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05 08-09FY Revised Gross Table Values & Add Homestead 65 & over0 m n 0 Q � 3 cD x 0.. 0 -- - 0 0 CD (n F6- 3) (z m x (D 3 O (D 0 0 O) CJl n) Q 0 0 (D cD c 3) c 0 cn. j 5 cn 3 o c = co CD (D � o 0 o CD 0 CO 0 O K 0) CT7 Q. n) Z _ -• 0 0 0 0 =, O c 3 N 5. (0 r-r -C3 n) 0' (0 uoltow uo 910A (o O' 0 0 N m 0 0 o approve the first reading proposed Ordinance No. 1033. B. 1. c) City Attorney to read proposed Ordinance No. 1033 by title only. '03f1NIINO3 SS3NISf18 NON m v' a) W 0 X Q ES- CO FD, -. - -, - X (0 n, X -� =" - 0 O U') (D 0 -' 7 O n) 0 CD 0 a cn 0 ? =•0_ o 0 m 0 a) '< v 5 a-5,' N o N) `< C. CD < CD CD Co , - (D (D D• O (D ]. (n O CD o ?i 0 .-,- = < o o cF a)>< Q D o c c) -z n) E, o Cr 2 _• c c (D CO 0 CO CD 0 CD 0 0) - - CD C () v (n * o o o (D N cn Q u' w) cD 3: CD 0 -00 Fs- o) 2- * 0. = o o 0. Q _ c (0 0 = Cr (D 0 0 c = 0 0- CD CAD 0- (D 0 LB (D a). 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Q 4 •' C Q) Q) U Q >, - ) ` N C ' V c0 C -Q o C E a) 0 Q) ZS cs) U Q3 0 aU - .- s Q a0 >1 Q) 0 Q e_ a (D Q_ 0 o E a) 0 4- a) .� 4.1 a R a) 1= '- a Q3 U v i O Q) on -�/) 0) a) i0 acv') 0 03 0 o Q. N a) ;' VO C1, cB E 1 w U 02 <( LL T MEMORANDUM- 0 tee J6< O a • 91 To: Mayor Kirk, and Council-members Cc: Brian Whitehall, City Administrator From: India Riedel, Finance Dept. RE: Gross Taxable Values for Budget Year 2009 Date: November 3rd, 2008 Property Values provided during Budget Hearing and Final Public Hearing, $336,770,710. Amended Certified Final Taxable Value (Value Adjustment Board, VAB, still in session) was presented in October with a taxable value of $338,824,415. Using the 97% rule for budgetary purposes this would generate $13,433 additional Ad Valorum Tax for the FY 2009. Council Final Budget Hearing, 9/30/08: $336,770,710 Amended Cert. Final Taxable Value, 10/23/08: $338,824,415 Difference ($2,053,705) @ 97%: $ 1,992,093 Revenue change @ Millage rate of 6.7432: $ 139433 Since the October 23rd certification from the Okeechobee County Property Appraiser the Value Adjustment Board has met (10/28 & 10/29) there were no revisions to the Cities gross taxable values. The VAB board will meet again (tentatively scheduled for the month of January) and there are no additional petitions for properties within the city limits. r V J R. 09108 CERTIFICATION OF FINAL TAXABLE VALU We 12DER08-27 Florida Administrative Code _ Section 200.065(1). (6), F.S. Effective 09108 + DEPARTMENT OF REVENUE Year County: 2008 OKEECHOBEE Principal Authority Taxing Authority: C' of Okeechobee C' of Okeechobee Check TYPE of principal authority (check one) ❑ County ❑ Independent Special District ❑ School District 20 Municioality ❑ Water Management District Check applicable taxing authority (check one) 'M Principal Authority ❑ Dependent Special District ❑ MSTU ❑ Water Management District Basin SECTION I: COMPLETED BY PROPERTY APPRAISER $ 336,770,710 (1) 1 Current year gross taxable value (From Line 4, Form DR-420) $ 338,824,415 (2) 2. Final current year gross taxable value (From Form DR-403 Series) Percentage of change in taxable value (Une 2 0.609822927 % (3) 3" divided by Line 1, minus 1, multiplied by 100) The taxing authority must complete this form and return it to the property Appraiser by -earn/ 20 Property Appraiser Certification ~ 1 certify the taxable values shown above are correct to the best of my knowledge. W Date = Signature of Property Appraiser z a~ October 20,2008 SECTION II: COMPLETED BY TAXING AUTHORITY MILLAGE RATE ADOPTED BY RESOLUTION OR ORDINANCE AT FINAL BUDGET HEARING PRUSUANT TO S. 200.065(2)(D), F.S ff 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-. Voted Millage oNon_Vote Voted debt se rvice millage $ n/a per $1.000 (4a) Other voted millage pn excess of the millage cap and not more than two years) $ per $1,000 (4b) n a d Operating Millage Rate (from resolution or ordinance) 5a. County or municipal principal taxing authority $ 6 . 