HomeMy WebLinkAbout2014 07 28 Regular 600 FY 2015 Millage CapCOMMISSION AGENDA
ITEM 600
REQUEST:
Informational
Consent
Public Hearings
Regular
X
July 28, 2014 KS SB
Regular Meeting City Manager Department
The City Manager is requesting that the City Commission consider approval of Resolution
2014 -13, computing the Proposed Operating Millage Rate for Fiscal Year 2014 -2015 at
2.4300 mills and voted debt service millage rate at 0.1100 mills, establishing the rolled -back
rate, and setting the date, time and place of a public hearing to consider the proposed
millage rate and tentative budget for Fiscal Year 2014 -2015.
SYNOPSIS:
This agenda item is presented to gain Commission agreement regarding the information to
be communicated to the Property Appraiser on the Form DR -420 which sets the proposed
operating millage rate and voted debt service millage rate; establishes the rolled -back rate;
and sets the date, time and place for the public hearing to consider the proposed millage rate
and tentative budget. This millage rate will be communicated to each property owner by the
Property Appraiser via the annual TRIM notices.
CONSIDERATIONS:
The FY 2013 -2014 (current) millage rate consisted of an operating millage rate of 2.4300
mills and a voted debt service millage rate of 0.1100 mills. The FY 2014 -2015 proposed
budget as transmitted by the City Manager on July 1, 2014, incorporates an operating
millage rate of 2.4300 and a voted debt service millage rate of 0.1100. Gross taxable value
from the Property Appraiser as reflected on the DR 420 is $1,752,158,849 which is
approximately 6.5% more than the DR422 valuation from the prior fiscal year.
Regular 600 PAGE 1 OF 3 - July 28, 2014
This resolution will establish the millage rate cap. The final millage rate can be less
than the adopted millage rate cap, but it cannot exceed the cap without increased
expense to the City.
This proposed millage rate will be applied to the property owners' assessed values
and mailed by the Property Appraiser to each property owner in the form of the
TRIM notice. It will be communicated to the property owner as "the most probable
number for your property taxes" via the TRIM notice insert.
The Resolution also establishes the rolled -back rate at 2.3183 mills as calculated on form
DR -420. The rolled -back millage rate is that rate which produces the same amount of taxes
as levied in the prior year when calculated against the current year's tax base exclusive of
new taxable value (construction, annexations, etc). The proposed operating millage rate of
2.4300 is 4.82% more than the calculated rolled -back rate. The Resolution sets the date,
time and place of the public hearing to consider the proposed millage rate and the tentative
budget — September 8, 2014 at 5:15 pm at 1126 East State Road 434, Winter Springs,
Florida (Commission Chambers). This meeting time cannot change once it has been
reported as such on the DR -420.
FISCAL IMPACT:
The approximate 6.5% increase in property values which has been programmed into the FY
2015 Proposed Budget for the Central Winds General Obligation Debt Service Fund is
insufficient in overcoming the significant and cumulative declines over the last five years.
Consequently, in order to maintain a flat voted debt millage rate (0.1100 mills) a transfer
from the General Fund to the Central Winds Debt Service Fund will be needed in the
amount of $13,000 and has likewise been programmed into the 2015 Proposed Budget.
Given the current valuation (DR420), the ad valorem taxes resulting from a flat voted debt
levy of 0.1100 are approximately $16K less than the refinanced annual debt service
requirement.
