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HomeMy WebLinkAboutDocumentation_Workshop_Tab 05_9/2/2025 Agenda Item #5. Workshop STAFF MEMO x Meeting: Workshop - Sep 02 2025 Staff Contact: Jeremy Allen, Village Manager Department: Manager i Discuss the Community Outreach Strategy by the Florida League of Cities on Property Tax Reform This item outlines a proposed outreach initiative leveraging the Florida League of Cities' Florida Formula Toolkit to educate residents on our property tax system, dispel common misconceptions, and reinforce the value of local services funded through ad valorem revenues. The (Florida Formula Toolkit— Florida League of Cities:) provides: • A short educational video explaining the Save Our Homes provision, housing affordability factors, and property tax myths vs. facts • City-specific data packets showing how property taxes fund essential services (The Village has requested a specific data packet for the Village to use to educate). • Shareable visuals and messaging for public engagement Outreach Objectives: • Clarify how property taxes are assessed and used • Build trust by correcting misconceptions (e.g., cities do not control all aspects of tax rates) • Highlight value of services supported by property taxes (e.g., police, fire, parks) • Support equity messaging around protections for long-term homeowners Village-specific data has been provided by FLC. This data packet can be used by staff and elected officials to use for discussion on the impacts of property taxes on local governments. This packet will be shared with the state representatives. The Florida League of Cities Property Tax presentation has been included. There is overall data from the State of Florida, as well as specific cities. This document and any attachments may be reproduced upon request in an alternative format by completing our Accessibility Feedback Form, sending an e-mail to the Village Clerk or calling 561- 768-0443. BUDGET • • BUDGET AMOUNT NA AMOUNT AVAILABLE NA EXPENDITURE AMOUNT: NA FUNDING SOURCES: NA IS THIS A PIGGYBACK: ❑ Yes ❑ N/A Page 393 of 430 Agenda Item #5. DID YOU OBTAIN 3 QUOTES? ❑ Yes ❑ N/A COMMENTS/EXPLANATION ON SELECTIONNA Legislative Data Packet - Teguesta FLC-Annual-Conference PowerPoint-P rope rty-Tax FINAL-8.14.25 Page 394 of 430 Agenda Item #5. Village of Tequesta Data Packet OVERVIEW This packet contains property tax data specific to the Village of Tequesta, including how local revenues fund essential services such as public safety and infrastructure.The information is intended to provide helpful, local context for evaluating proposals that may affect municipal funding. FLORIDA F LEAGUE OF CITIES Page 395 of 430 Ag n4glAtWoMquesta Data Packet MUNICIPAL MILLAGE RATE TRENDS FROM 2020-2024*' ► Approximately 71% of cities have 2024 millage rates at or below their 2020 rate ► Approximately 65% of cities have not increased their millage rate in the past five years ► Approximately 53% of cities have decreased their millage rate at least once over the past five years (including those using the rolled-back rate) *Not a/l municipal governments in Florida choose to impose the property tax.Home Rule,or local self-government, is part of the Florida Constitution,and under Home Rule,this levy is a choice for each municipality.Not all municipalities chose to levy property taxes between 2020 and 2024.In order to qualify for milloge trend analysis,the municipality must have chosen to levy property taxes for all four years(2020-2024).In that time,391 cities levied property taxes. The Florida Department of Revenue keeps this data. GLOSSARY: Ad valorem:A Latin phrase that means "value of." It is the term used in the Florida Constitution for the property tax allowed for county, school district, and municipal governments. A few special districts have this authority(water management districts, for example); however, it is not widely available to special districts.This tax is applied to real property(but not personal property) in Florida. This tax is imposed annually, with data from the property appraiser's office in each county. Millage rates are adopted with final budget hearings in September each year. Source:Florida Constitution,Article Vll, Section 9, and Article Vlll. Assessed valuation:This term is used by the county property appraiser for determining the value of every county property(including municipal). It should not be confused with market value. Homestead exemption: The exemption was first created by the Florida Legislature in the 1800s to encourage pioneers and settlers to make Florida their permanent home.This incentive has ranged from $2,500 to $50,000. It has numerous caps and limits on it for a variety of conditions by law. Each governing organization (county, municipality, and school district) must carve out caps and limits from applying; however, these calculations are usually done for all properties by the county property appraiser to simplify this process. A few examples of exemptions include widows, blind persons, physically disabled persons, and agricultural land.The current increase in the exemption is 3% per year and is set by Florida law. 