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Amended Agreement With Hernando County Property Appraiser Regarding Reimbursement of Administrative Costs Pertaining to Collection of Non-Ad Valorem Assessments
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BRIEF OVERVIEW
The Property Appraiser’s cost for collecting non-ad valorem assessments related to Community Development Districts (CDD) has been set at 2% with no adjustments since April 19, 2005. The 2% is the value of each non-ad valorem assessment roll for which the Property Appraiser has prepared, processed, or transmitted data concerning the non-ad valorem assessment, and is intended to reimburse the Property Appraiser for administrative costs to perform this work on behalf of the Board of County Commissioners. The Property Appraiser has requested that the reimbursement rate be increased to 3%. All other terms of the original agreement remain in effect and unchanged.
FINANCIAL IMPACT
The administrative cost has not increased since April 2005, while costs have continued to increase in both employee salary/benefits, hardware and software costs. Inflation since 2005, 61%.
An increase in the rate would result in additional funding to the Property Appraiser’s Office via the General Fund budget.
LEGAL NOTE
The Board has authority to act on this matter pursuant to Section 197.3632(2) and Chapter 125, Florida Statutes.
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RECOMMENDATION
It is recommended that the Board approve and authorize the Chairman’s signature on the attached Amended Agreement for and increase to 3%.