COMMUNICATION EFFORTS:
This Agenda Item has been electronically forwarded to the Mayor and City Commission,
City Manager, City Attorney /Staff, and is available on the City's Website, LaserFiche, and
the City's Server. Additionally, portions of this Agenda Item are typed verbatim on the
respective Meeting Agenda which has also been electronically forwarded to the individuals
noted above, and which is also available on the City's Website, LaserFiche, and the City's
Server; has been sent to applicable City Staff, Media/Press Representatives who have
requested Agendas /Agenda Item information, Homeowner's Associations/Representatives
on file with the City, and all individuals who have requested such information. This
information has also been posted outside City Hall, posted inside City Hall with additional
copies available for the General Public, and posted at five (5) different locations around the
City. Furthermore, this information is also available to any individual requestors. City Staff
Regular 600 PAGE 2 OF 3 - July 28, 2014
FY14
FY15
Adopted
Proposed
Budget
Budget
Change
Operating Millage
2.4300
2.4300
0.0000
Voted Debt Millage
0.1100
0.1100
0.0000
Total Millage
2.5400
2.5400
0.0000
This resolution will establish the millage rate cap. The final millage rate can be less
than the adopted millage rate cap, but it cannot exceed the cap without increased
expense to the City.
This proposed millage rate will be applied to the property owners' assessed values
and mailed by the Property Appraiser to each property owner in the form of the
TRIM notice. It will be communicated to the property owner as "the most probable
number for your property taxes" via the TRIM notice insert.
The Resolution also establishes the rolled -back rate at 2.3183 mills as calculated on form
DR -420. The rolled -back millage rate is that rate which produces the same amount of taxes
as levied in the prior year when calculated against the current year's tax base exclusive of
new taxable value (construction, annexations, etc). The proposed operating millage rate of
2.4300 is 4.82% more than the calculated rolled -back rate. The Resolution sets the date,
time and place of the public hearing to consider the proposed millage rate and the tentative
budget — September 8, 2014 at 5:15 pm at 1126 East State Road 434, Winter Springs,
Florida (Commission Chambers). This meeting time cannot change once it has been
reported as such on the DR -420.
FISCAL IMPACT:
The approximate 6.5% increase in property values which has been programmed into the FY
2015 Proposed Budget for the Central Winds General Obligation Debt Service Fund is
insufficient in overcoming the significant and cumulative declines over the last five years.
Consequently, in order to maintain a flat voted debt millage rate (0.1100 mills) a transfer
from the General Fund to the Central Winds Debt Service Fund will be needed in the
amount of $13,000 and has likewise been programmed into the 2015 Proposed Budget.
Given the current valuation (DR420), the ad valorem taxes resulting from a flat voted debt
levy of 0.1100 are approximately $16K less than the refinanced annual debt service
requirement.
COMMUNICATION EFFORTS:
This Agenda Item has been electronically forwarded to the Mayor and City Commission,
City Manager, City Attorney /Staff, and is available on the City's Website, LaserFiche, and
the City's Server. Additionally, portions of this Agenda Item are typed verbatim on the
respective Meeting Agenda which has also been electronically forwarded to the individuals
noted above, and which is also available on the City's Website, LaserFiche, and the City's
Server; has been sent to applicable City Staff, Media/Press Representatives who have
requested Agendas /Agenda Item information, Homeowner's Associations/Representatives
on file with the City, and all individuals who have requested such information. This
information has also been posted outside City Hall, posted inside City Hall with additional
copies available for the General Public, and posted at five (5) different locations around the
City. Furthermore, this information is also available to any individual requestors. City Staff
Regular 600 PAGE 2 OF 3 - July 28, 2014
is always willing to discuss this Agenda Item or any Agenda Item with any interested
individuals.
The budget calendar has been on the City's website since its approval in March and the FY
2015 Proposed Budget was published on the City's website July 3rd. Notice of the 2015
budget workshop was advertised on the City Hall electronic sign and July newsletter.
Additionally, the Property Appraiser will mail each property owner a TRIM notice prior to
the first Public Hearing (September 8, 2014) and the final Public Hearing will be advertised
in the Orlando Sentinel in compliance with and according to Florida statute.
RECOMMENDATION:
It is recommended that the Commission take the following action:
• Adopt Resolution 2014 -13 setting the proposed operating millage rate at 2.4300 mills
and establishing the rolled -back rate at 2.3183 mills and setting the proposed voted
debt service millage rate at 0.1100 mills for a total proposed millage rate of 2.5400
mills.
