BH.20 - Levy Ad Valorem Tax Rate

WHEREAS, for the purpose of this Ordinance, the City of Miami ("City") is defined as all of the territory and inhabitants within the area defined in Section 2 of the Charter of the City, entitled "Corporate Limits," and more specifically described in Exhibit "A" of the Charter, on file in the Office of the City Clerk; and

WHEREAS, Section 200.065, Florida Statutes, sets forth the method of fixing a millage rate; and

WHEREAS, on July 1, 2026, the Miami-Dade County Property Appraiser ("PA"), pursuant to Section 200.065(1), Florida Statutes, certified to the City the preliminary taxable value within its territorial limits, set at $110,119,212,046; and

WHEREAS, the City prepared a tentative budget for the fiscal year (“Fiscal Year“) beginning October 1, 2026, and ending September 30, 2027, and computed a total proposed millage rate of 7.3616 which is necessary to fund the tentative budget other than the portion of the budget to be funded from sources other than ad valorem taxes; and

WHEREAS, the Miami City Commission enacted Resolution No. R-26-0320 on July 23, 2026, wherein it directed the City Manager to submit to the PA and Miami-Dade County Tax Collector the total proposed millage rate of 7.3616 mills, together with the required information set forth in Section 200.65(2)(b), Florida Statutes; and

WHEREAS, Section 200.065(5)(a)(1), Florida Statutes, requires that the now proposed tentative millage rate of 7.3616 mills would further require, at the time of the Second Budget Hearing, a two-thirds (2/3rd) vote, or four-fifths (4/5ths) vote of the members of the City Commission, on the final determination to adopt such millage rate; and

WHEREAS, Section 200.065(2)(c), Florida Statutes, requires the City Commission to hold a public hearing on the tentative budget and the proposed millage rate and such public hearing has occurred earlier today in this meeting;

NOW, THEREFORE, BE IT ORDAINED BY THE COMMISSION OF THE CITY OF MIAMI, FLORIDA:

Section 1. The recitals and findings contained in the Preamble to this Ordinance are adopted by reference and incorporated herein as if fully set forth in this Section.

Section 2. There shall be levied an ad valorem tax on all real and personal property in the City at a total tentative rate of 7.3616 mills on the dollar of the taxable value of such property for the Fiscal Year commencing October 1, 2026, and ending September 30, 2027, and is hereby computed as follows:

·7.1080 mills to fund the General Operating Budget.

·0.2536 mills to provide for the payment of maturing principal and interest, and charges and requirements related thereto, of voter approved indebtedness.

Section 3.  The tentative millage rate herein adopted for the purpose of funding the General Operating Budget is 5.94% greater than the statutorily rolled-back rate of 6.7097 mills.

Section 4.  If any section, part of a section, paragraph, clause, phrase or word of this Ordinance is declared invalid, the remaining provisions of the Ordinance shall not be affected.

Section 5.  This Ordinance shall be effective as of October 1, 2026, after final reading and adoption thereof.