'Office of Economic and Demographic Research, Municipal Ad Valorem. FLORIDA '+ LEAGUE OF CITIES Page 396 of 430 Ag n4glAtWoMquesta Data Packet Millage rate: From Latin, "mill" is 1,000. Millage rate is the common term used for the number that is multiplied to calculate the rate for each property being taxed. Most governments use up to 10 digits of this tax to make it easier to approve small increases over time.The amount of millage is capped at 10 mills for each county, school district, and municipality. Source: Chapter 200.065, Florida Statutes. Rolled-back rate:The rolled-back rate was first established in the 1980s as a form of relief from higher taxation levels across Florida.The Legislature mandated that each county, municipality, and school district use a rate "rolled back" to equal the sum from the previous year. To calculate this rate, the local government looks at the previous year's values, notes any growth in the values (residential, commercial, and other categories), and then subtracts this year from the previous year to find the difference.The local governments seek to match the total revenues generated by the previous year's sum so that growth in the valuation is not unfairly higher than the millage rate being imposed. If a local government doesn't stick to the rolled-back rate, that government must have a supermajority(a specific large majority) or even a unanimous vote of the council to go above it. Source: Chapter 200.065, Florida Statutes. Save Our Homes:This constitutional amendment limits the annual increase in the assessed value of homesteaded properties.Voters approved this measure due to concerns that some groups in Florida's population had seen double-digit increases in their taxes because the values had greatly increased. It was adopted in 1998. FLORIDA '+ LEAGUE OF CITIES Page 397 of 430 Ag nqA1111WAL-questa Data Packet MILLAGE RATE BREAKDOWN FY 20242 This image shows the proportionate Mz ' 1 Y share of each taxing authority within the Village of Tequesta for every AA 01234567 B dollar a resident pays in property I taxes.For example:if the total millage rate charged by a municipality was 0.2500 and the total millage 567 B rates charged by the county,school district,municipality,and special districts within the municipality / totaled 7.0000,then 25 cents for 26.35 C 32.63 C 33.38 C 7.64 C every dollar paid towards property County School Municipality Special Districts taxes by a resident in the municipality would go towards the municipality. Entity Millage Rate MillagePercentage County S.098S 26.3S% School 6.314 32.63% Municipality 6.4S9S 33.38% Special Districts 1.478 7.64% Total 19.35 100.00% 'Collected from County Tax Collector. FLORIDA LEAGUE ® OF CITIES Page 398 of 430 Ag n4AIIAtWoMquesta Data Packet AD VALOREM REVENUE COMPARED TO PUBLIC SAFETY EXPENDITURES3 The graph represents the amount of ad valorem revenue collected by the Village of Tequesta compared to public safety expenditures for fiscal years 2019-2023. $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 2019 2020 2021 2022 2023 Year ■Ad Val Revenue ■Law Enforcement and Fire Control Expenditures 3Ad Valorem Revenue and Public Safety Expenditure Data: Expenditures and Revenues Reported by Florida's Municipal Governments to the Florida Department of Financial LEAGUFLORIDA FL LEAGUE Services as reported by the Office of Economic and Demographic Research. OF CITIES Page 399 of 430 Ag n4AIMILPAL-questa Data Packet JUST VALUE V. TAXABLE VALUE This graph represents the difference between the total in just value versus the taxable value for property within the Village of Tequesta.This graph shows the effect of how Save Our Homes compounds over time. As residents continue to stay in their homes and have their annual assessed rates capped, the gap between the just value and taxable value of