South Miami to hold millage at 3.9500; TRIM notice says taxable increase under state formula

City of South Miami leaders told residents at a special budget hearing that the city is proposing to keep the millage rate unchanged at 3.9500 for the fiscal year beginning Oct. 1, 2024.

“Maintains the same 3.9500, which is the millage that we currently have in fiscal year 24,” the chief financial officer said while summarizing the tentative budget. The commission then opened the public hearing on the proposed millage and budget.

The city attorney announced that the proposed millage, as published in the TRIM notice property owners received, exceeds the state-calculated rollback rate of 3.6351 by 8.66%. “The proposed millage rate of 3.9500 … exceeds the rollback rate … by 8.66%, which statutorily is characterized as a property tax increase,” counsel said, adding that the announcement was being made for the official record as required by law.

Commissioners pressed for plain-language context after the announcement. Vice Mayor Buenish asked whether that meant the millage was higher than last year; counsel and the mayor explained it did not. The city’s taxable assessed values rose year to year, so the same millage would generate more revenue than last year; under the state rollback calculation, any proposed rate that yields more revenue than the prior year must be advertised as a tax increase, even if the commission has not changed the millage rate.

City staff noted the presentation included other fiscal context — an assessed-value increase of roughly 8.6% and about $570,000 in insurance-related savings that helped hold the millage steady while responding to cost pressures in the budget.