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Agenda 07/27/2010 Item #10CAgenda Item No. 10C July 27, 2010 Page 1 of 7 EXECUTIVE SUMMARY Recommendation to adopt a resolution establishing Proposed Millage Rates as the Maximum Property Tax Rates to be levied in FY 2010111 and Reaffirm the Advertised Public Hearing dates in September, 2010 for the Budget approval process. OBJECTIVE: To adopt a resolution which establishes proposed millage rates as the maximum property tax rates to be levied in FY 2010/11 and reaffirms the Advertised Public Hearing dates for the adoption of the FY 2010/11 Amended Tentative Budgets (September 9, 20 10) and the FY 2010/11 Final Millage Rates and Final Adopted Collier County Budget (September 23, 2010). CONSIDERATIONS: The tax rates hereby adopted must be provided to the Collier County Property Appraiser by August 4, 2010, for use in preparing the statutorily required Notice of Proposed Taxes (TRIM Notice). Each Collier County property owner will receive this notice, which must be mailed by August 24, 2010, under the Florida Truth in Millage (TRIM) law. During the September, 2010, advertised public hearings the Board may maintain or lower millage rates in each taxing district unit at or below the level of the proposed millage rates. The millage rates may not be raised subsequent to the adoption of this resolution, without meeting additional public notice and advertising requirements. The proposed millage rates and associated tax dollars are included as exhibits entitled "FY 2011 Proposed Maximum Property Tax Rates ", and Property Tax Dollars based upon July 1, 2010 Taxable Values ". A chart of taxable values is also included by taxing district and reflects data provided by the Property Appraiser on July 1, 2010. The General Fund (001) maximum proposed millage rate is 3.5645 per $1,000 of taxable value (or $356.45 per $100,000 of taxable value) and is below the statutory rolled back rate of $4.0900 per $1,000 of taxable value. This is a millage neutral rate from FY 2010 and represents a 12.85% decrease from the rolled back rate. • The Unincorporated Area General Fund (111) maximum proposed millage rate is .7161 per $1,000 of taxable value (or $71.61 per $100,000 of taxable value) and is below the statutory rolled back rate of $.8402 per $1,000 of taxable value. This is a millage neutral rate from FY 2010 and represents a 14.77% decrease from the rolled back rate. Public hearings on the FY 2010/11 Collier County budget will be held on Thursday, September 9, 2010 and Thursday, September 23, 2010 at 5:05 in the third floor board room in the W. Harmon Turner building at the County Government Center Complex. Agenda Item No. 10% July 27, 2010 Page 2 of 7 During the budget workshop meetings, staff noted no Board changes to the budget. However, with receipt of new taxable value numbers from the Property Appraiser, budgets for all funds which receive ad valorem property tax revenue are customarily adjusted and these changes are reflected in the tentative budget submitted to the Board on July 15, 2010. Other noteworthy changes to the tentative budget submitted on July 15, 2010 are listed below and reflect previous actions of the Board. These include; Changes to the impact fee trust funds and other funds which were impacted by refinancing of the twelve commercial paper loans previously authorized by the Board. On July 13, 2010 electronic bids were received and the lowest true interest cost totaled 4.269 %. This is considered an excellent interest rate on the refinancing — reflective of Collier County's investment grade credit. Additional savings above that originally budgeted were shifted to reserves within the applicable impact fee trust funds. This strategy will be important as the FY 2012 budget is developed especially in light of continued economic market uncertainty. 