HomeMy WebLinkAboutDocumentation_Regular_Tab 03_07/08/2010 VILLAGE OF TEQUESTA
AGENDA ITEM TRANSMITTAL FORM
1. VILLAGE COUNCIL MEETING:
Meeting Date: Meeting Type: Regular Ordinance #:
July 8, 2010
Consent Agenda: No Resolution N/A
Originating Department: Finance
2. AGENDA ITEM TITLE: (Wording form the SUBJECT line of your staff report)
Set proposed ad valorem millage rate for the 2010 -2011 Budget
Set date for the first Public Budget Hearing.
3. BUDGET / FINANCIAL IMPACT:
Account N/A Amount of this item N/A
Current Budgeted Amount Available: Amount Remaining after item:
N/A N/A
Budget Transfer Required: No Appropriate Fund Balance: Choose an item.
4. EXECUTIVE SUMMARY OF MAJOR ISSUES: (This is a snap shot description of the agenda item)
Set proposed ad valorem millage rate for the 2010 -2011 Budget.
Set date for the first Public Budget Hearing.
5. APPROVALS:
Dept. Head: JoAnn Forsythe Finance Director: JoAnn Forsythe _
Attorney: (for legal sufficiency) Yes ❑ No ❑
Village Manager:
SUBMIT FOR COUNCIL DISCUSSION:
APPROVE ITEM:
DENY ITEM: ❑
FINANCE DEPARTMENT
DATE: JUNE 25, 2010
TO: MICHAEL R. COUZZO, VILLAGE MANAGER
FROM: JOANN FORSYTHE, FINANCE DIRECTOR
RE: SET PROPOSED AD VALOREM MILLAGE RATE FOR F /Y /E 9/30/2011 AND
SET THE FIRST PUBLIC BUDGET HEARING DATE
Please add to the agenda July 8, 2010 Regular Meeting of the Village Council the following:
1. Set proposed ad valorem millage rate for the 2010 -2011 budget
2. Set the first public budget hearing date.
a. Board of County Commissioners has set their dates as September 14th and September 28.
2010.
b. School Board has set tentative dates as July 28th and September 7, 2010.
6/30/1010:58 AM
MAXIMUM MILLAGE LEVY CALCULATION DR- 420MM -P
PRELIMINARY DISCLOSURE R. 6/10
Rule 12D- 16.002
For municipal governments, counties, and special districts
r; zFV:fAi,. Florida Administrative Code
Year 2010 County Palm Beach
Principal Authority TEQUESTA Taxing Authority TEQUESTA
Is your taxing authority a municipality or independent special district that has levied ad
1 ' valorem taxes for less than 5 years? ❑ Yes ✓❑ No (
IF YES, (a STOP HERE. SIGN AND SUBMIT. You are not subject to a millage limitation.
2. Current year rolled -back rate from Current Year Form DR -420, Line 16 6.1949 per $1,000 (2)
3. Prior year maximum millage rate with a majority vote from 2009 Form DR- 420MM, Line 13 7.2187 per $1,000 (3)
4. Prior year operating millage rate from Current Year Form DR -420, Line 10 5.7671 per $1,000 (4)
!f Line 4 is equal to or greater than Line 3, skip to Line 11. If less, continue to Line S.
Adjust rolled -back rate based on prior year majority -vote maximum millage rate
5. Prior year final gross taxable value from Current Year Form DR -420, Line 7 $ 831,804,193 (5)
6.
Prior year maximum ad valorem proceeds with majority vote $ 6,004,545 (6)
(Line 3 multiplied by Line 5 divided by 1,000)
7 Amount, if any, paid or applied in prior year as a consequence of an obligation measured $ 0 (7)
by a dedicated increment value from Current Year Form DR -420 Line 12
8. Adjusted prior year ad valorem proceeds with majority vote (Line 6 minus Line 7) $ 6,004,545 (8)
9. Adjusted current year taxable value from Current Year form DR -420 Line 15 $ 774,368,282 (9)
10. Adjusted current year rolled -back rate (Line 8divided by Line 9, multiplied by 1,000) 7.7541 per $1,000 (10)
Calculate maximum millage levy
11. Rolled -back rate to be used for maximum millage levy calculation 7.7541 per $1,000 (11)
(Enter Line 10 if adjusted or else enter Line 2)
12. Change in per capita Florida personal income (See Line 12 Instructions) .9811 (12)
13. Majority vote maximum millage rate allowed (Line 11 multiplied by Line 12) 7.6075 per $1,000 (13)
14. Two - thirds vote maximum millage rate allowed (Multiply Line 13 by 1.10) 8.3682 per $1,000 (14)
15. Current year proposed millage rate 5.7671 per $1,000 (15)
16. Minimum vote required to levy proposed millage: (Check one) (16)
a. Majority vote of the governing body: Check here, if Line 15 is less than or equal to Line 13. The maximum millage rate is
equal to the majority vote maximum rate. Enter Line 13 on Line 17.
