The City of Miramar Commission board met on Wednesday, July 6, 2017 and agreed to pass the 1st reading to establish a proposed millage rate and fire fee assessment for Fiscal Year 2018. An important component to the passing of these fee adjustments are that they are established by Resolution and cannot be increased at a later date without proper written notification to each property owner; prior to a later public hearing. However, they can be decreased.
The proposed millage rate of 6.9999 for tax year 2017 (Fiscal Year 2018) provides for the rolled-back rate, date, time, and place of the public hearing to consider the proposed millage rate and tentative FY 2018 budget. The rolled-back rate is the rate that would generate the same total amount of ad valorem taxes as last year after consideration of new construction, additions and improvements. The current year (Fiscal Year 2017) millage rate is 6.7654. Based on the proposed millage rate of 6.9999, $62.3 million of Ad Valorem tax revenue has been included in the Fiscal Year 2018 proposed budget. This represents an increase of $6.2 million in Ad Valorem tax revenue from Fiscal Year 2017; $4.1 million of this amount is due to the increase in the tax base, while $2.1 is due to the adjustment to the millage rate. The proposed millage rate is 10.58% greater than the rolled-back rate.The proposed millage rate of 6.9999 is 0.2345 mills over last year’s approved millage rate of 6.7654.
The taxable value of Miramar’s property tax base increased to $664 million (7.7%), from $8.610 billion for Fiscal Year 2017 to $9.274 billion for Fiscal Year 2018; of which $72 million consisted of new construction, additions, and improvements added to the tax rolls.
Temp. Reso. No. 6470 at the same meeting presented the proposed fire protection assessment fee for Tax Year 2017. Revenues from this assessment will be collected in the City’s Fiscal Year 2018. The City Manager recommendation includes keeping rates to the level that would fund the full cost of providing fire protection to the City. This would generate revenue estimated in the amount of $20,900,000.
The proposed rates that would fund the full cost of providing fire protection to the City are as follows:
FY 2017 (100%) FY 2018 (100% Full Cost)
Residential $372.84 per unit $372.84 per unit.
Commercial $0.8243 per S.F. $0.8243 per S.F.
Industrial/Warehouse $0.1554 per S.F. $0.1554 per S.F.
Mobile Homes $241.56 per unit $241.56 per unit.
Institutional $0.8810 per S.F. $0.8810 per S.F.
Collectively, the millage rate and fire protection assessment fee represent important pre-determined budgetary planning initiatives.
The public hearing to adopt them and the City’s tentative budget is set for September 13, 2017 at 5:01 p.m. at Miramar City Hall.