Among the policy items adopted during tonight’s Special Council meeting, were the maximum millage rate and the RTZ carve out.
During tonight’s Special Council meeting, the Village Council adopted a resolution setting the maximum millage rate for the upcoming fiscal year, which starts on October 1, 2022.
Each year, the Village Council is required to identify the maximum millage rate that the budget may be based upon. The millage rate refers to the tax rate that residents pay for every $1,000 of taxable property value. Taxable value differs from market value in that taxable value is limited to a max growth in value of 3% and is subject to certain exemptions as applicable, such as the Homestead exemption. Once the maximum rate has been set, it may not be increased at a later date beyond the limit.
Village Manager Nick Marano showed a brief presentation delineating the village’s tax position in comparison to other municipalities in Miami-Dade County. Compared to the other 35 incorporated cities countywide, Palmetto Bay has the 7th lowest millage rate. The current rate in Palmetto Bay is 2.4 mills, while the county average is 5.19 mills. Manager Marano recommended maintaining the current rate of 2.4 mills. “The macro economic system is uncertain…the proposed rate will insulate the village from an unexpected drop in property taxes.”, said Manager Marano.
For the average resident, the rate translates to approximately $869.34 in taxes paid to the Village of Palmetto Bay annually. The figure is based on the average taxable residential value in the Village of $362,225.
“Tonight, we’re just setting the maximum millage rate.”, said Mayor Cunningham. The maximum millage rate was set at the current level of 2.4 mills. A final budget workshop is scheduled for Monday, July 25, 2022. Two budget hearings will take place on September 12th and September 28th before the budget is approved.
In addition, the Village Council also considered an item that would formally request a carve-out of the Village of Palmetto Bay from the requirements of the county’s Rapid Transit Zone or RTZ.
The RTZ creates certain zoning requirements, standards and procedures for RTZ Urban Centers and areas 1/4 mile and 1/2 from smart corridors. Despite various amendments made to the ordinance since it was first introduced, several concerns remain for Palmetto Bay, including the fiscal impact on the elimination of impact fees, the required floor area ratios and the effect that the increased development on the west side of US 1 will have on the Village.
During the June Regular Council Meeting, the Village Council moved NOT to support the RTZ. Last week, Mayor Cunningham, Councilwoman Matson and Village resident Joe Bier spoke before the county’s Council of Policy against the RTZ. Tonight, the Village Council passed a resolution reiterating its opposition to the RTZ and requesting a carve-out for Palmetto Bay that would exempt the village from the requirements of the county ordinance. “We have taken a lot of time and care on what we feel is appropriate for transit-oriented development in our downtown area…We had over 20 meetings related to the zoning for the downtown area.”, said Mayor Cunningham while addressing the Council and residents during the presentation of her agenda item. The item passed without opposition.
To watch the Special Council Meeting in its entirety, click the button below.