2. Previous Board action connected with the new State of Florida Intersection Safety program led to the addition of $700,000 in budgeted appropriation to pay vendor expenses during FY 2011. Actual expenses will be offset by fine revenue. GROWTH MANAGEMENT IMPACT: There is no Growth Management Impact associated with this Executive Summary. LEGAL CONSIDERATIONS: This item is legally sufficient for Board action. -JAK FISCAL IMPACT: The proposed General Fund (001) millage rate of 3.5645 is budgeted to generate $220,436,100 in ad valorem tax revenue for FY 2011. The proposed Unincorporated Area General Fund (111) millage rate of .7161 is budgeted to generate $27,528,600 in ad valorem tax revenue for FY 2011. The proposed tax levy, inclusive of all special taxing districts, is budgeted to generate $273,194,200 in ad valorem tax revenue for FY 2011. RECOMMENDATIONS: That the Board of County Commissioners: Adopt by resolution: 1. The proposed property tax rates for FY 2011 as detailed in the attachments to the resolution; and 2. Reaffirm the Advertised Public Hearing dates for the adoption of the FY 2011 Amended Tentative Budgets (September 9, 2010) and the FY 2011 Final Millage Rates and Final Collier County Adopted Budget (September 23, 2010). PREPARED BY: Mark Isackson, Corporate Financial Planning and Management Services, County Manager's Office Agenda Item No. 10C July 27, 2010 Page 3 of 7 COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS Item Number: 10C Item Summary: Recommendation to adopt a resolution establishing Proposed Millage Rates as the Maximum Property Tax Rates to be levied in FY 2010111 and Reaffirm the Advertised Public Hearing dates in September, 2010 for the Budget approval process. (Mark lsackson,. Corporate Financial Planning and Management Services Director) Meeting Date: 7/27/2010 9:00.00 AM Prepared By Mark Isackson Management /Budget Analyst, Senior Date Office of Management & Office of Management & Budget Budget Approved By OMB Coordinator Date County Manager's Office Office of Management & Budget 7(1912010 1:38 PM Approved By Leo E. Ochs, Jr. County Manager Date County Managers Office County Managers Office 7/19/2010 3:07 PM Approved By Susan Usher ManagementBudget Analyst, Senior Date Office of Management & Office of Management &Budget 7111912010 3:49 PM Budget Approved By Jeff Klatzkow County Attorney Date 7,'2012010 11:33 AM RESOLUTION NO. 10- Agenaa Item No. 10C ,Idly 27. 2010 Page 4 of 7 A RESOLUTION APPROVING THE COUNTY'S PROPOSED MILLAGE RATES AND REAFFIRMING THE PUBLIC HEARING DATES FOR ADOPTION OF THE FY 2010/11 AMENDED TENTATIVE BUDGETS AND FY 2010 /11 FINAL MILLAGE RATES AND BUDGETS. WHEREAS, Section 200.65, Florida Statutes, provides the procedure for fixing the millage rates; and WHEREAS, Section 129.03, Florida Statutes, sets forth the procedure for preparation and adoption of the budget; and WHEREAS, the Board of County Commissioners has received and examined the tentative budgets for each of the County's funds including all estimated receipts, taxes to be levied and balances expected to be brought forward and all estimated expenditures, reserves and balances to be carried over at the end of the year; and WHEREAS, Section 200.065, Florida Statutes, provides that the Board of County Commissioners shall hold public hearings to adopt the tentative budgets. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF COLLIER COUNTY, FLORIDA, that: 1. The proposed millage rates set forth in Exhibit "A" and incorporated herein are hereby approved as the County's proposed millage rates pursuant to Sections 129.03 and 200.065, Florida Statutes. 