CITY OF HALLANDALE BEACH, FLORIDA

MEMORANDUM

DATE: July 20, 2007

TO:                  D. Mike Good, City Manager

FROM:            Patricia Ladolcetta, Director of Finance

SUBJECT:     Consideration of Setting a Tentative Millage Rate for the Three Islands Safe Neighborhood District for Fiscal Year 2007-08 and Authorizing the City Manager to Sign the Certificate of Taxable Value and Advise Appropriate Agencies of the Tentative Millage Rate

______________________________________________________________________

BACKGROUND

The Three Islands Safe Neighborhood District will levy a millage as a dependent special district of the City of Hallandale Beach and must adhere to all of the requirements of the TRIM Legislation.

The TRIM Bill legislation requires dependent special districts to submit the Certification of Taxable Value (Form DR-420) to the County Appraiser by August 4, 2007.  This form indicates the proposed millage and the date, time and location for the first public hearing for the District.

DISCUSSION

House Bill 1B, signed into law on June 21, 2007 requires cities and dependent special districts to reduce the amount of roll-back rate by a graduated scale of percentages which are based upon the Compound Annual Growth Rate in Per Capita Taxes levied between 2001 and 2006. According to the numbers provided by the Department of Revenue the City of Hallandale Beach and it’s dependent special districts are required to levy a maximum millage rate of 91% of the roll-back rate or, in other words, roll-back less 9%.

The Broward County Property Appraiser’s Office has submitted their July 1^st 2007 Certified Taxable Value. The rolled-back millage will be .7579, when extended upon the current year's adjusted taxable value of $731,855,590 [Gross taxable value ($731,959,320) minus new taxable value ($103,730)]. The District’s gross taxable value had an increase of $38,615,670 (or 5.6%) from $693,343,650 in 2006, to $731,959,320 in 2007.

The millage rate staff proposes to provide to the County is .6897, which is 9% below the rolled-back rate of .7579. 

The date of the first public hearing by law has to be set between September 3 and September 18.  Furthermore, it cannot conflict with either the County or the School Board's hearings.  The County has set its first public hearing for September 11, and its second for September 25.  The School Board has scheduled their hearing for September 6.   Please, also note that the District's public hearing must be held after 5:00 p.m.

The second public hearing to adopt the final millage rate must be held two to five days after advertising the hearing and no later than October 1.  In addition, the advertisement must be within fifteen days from the first public hearing date.

RECOMMENDATION

The Board of Directors:

1.  Authorize the City Manager to sign and advise the appropriate agencies of the Board of Directors' approved proposed millage rate of .6897 and the date, time and location for the two public hearings; and,

2.  Authorize the First Public Hearing on Wednesday, September 12, 2007 at 5:20 p.m. and the Second Public Hearing on Wednesday, September 26, 2007 at 5:15 p.m.

Prepared By:

____________________________________________

Robert Fraidenburg, Assistant Director/Budget Manager

Reviewed:

_____________________________         ____________________

D. Mike Good, City Manager                  Date

____ Approved   ____ Denied    ____ Hold for Discussion

Comments: ____________________________________________________________

______________________________________________________________________

______________________________________________________________________

PML/rf