C7AN - Prepare Budget at Rolled-back Rate
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A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, DIRECTING THE CITY ADMINISTRATION, AS PART OF THE FISCAL YEAR 2027 BUDGET PROCESS, TO PREPARE THE CITY’S OPERATING BUDGET BASED ON THE PROJECTED “ROLLED-BACK” MILLAGE RATE, ONCE THE PRELIMINARY TAX ROLL ESTIMATE IS ISSUED BY THE MIAMI-DADE COUNTY PROPERTY APPRAISER; RECOGNIZING THAT A TAXING AUTHORITY WHICH TENTATIVELY ADOPTS A MILLAGE RATE ABOVE 100 PERCENT OF THE ROLLED-BACK RATE MUST PUBLICLY ADVERTISE A NOTICE OF PROPOSED TAX INCREASE AS MANDATED BY § 200.065(3)(A), FLORIDA STATUTES; NOTING THAT NEW CONSTRUCTION IS EXCLUDED FROM THE CALCULATION OF THE ROLLED-BACK RATE AND THAT, ONCE INCLUDED IN THE TAX BASE, NEW CONSTRUCTION THAT IS SUBJECT TO AD VALOREM TAX WILL INCREMENTALLY INCREASE PROPERTY TAX REVENUES; AND EXPRESSING THE CITY COMMISSION’S CONCERN THAT GOVERNMENT SPENDING HAS GROWN AT AN UNSUSTAINABLE RATE FAR EXCEEDING INFLATION, WHICH COULD IMPACT THE LONG-TERM FISCAL STABILITY OF THE CITY.
Sponsors
Detailed Information
Cached: 2 weeks agoResolutions - C7 AN
C7 AN A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, DIRECTING THE CITY ADMINISTRATION, AS PART OF THE FISCAL YEAR 2027 BUDGET PROCESS, TO PREPARE THE CITY’S OPERATING BUDGET BASED ON THE PROJECTED “ROLLED-BACK” MILLAGE RATE, ONCE THE PRELIMINARY TAX ROLL ESTIMATE IS ISSUED BY THE MIAMI-DADE COUNTY PROPERTY APPRAISER; RECOGNIZING THAT A TAXING AUTHORITY WHICH TENTATIVELY ADOPTS A MILLAGE RATE ABOVE 100 PERCENT OF THE ROLLED-BACK RATE MUST PUBLICLY ADVERTISE A NOTICE OF PROPOSED TAX INCREASE AS MANDATED BY § 200.065(3)(A), FLORIDA STATUTES; NOTING THAT NEW CONSTRUCTION IS EXCLUDED FROM THE CALCULATION OF THE ROLLED-BACK RATE AND THAT, ONCE INCLUDED IN THE TAX BASE, NEW CONSTRUCTION THAT IS SUBJECT TO AD VALOREM TAX WILL INCREMENTALLY INCREASE PROPERTY TAX REVENUES; AND EXPRESSING THE CITY COMMISSION’S CONCERN THAT GOVERNMENT SPENDING HAS GROWN AT AN UNSUSTAINABLE RATE FAR EXCEEDING INFLATION, WHICH COULD IMPACT THE LONG-TERM FISCAL STABILITY OF THE CITY. Applicable Area:
COMMISSION MEMORANDUM
RECOMMENDATION
BACKGROUND/HISTORY
ANALYSIS
The attached Resolution was prepared at the request of the sponsor, Commissioner David Suarez.
FISCAL IMPACT STATEMENT
N/A
Does this Ordinance require a Business Impact Estimate? (FOR ORDINANCES ONLY)
If applicable, the Business Impact Estimate (BIE) was published on: See BIE at: https://www.miamibeachfl.gov/city-hall/city-clerk/meeting-notices/
FINANCIAL INFORMATION
CONCLUSION
Applicable Area
Citywide
Is this a “Residents Right to Know” item, pursuant to City Code Section 2-17?
Is this item related to a G.O. Bond Project?
No
No
Was this Agenda Item initially requested by a lobbyist which, as defined in Code Sec. 2-481, includes a principal engaged in lobbying? No
If so, specify the name of lobbyist(s) and principal(s):
Department
City Attorney
Sponsor(s)
Commissioner David Suarez
Co-sponsor(s)
Condensed Title
Prepare FY 2027 Budget Based on Projected Rolled-Back Rate. (Suarez) CA
Previous Action (For City Clerk Use Only)