properties has increased.The introduction of more exemptions over time has also caused this increase in the gap between the just value and taxable value of properties. ► Just value is the fair market value of the home, while the taxable value is the value of the home exclusive of all qualifying exemptions and assessment limitations for the property. Inflation Adjusted-Just Value Total Just Value v.Total Taxable Value Inflation Adjusted-Taxable Value House District:All,Senate District:All,County:Palm Beach,Municipality:Tequesta 7,222.825 36 2,052,400,145 2B ,438,117,381 ,016,766,767 1B 0B 2006 2007 20M 20M 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2W 2023 2024 2025 `'Office of Economic and Demographic Research, Municipal Ad Valorem. FLORIDA LEAGUE • • F OF CITIES Page 400 of 430 Ag n4AIIAtWoMquesta Data Packet REVENUES5 The graph represents unrestricted revenue sources compared to restricted revenue sources. Unrestricted revenue sources are the constitutionally authorized revenue sources that municipalities may use for whatever municipal purpose. While cities may utilize other types of unrestricted revenue, this data packet defines them as ad valorem taxes, municipal utility taxes, communications services tax, and local business tax. Restricted revenue sources include every other tax that municipalities are authorized to levy. However, these taxes must only be used for the purpose authorized by law. Examples of restricted revenue sources include the permit fee paid by a builder or the fee paid to use a park facility. Unrestricted Compared to Restricted Revenue Sources $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000,000 $10,000,000 $5,000,0010 8 7% 8 8% 8 7% 86% 87%j $0 2019 2020 2021 2022 2023 Year % is Ad Valorem ■Unrestricted Revenue Restricted Revenue UNRESTRICTED REVENUES FOR FY 2023 This chart depicts unrestricted revenues for the Village of Tequesta for fiscal year 2023. Revenue Sources FY 2023 Percentage Ad Valorem $9,530,215 87.12% Communications Service Tax $323,005 2.95% Local Business Tax $90,713 0.83% Municipal Utility Tax $995,056 9.10% Total $10,938,989.00 100.00% 'Ad Valorem Revenue Data: Expenditures and Revenues Reported by Florida's Municipal Governments to the Florida Department of Financial Services as reported by the Office +,?'� FLORIDA ',� LEAGUE of Economic and Demographic Research. OF CITIES Page 401 of 430 Ag nda Item #5. V/.Y IU V� W1 V%;4 W U.2%.m.4 60M�Y .-VALnV AD VALOREM REVENUES COMPARED TO GENERAL FUND EXPENDITURES6 The graph compares ad valorem revenues to a number of general fund expenditures. Most or all ad valorem revenues are used to fund these general fund expenditures. $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $0 ■ ■ ■ ■ ■ 2019 2020 2021 2022 2023 Year ®Ad Val Revenue Law Enforcement Fire Control a Other Public Safety ■Parks and Recreation Road and Street Facilities EXPENDITURES Year Ad Val Law Fire Control Other Public Parks and Road and Revenue Enforcement Safety Recreation Street Facilities 2019 $6,800,483 $4,479,389 $3,898,268 $101,195 $651,748 $1,236,310 2020 $7,497,093 $3,908,385 $4,096,694 $82,277 $604,892 $1,314,415 2021 $7,848,744 $3,778,197 $4,553,184 $84,946 $670,569 $1,403,950 2022 $8,260,937 $3,981,541 $4,251,964 $108,682 $1,165,577 $1,398,622 2023 $9,530,215 $3,622,099 $5,598,484 $68,151 $1,530,876 $1,521,824 "Ad Valorem Revenue and General Expenditure Data: Expenditures and Revenues Reported by Florida's Municipal Governments to the Florida Department of Financial FLORIDA LEAGUE Services as reported by the Office of Economic and Demographic Research. a OF CITIES Page 402 of 430 Ag ngA1111WAL-quests Data Packet Contact JEREMY ALLEN JEFFERY SNYDER Village Manager Finance Director 561.768.0463 561.768.0424 jallen@tequesta.org jsnyder@tequesta.org FLORIDA LEAGUE OF CITIES Page 403 of 430 Agenda Item #5. 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LO N O N a) U C a) E E O >� O >� C .� > .� > O c C U 0 0 5 a z v O O N O NR;T O Q Q. N CO d' N cfl 0 C 0 0 M LL N M N M C C •- 0 •- O O U U � :3 co o 7 co 1 O O , O 24 = 0 2 c 0 2 M �O • • • • _ D00 co _ a E00 Q oc) O n O x X M x Ill LLI tq :3 :3 O a a LO > > 44 a> ao a> 00 a M a M 0 a O v O ri F-- ri CN LO N L'04 N �? N O M O M N ia N 169- • Page 428 of 430 Agenda Ln N O N N U N N C O U 75 c c Q U J LL e ♦ ♦♦ f ♦ ♦ f + f ♦ on if ♦♦ ii♦ f if wo ♦ Ad ♦ + 1 • • 1 V • J ° 1 LL , w Pag Agenda Item #5. U ,o U 4� J LL 0 w LLa C ��•, p N L .- O O = O a � U) N OP 0 O 05, LL N @j U) N N LL - Page 430!of430