Title
MOTION TO ADOPT PROPOSED ORDINANCE NO. 2025-12 ON SECOND AND FINAL READING.
PROPOSED ORDINANCE NO. 2025-12 IS AN ORDINANCE OF THE CITY COMMISSION OF THE CITY OF PEMBROKE PINES, FLORIDA, ESTABLISHING THE OPERATING MILLAGE RATE OF 5.6690 OR $5.6690 PER THOUSAND DOLLARS OF TAXABLE ASSESSED PROPERTY VALUE, WHICH IS 6.34% ABOVE THE ROLLED-BACK RATE OF 5.3312, FOR THE CITY OF PEMBROKE PINES, FLORIDA, PURSUANT TO THE 2025-2026 CITY BUDGET, IN ACCORDANCE WITH CHAPTER 200, FLORIDA STATUTES; AND ESTABLISHING THE DEBT SERVICE MILLAGE RATE OF 0.2862 FOR DEBT SERVICE ON THE GENERAL OBLIGATION BONDS APPROVED BY THE ELECTORATE; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; PROVIDING FOR AN EFFECTIVE DATE.
Summary Explanation and Background
SUMMARY EXPLANATION AND BACKGROUND:
1. The millage rate for fiscal year 2025-26 is required to be adopted by Ordinance.
2. The proposed operating millage rate for 2025-26 is 5.6690, which is same as the Adopted Millage Rate for fiscal year 2024-25. It will generate approximately $107.8 million in ad valorem taxes.
3. The proposed operating millage rate of 5.6690 is 6.34% above the rolled-back millage rate of 5.3312. Four (4) affirmative votes are required to adopt this rate of 5.6690.
4. The proposed debt service millage rate is 0.2862 which is 0.0346 mills below the 2024-25 adopted rate. The revenues will be used to pay principal, interest, and other fees related to the General Obligation Bonds.
|
|
Adopted |
Proposed |
|
|
|
2024-25 |
2025-26 |
Change |
|
Operating Millage |
5.6690 |
5.6690 |
- |
|
Debt Service Millage |
0.3208 |
0.2862 |
(0.0346) |
|
Aggregate Millage |
5.9898 |
5.9552 |
(0.0346) |
5. The proposed aggregate millage rate including the debt service millage rate of 0.2862 is 5.9552, which is 0.0346 below the current year. The impact on the median residential property is $66.21 due solely to the median residential taxable value increasing by $12,878, moving from $202,450 to $215,328. The City has consistently decreased the aggregate millage rate during the last nine years, from 2016-17 to 2024-25.
6. Recommend adopting Proposed Ordinance 2025-12 on second and final reading.
Financial Impact
FINANCIAL IMPACT DETAIL:
a) Initial Cost: Not Applicable
b) Amount budgeted for this item in Account No:
$107,774,228 #001-000-0000-311001-0000-000-0000- General Fund - Current Ad Valorem Taxes
$5,440,993 #201-000-0900-311001-0000-000-0000- Debt Service - Current Ad Valorem Taxes
c) Source of funding for difference, if not fully budgeted: Not Applicable
d) 5 year projection of the operational cost of the project: Not Applicable
e) Detail of additional staff requirements: Not Applicable
FEASIBILITY REVIEW:
A feasibility review is required for the award, renewal and/or expiration of all function sourcing contracts. This analysis is to determine the financial effectiveness of function sourcing services.
a) Was a Feasibility Review/Cost Analysis of Out-Sourcing vs. In-House Labor Conducted for this service? Not Applicable
b) If Yes, what is the total cost or total savings of utilizing Out-Sourcing vs. In-House Labor for this service? Not Applicable
BUSINESS IMPACT ESTIMATE:
Pursuant to Section 166.041, F.S., a Business Impact Estimate (BIE) must be prepared for certain ordinances that impact the operations of local businesses.
a) Is a Business Impact Estimate (BIE) Form attached to this Ordinance? Yes
b) Is this Ordinance exempt from requiring an Business Impact Estimate (BIE)? Yes