b. Two - thirds vote of governing body: Check here if Line 15 is less than or equal to Line 14, but greater than Line 13. The
F1
maximum millage rate is equal to proposed rate. Enter Line 15 on Line 17.
❑ c. Unanimous vote of the governing body, or 3/4 vote if nine members or more: Check here if Line 15 is greater than Line 14.
The maximum millage rate is equal to the proposed rate. Enter Line 15 on Line 17.
F] d. Referendum: The maximum millage rate is equal to the proposed rate. Enter tine 15 on Line 17.
17. The selection on Line 16 allows a maximum millage rate of 7.6075 per $1,000 (17)
(Enter rate indicated by choice on Line 16)
18. Current year gross taxable value from Current Year Form DR -420, Line 4 $ 782,619,943 (18)
Continued on page 2
DR- 420MM -P
R. 6/10
Page 2
19. Current year proposed taxes (Line 15 multiplied by Line 18, divided by 1,000) $ 4,513,447 (19)
20 Total taxes levied at the maximum millage rate (Line 17 multiplied by Line 18, divided by $ 5,953,781 (20)
1,000;
DEPENDENT SPECIAL DISTRICTS AND MSTUs STOP HERE. SIGN AND SUBMIT.
21 Enter the current year proposed taxes of all dependent special districts & MSTUs levying a $ 0 (21)
millage (The sum ofall Lines 19 from each district's Form DR-420 MM -P)
22. Total current year proposed taxes (Line 19 plus Line 21) $ 4,513,447 (22)
Total Maximum Taxes
23 Enter the taxes at the maximum millage of all dependent special districts & MSTUs levying $ 0 (23)
a millage (The sum of all Lines 20 from each district's Form DR-420 MM -P)
24. Total taxes at maximum millage rate (Line 20 plus line 23) $ 5,953,781 (24)
Total Maximum Versus Total Taxes Levied
25 Are total current year proposed taxes on Line 22 equal to or less than total taxes at the a Yes ❑ No (25)
maximum millage rate on Line 24? (Check one)
I certify the millages and rates are correct to the best of my knowledge. The millages comply
Taxing Authority Certification with the provisions of s. 200.065 and the provisions of either s. 200.071 or S. 200.081, F.S.
Signature of Chief Administrative Officer Date
W
is Title Contact Name
W
2 Village Manager JoAnn Forsythe, Finance Director
z Mailing Address Physical Address
l7
345 Tequesta Drive 245 Tequesta Drive
City, State, Zip Phone Number Fax Number
Tequesta, FL 33469 -0273 561 -575 -6270 561 - 575 -6232
Complete and submit this Form DR- 420MM -P, Maximum Millage Levy Calculation -
Preliminary Disclosure, to your property appraiser with the Form DR -420,
Certification of Taxable Value.
Instructions on page 3
DR-420
CERTIFICATION OF TAXABLE VALUE R. 6/10
Rule 1213- 16.002
Florida Administrative Code
Year 2010 County PALM BEACH
Principal Authority Tequesta Taxing Authority Tequesta
SECTION I: COMPLETED BY PROPERTY APPRAISER
1. Current year taxable value of real property for operating purposes $ 762,615,108 (1)
2. Current year taxable value of personal property for operating purposes $ 19,533,155 (2)
3. Current year taxable value of centrally assessed property for operating purposes $ 471,680 (
4. Current year gross taxable value for operating purposes ( Line 1 plus Line 2 plus Line 3) $ 782,619,943 (4)
5. Current year net new taxable value (Add new construction, additions, rehabilitative
improvements increasing assessed value by at least 100 %, annexations, and tangible $ 8,251,661 (5)
personal property value over 115% of the previous year's value. Subtract deletions.)