• Establish the date, time and place for a public hearing regarding the proposed millage
rate and the tentative budget as September 8, 2014 at 5:15 pm at 1126 East State
Road 434, Winter Springs, Florida (Commission Chambers).
ATTACHMENTS:
Resolution 2014 -13
Regular 600 PAGE 3 OF 3 - July 28, 2014
RESOLUTION NUMBER 2014 -13
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
WINTER SPRINGS, FLORIDA, ESTABLISHING THE ROLLED -BACK
RATE; COMPUTING A PROPOSED MIL,LAGE RATE (CAP); AND
SETTING THE DATE, TIME AND PLACE OF A PUBLIC HEARING TO
CONSIDER THE PROPOSED MILLAGE RATE AND TENTATIVE
BUDGET FOR FISCAL YEAR 2014 -2015; PROVIDING FOR REPEAL OF
PRIOR INCONSISTENT RESOLUTIONS; SEVERABILITY; AND AN
EFFECTIVE DATE.
WHEREAS, Florida Statute 200.065 (2) (a) 1 expressly provides that municipalities
shall compute a proposed millage rate; and
WHEREAS, Florida Statute 200.065 (4) (b) requires that within 35 days of certification
of value, each taxing authority shall advise the property appraiser of its proposed millage rate, of
its rolled -back rate, and of the date, time, and place at which a public hearing will be held to
consider the proposed millage rate and the tentative budget; and
WHEREAS, Florida Statute 200.065 (4) (c) further requires that within 80 days of
certification of value, but not earlier than 65 days after certification, the governing body of each
taxing authority shall hold a public hearing on the tentative budget and proposed millage rate;
and
WHEREAS, the City Commission of the City of Winter Springs deems that this
Resolution is in the best interest of the public health, safety, and welfare of the citizens of Winter
Springs.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF WINTER SPRINGS, SEMINOLE COUNTY, FLORIDA, AS FOLLOWS:
Section 1. Incorporation of Recitals. The foregoing recitals are deemed true and correct
and are hereby fully incorporated by this reference.
Section 2. Proposed Milla2e Rate. The proposed operating millage rate for the City of
Winter Springs, Florida for the Fiscal Year 2014 -2015 is set at 2.4300 mills which is 4.82%
greater than the computed aggregate rolled -back rate of 2.3183 mills.
In addition, the proposed millage rate for the City of Winter Springs for voted debt service is
0.1100 mills.
Section 3. Public Hearing. A public hearing shall be held in the City Commission
Chambers located at City Hall, 1126 East State Road 434, Winter Springs, Florida, on September
8, 2014 at 5:15 P.M. to consider the adoption of the proposed millage rate and the tentative
budget for Fiscal Year 2014 -2015.
City of Winter Springs, Florida
Resolution 2014 -13
Page 1 of 2
Section 5. Repeal of Prior Inconsistent Resolutions. All prior resolutions or parts of
resolutions in conflict herewith are hereby repealed to the extent of the conflict.
Section 6. Severability. If any section, subsection, sentence, clause, phrase, word, or
portion of this Resolution is for any reason held invalid or unconstitutional by any court of
competent jurisdiction, such portion shall be deemed a separate, distinct and independent
provision and such holding shall not affect the validity of the remaining portion hereto.
Section 7. Effective Date. This Resolution shall become effective immediately upon
adoption by the City Commission of the City of Winter Springs, Florida.
RESOLVED by the City Commission of the City of Winter Springs, Florida in a regular
Commission meeting assembled on the 28th day of July, 2014.
Charles Lacey, Mayor
ATTEST:
Andrea Lorenzo - Luaces, City Clerk
Approved as to legal form and sufficiency for
the City of Winter Springs only:
Anthony A. Garganese, City Attorney
City of Winter Springs, Florida
Resolution 2014 -13
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