2. The public hearings to adopt the FY 2010/11 amended tentative budgets and the FY 2010 /11 final millage rates ane budgets, respectively, pursuant to Section 200.065, Florida Statutes, will be held by the Board of County Commissioners on September 9, 2010 at 5:05 p.m. at the Collier County Government Center, W. Harmon Turner Building, Third Floor Board Room, 3301 Tamfami Trail East, Naples, Florida and on September 23, 2010 at 5:05 p.m. at the Collier County Government Center, W. Harmon Turner Building, Third Floor Board Room, 3301 Tantiami Trail East, Naples, Florida. BE IT FURTHER RESOLVED that the Clerk is hereby ordered and directed to spread this Resolution in full among the minutes of this meeting for permanent record in his office. This Resolution adopted this 276' day of July, 2010, after motion, second and majority vote. ATTEST: DWIGHT E. BROCK, Clerk By DEPUTY CLERK Jeffrey to Join and legal sufficiency: Attorney BOARD OF COUNTY COMMISSIONERS COLLIER COUNTY. FLORIDA By: FRED W. COYLE, CHAIRMAN Aaenda Item No 10C July 27, 2010 Page 5 of 7 Exhibit A Collier County Florida FY 2011 Promised Maximum Propert jax Rates -- Jul I 1 Taxable Values Fund Title General Fund Water Pollution Control Fund No. 001 114 Prior Year Millage Rate 3.5645 0.0293 Rolled Back Millage Rate 4.0900 0.0337 Proposed Millage Rate 3.5645 0.0293 % Change Frm. Roiled Back - 12.85% -13.06% 3.5938 4.1237 1 3.5938 - 12.85% 111 - - -- Unincorporated Area General Fund 0.7161 0.8402 0.2354 0.7161- 0.1990 14.77% - 15.46% Golden Gate Community Center 130 134 139 0_1791 Victoria Park Drainage Naples Park Drainage - _ 0,0653 0.0090 0.4716 1.8990 4.0000 0.0736 0.0112 0.5297 2.3827 5.0348 3.1157 _1.4645 0.0500 0.0090 - 32.07% - 19.64% -5.61% - - 0.5000 Vanderbilt Beach MSTU 143 - - - --- Isle of Capri Fire - -- -- - - - - -- - - Ocho ee Fire Control Collier County Fire Goland Fire MSTU 144 146 148 149 - 151 - 2.0000 - - 4.0000 2.0000 16.06% - - 20.55% 2.0000 - 35.81% 1.2760 1.2760 - 12.87% - --- - - Sabal Palm Road MSTU -- -- --- Parkway Bea Golden Gate utification -- - ---- 0.8918 3.2028 0.1000 96.88% 0.5000 0.7221 0.5000 - 30_76 °k _753 152 154 - 158 - 2.0000 - - 0.1209 - 0 2521 2_2937 0.1276 0.2949 1_3974 0.9166 2.1577 2.0000 0.0500 - 0.2949 _ - 12.80% 60.82% 0.00% Lely Golf Estates Beautification - - Hawksridge Stormwater Pumping MSTU ---- - Radio Road Beautification _ _ Forest Lakes Roadway & Drainage MSTU Immokalee Beautification MSTU 159 162 163 _ 164 165 166 - 1.1563 0.2606 - 81.35% 1.0000 1.7892 _- _0.9166 2.1577 - 0.00% - 0.00% Bayshore Avalon Beautification - - -- Held Creek Dredging - - Rock Road - Radio Road East MSTU 0.5000 2.6243 0.0000 - ()'65- 64 3.6355 0.0000 0_6564 0.000% 3.0000 - 17.48% -NIA 0.4400 - -- Conservation Collier 172 259 0.1206 - 2.8437 - -- 0.074 6 0.0548. 0.1108 0.0531 0.1387 -- 3.4367 - 0.0858 0.0630 0.1356 0.0555 0.1008 - 27.33 °h - -- -- Forest Lakes Debt Service 3.7394 8_811% -0.58% -- on Odl -- - Conservation Collier Debt Service (2005) _ -- --- Conservation Collier Debt Service (2008) -_ - -- . - CollrCountyLighting ie Pelican Bay MSTBU 272 273 ..0.0853 0.0639 0.1356 0.0531 _1.43% 0.00% d.32% 760 778 LAggregate Millage Rate 4.2870 1 4.9264 4.2596 1 - 13.54% �emda l',err No OC -[Av 27. 2010 Pane 6 of 7 Exhibit A Collier County, Florida Property Tax Dollars Based upon July 1, 2010 Taxable Values FY 2011 Proposed Prior Year Current Year Proposed Fund Adjusted Tax Rolled Back Tax % Change Fund Title No. Dollars Tax Dollars Dollars Frm. Rolled Back General Fund 001 245,238,656 252,934,188 220,436,164 - 12.85% Water Pollution Control 114 2,050,319 2,084,079 1,811,974 - 13.06% 247,288,975 255,018,267 222,248,138 -12.85% Unincorporated Area General Fund 111 31,322,337 32,299,323 27,528,618 - 14.77% Golden Gate Community Center 130 361,424 380,109 321,333 - 15.46% Victoria Park Drainage 134 1,834 1,834 1,246 - 32.06% Naples Park Drainage 139 10,185 10,278 8,259 - 19.64% Vanderbilt Beach MSTU 143 975,499 1,063,519 1,003,888 - 