was done in prior years.
The Property Appraiser will use the rate set in the accompanying Resolution solely for advertisement purposes and it does NOT lock the Town Council into adopting the higher millage rate. Rather, it serves as a “ceiling” and allows the Town Council to adopt a millage rate equal to or less than the rate without adverse consequence.
In previous years, it has been the Council’s practice to set the initial millage rate higher to enable flexibility leading to the Town’s two (2) public Budget Hearings. For fiscal year 2018-19, Town staff is proposing the hearings to be held on the following dates, times, and locations:
|
DATE |
TIME |
PLACE |
|
1st Budget Hearing September 4, 2018 (Tuesday) |
7:00 PM |
Cutler Bay Town Hall Council Chambers 10720 Caribbean Boulevard Cutler Bay, Florida 33189 |
|
2nd Budget Hearing September 18, 2018 (Tuesday) |
7:00 PM |
Cutler Bay Town Hall Council Chambers 10720 Caribbean Boulevard Cutler Bay, Florida 33189 |
Should the Town Council request to “exceed” the proposed advertised millage rate of 2.4739 mills, all costs for notifying property owners of the “re-TRIM” notice (direct mail), will be a direct expense to the Town.
RECOMMENDATION
It is recommended that the Town Council approve the attached Resolution.