6. Current year adjusted taxable value (Line 4 minus Line 5) $ 774,368,282 (6)
7. Prior year FINAL gross taxable value from prior year applicable Form DR -403 series $ 831,804,193 (
Does the taxing authority include tax increment financing areas? If yes, enter number of Number
8 ' worksheets (DR- 420TIF) attached. if none, enter 0. Yes No X❑ 0 ( 8 )
9 Does the taxing authority levy a voted debt service millage or a millage voted for 2 years or Number
less under s. 9(b), Article VII, State Constitution? (If yes, enter the number of forms Yes ❑ No EX 0 (9)
DR- 420DEBT, Certification of Voted Debt Millage for each debt service levy.)
Property Appraiser Certification I certify the taxable values shown above are correct to the best of my knowledge.
w w Date
Signature of Property Appraiser
Z � 06/29/2010
SECTION II: COMPLETED BY TAXING AUTHORITY
If this portion of the form is not completed in FULL your authority will be denied TRIM certification and
possibly lose its millage levy privilege for the tax year. If any line is inapplicable, enter N/A or -0 -.
10. Prior year operating millage levy (if prior year millage was adjusted then use adjusted r
millage from Form DR -422.) $ (6 o �1 per $1,000 (10)
11. Prior year ad valorem proceeds (Line 7 multiplied by Line 10 divided by 1,000) $ q, 7q ?j 0(7`8 (11)
12 Amount, if any, paid or applied in prior year as a consequence of an obligation measured by a $ 1 (12)
dedicated increment value (Sum of either line Line 6c or Line 7a for all DR- 420TIF forms) 0
13. Adjusted prior year ad valorem proceeds (Line 11 minus Line 12) $ q, - 799, 0 9 8 (13)
14. Dedicated increment value, if any (Sum of either Line 6b or Line 7e for all DR- 420TIF forms) $ 0 (14)
15. Adjusted current year taxable value (Line 6 minus Line 14) $ 9,7 q 8 - J- (15)
16. Current year rolled -back rate (Line 13 divided by Line 15, multiplied by 1,000) $ Y 1.7y 9 per $1,000 (16)
17. Current year proposed operating millage rate $ ? per $1,000 (17)
v
18. Total taxes to be levied at proposed millage rate (Line 17 multiplied by Line 4, divided by 1,000) $ (- l 3 q7 9 (18)
Continued on Page 2
DR -420
R. 6/10
Page 2
19. TYPE of principal authority (check one) ❑ County ❑ Independent Special District (19)
✓❑ Municipality ❑ Water Management District
20. Applicable taxing authority (check one) 0 Principal Authority ❑ Dependent Special District
(20)
❑ MSTU ❑ Water Management District Basin
21. Is millage levied in more than one county? (check one) ❑ Yes ✓❑ No (21)
DEPENDENT SPECIAL DISTRICTS AND MSTUs , STOP HERE SIGN AN SUBMtT
Enter the total adjusted prior year ad valorem proceeds of the principal authority, all
22. dependent special districts, and MSTUs levying a millage. (The sum ofLine 13 from all $ 4,797,098 (22)
DR-420 forms)
23• Current year aggregate rolled -back rate (Line 22 divided by Line 15, multiplied by 1,000) 6.1949 per $1,000 (23)
24. Current year aggregate rol led -back taxes (Line 4 multiplied by Line 23, divided by 1,000) $ 4,848,252 (24)
25 Enter total of all operating ad valorem taxes proposed to be levied by the principal taxing $ 4,513,447 (25)
authority, all dependent districts, and MSTUs, if any. (Total ofLine 18 from all DR-420 forms)
26 Current year proposed aggregate millage rate (Line25divided by Line 4, multiplied 5.7671 per $1,000 (26)
by 1,000)
27 Current year proposed rate as a percent change of rolled -back rate (Line 26 divided byline -6.91% (27) .,
23, minus 1, multiplied by 100)
First public Date Time Place
budget hearing
I certify the millages and rates are correct to the best of my knowledge. The
Taxing Authority Certification millages comply with the provisions of s. 200.065 and the provisions of either
s. 200.071 or s. 200.081, F.S.
Signature of Chief Administrative Officer Date
W
X
W
= Title Contact Name
Z Village Manager JoAnn Forsythe, Finance Director
N Mailing Address Physical Address
345 Tequesta Drive 345 Tequesta Drive
City, State, Zip Phone Number Fax Number
Tequesta, Florida 33469 -0273 (561) 575 -6270 (561) 575 -6232
Instructions on page 3