7432 per $1.000 (5a) 5b_ Dependent Special district Name $ n/a per $1,000 (5b) 5c. Municipal service taxing unit (MSTU) Name $ n/a per $1.000 (5c) 5d. Independent special district $ n/a per $1000 (5m Required local effort $ n/a per $1,000 (5e) 5e. School District Discretionary $ n/a per $1,000 Capital outlay $ n/a per $1.000 Additional $ n /a per $1,000 5f. Water management district District levy $ per $1,000 (50 Basin I' n/a per $1,000 CONTINUED ON PAGE 2 • • D 09108 ~ R. 09/OS Page 2 COMPLETE LINES 6 THROUGH 9 ONLY IF THE MILLAGE IS TO BE ADMINISTRATIVELY ADJUSTED. COUNTIES, MUNICIPALITIES, SCHOOLS and WATER MANAGEMENT DISTRICTS, MAY adjust the non-voted milla a rate ONLY if the percentage shown on Line 3 is reated than plus or minus 1% under s. 200.065 6 , F.S. 6 Unadjusted gross ad valorem proceeds $ (6) Line 1 multiplied b Line 5a, 5e, or 5f as applicable, divided b 1,000 Adjusted Millage rate (Only if Line 3 is greater than plus or minus 1%) $ (7) 7' (Line 6 divided by Line 2, multiplied by 1,000 MSTUs, dependent special districts, and independent special districts may adjust the non-voted millage rate ONLY if the percentage shown on Line 3 is greater than plus or minus 3% under s. 200.065(6), F.S. Unadjusted gross ad valorem proceeds $ (8) 8' (Line 1 multiplied by Line 5b, 5c, or 5d as applicable, divided by 1,000) Adjusted Millage rate (Only if Line 3 is greater than plus or minus 3%) $ (9) 9' (Line 8 divided by Line 2, multiplied by 1,000 Taxing Authority Certification I certify the millages and rates are correct to the best of my knowledge. The millages comply with the provisions of Section 200.185 and 200.071 or 200.081, F.S. SAdministrativ Officer Date 10/21/2008 W W Title Physical Address z C7 Brian Whitehall, City Administrator 55 SE 3rd Avenue, Okeechobee, FL 34974 Mailing Address Name of Contact Person 55 SE 3rd Avenue India Riedel City, State, Zip Phone # Fax # Okeechobee, FL 34974 863-763-3372 863-763-1686 CERTIFICATION OF FINAL TAXABLE VALUE INSTRUCTIONS 5. Send one copy to the Department of Revenue at the SECTION I: Property Apprasier's Instructions address below. Send it with your DR-487, Certification 1. Initiate a separate DR-422 form for each Form of Compliance, or separately if you have already sent the DR-420 and DR-420S submitted DR-487 2. Complete Section 1 and Sign Florida Department of Revenue Property Tax Oversight - TRIM 3. Send the original to the taxing authority and keep a copy. Post Office Box 3000 Tallahassee, Florida 32315-3000 SECTION II: Taxing Authority's Instructions All taxing Authorities must complete Line 4 and Line 5, millages adopted by resolution/ordinance at Final Budget 1. Complete Section II and sign. Hearing. 2. Return the orginal and one copy to the property Counties, Municipalities, Schools, and Water Management appraiser Districts may complete Line 6 and Line 7 only when Line 3 is greater than plus or minus 1%. (s. 200.065(6), F.S.) 3. Keep a copy for your records 4. Send a copy to the tax collector Multi-County and Water Management Districts must complete a separate Form DR-422 for each county. ALL FORMS FOR TAXING AUTHORITIES ARE AVAILABLE ON OUR WEBSITE AT http://dor.mvflorida.com/dor/propertv-/maxmillage.htmi Ag~a- MEMORANDUM Q To: Mayor Kirk, and Council-members Cc: Brian Whitehall, City Administrator From: India Riedel, Finance Dept. RE: Additional Homestead Exemption for persons 65+ Date: November 3rd, 2008 Florida Statute 196.075 within the Taxation and Finance chapter allows municipalities to adopt an additional homestead exemption for persons 65 and older who qualify for the F.S. 196.031 (existing homestead exemptions). The additional qualifier is the income of the household must not exceed $25,000. The taxable value of properties within the above criteria is $1,775,291. Upon implementation of an additional $25,000 to those who qualify, there would be a tax savings in the future to those city residents totaling $11,971, based on the current millage of 6.7432. Number of households positively effected- = 83 Savings for a household at its fullest impact = $169.00 With the added revenue generated by the increase in the provided Gross Taxable Property Values for Budget Year 2009 ($13,433) this would enable the council to provide the same services as budgeted for the year, at a lesser cost to its' senior citizens in the future.