5.61% Isle of Capri Fire 144 1,336,317 1,337,395 1,122,588 - 16.06% Ochopee Fire Control 146 1,682,964 1,694,684 1,346,376 - 20.55% Collier County Fire 148 528,228 528,922 339,521 - 35.81% Goodland /Horn's Island Fire MSTU 149 111,367 111,313 96,985 - 12.87% Sabal Palm Road MSTU 151 43,345 43,636 1,362 - 96.88% Lely Golf Estates Beautification 152 239,834 240,094 209,351 - 12.80% Golden Gate Parkway Beautification 153 398,653 401,558 278,049 - 30.76% Hawksridge Stormwater Pumping MSTU 154 7,358 7,357 2,883 - 60.81% Radio Road Beautification 158 306,134 307,745 307,745 0.00% Forest Lakes Roadway & Drainage MSTU 159 203,965 204,113 38,065 - 81.35% Immokalee Beautification MSTU 162 312,373 364,015 364,015 0.00% Bayshore Avalon Beautification 163 877,997 883,899 883,899 0.00% Haldeman Creek Dredging 164 51,484 51,486 51,466 0.00% Rock Road 165 37,344 37,674 31,089 - 17.48% Radio Road East MSTU 166 0 0 153,263 NIA Conservation Collier 172 8,439,196 8,577,499 6,233,684 - 27.33% Forest Lakes Debt Service 259 501,614 501,985 546,199 8.81% Conservation Collier Debt Service (2005) 272 5,220,265 5,306,052 5,275,131 - 0.58% Conservation Collier Debt Service (2008) 273 3,834,726 3,896,052 3,951,710 1.43% Collier County Lighting 760 567,488 576,644 576,544 0.00% Pelican Bay MSTBU 778 285,317 285,579 273,230 -4.32% Total Taxes Levied 1 304,946,223 314,130,932 273,194,657 Aggregate Taxes 1 295,389,618 304,426,843 263,421,617 Agenda Item No. 40C July 27, 2010 Page 7 of 7 Collier County, Florida Taxable Property Values (July 1, 2010) For FY 2011 Year Current Year Current Year Fund ss Adjusted Gross Fund Title No. Value Taxable Value Taxable Value Change County Wide Taxable Values 001 ,749,096 60,845,240,553 61,842,099,698 - 11.62% General Fund 114 60,845,240,553 61,842,099,698 - 11.62% Water Pollution Control ,749,096 Dependent Districts and MSTU's 111 37,690,807,626 7o� 38,442,421,826 - 13.25% Unincorporated Area General Fund 130 ,951,279 1,535,539,.567 1,614,738,656 - 19.98° Golden Gate Community Center 134 ,001,134 24,908,514 24,917,726 - 11.28% Victoria Park Drainage 139 ,084,789 ,672,107 910,928,877 917,641,829 - 18.91% Naples Park Drainage 143 1,841,659,662 2,007,775,559 - 2.94% Vanderbilt Beach MSTU 144 ,487,415 ,695,113 560,832,067 561,294,064 - 20.24% Isle of Capri Fire 146 334,266,310 336,594,027 - 20.00% Ochopee Fire Control 148 ,740,913 264,113,999 169,537,226 169,760,317 - 35.72% Collier County Fire Island Fire MSTU 149 87,278,588 76,044,446 76,007,445 - 12.91% Goodland/Horr's Sabal Palm Road MSTU 151 48,604,428 13,533,730 104,560,566 13,624,253 104,675,491 - 71.97% -12.71% Lely Golf Estates Beautification 152 153 119,917,030 797,305,507 552,049,679 556,097,624 - 30.25% Golden Gate Parkway Beautification Hawksridge Stormwater Pumping MSTU 154 60,857,613 57,641,913 57,658,797 -5.26% Radio Road Beautification 158 1,214,337,046 1,037,964,128 1,043,556,076 146,066,013 - 14.06% - 17.19% Forest Lakes Roadway & Drainage MSTU 159 176,394,909 145,959,956 397,136,116 27.14% Immokalee Beautification MSTU 162 312,372,928 490,720,489 340,804,999 406,908,217 409,648,806 - 16.52% Bayshore Avalon Beautification 163 164 102,968,754 78,432,985 78,436,768 - 23.82% Haldeman Creek Dredging 165 14,230,196 10,272,063 10,362,946 - 27.18% Rock Road 166 0 341,988,349 348,324,543 N/A Radio Road East MSTU 172 69,976,749,096 60,845.240,553 61,842,099,698 - 11.62% Conservation Collier 259 176,394,909 145,959,956 146,066,013 - 17.19% Forest Lakes Debt Service Collier Debt Service (2005) 272 69,976,749,096 60,845,240,553 61,842,099,698 - 11.62% Conservation Conservation Collier Debt Service (2008) 273 69,976,749,096 60,845,240,553 61,842,099,698 - 11.62% 16.99% Collier County Lighting 760 5,121,728,442 4,184,133,922 5,137,345,298 4,251,797,568 5,145,569,473 - - 4.24% Pelican BayMSTBU 778 5,373,199,299