Burgess: Property tax losses

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The Miami-Dade County propertt appraiser released its preliminary tax rollinformatio Monday, with all four taxing jurisdictions – fire library, the unincorporated area and Miami-Dadr overall – seeing a decline. The countywide decrease comparinvg preliminary tax numbers from year to year showes a 9percent decrease, or a total of $22.55 billion.” “Thesed losses would have been worse if not for new constructiojn that was added to the property tax roll as of Jan. County Manager George Burgesss said in a memo sent to county North Bay Village took the biggest hit, down 20.2 percent from 2008 levels. Homestead saw an 18.
2 percenty decline, followed by Normandy Shores, down 17.5 and Aventura which was down 17.3 percent. Goldejn Beach and the tiny city of Islandia sawno change. Medlety saw a 1.5 percent drop whild Biscayne Park saw a 4 percent Click for thefull list. Staffersd reviewed property tax rolls going back to 1985 and founc that 1993 saw taxable value shrinkiby 2.9 percent, or $1.9 billion. “Even in 2008, when we absorbedf the impact of doubling the homesteafd exemptionfrom $25,000 to $50,000, the property tax roll was relatively flat,” Burgess explained in the “These losses in property tax roll values are Burgess warned of a lot more pain on the using the last two years as a barometer of what is For the second consecutive year, Miami-Dadde faced a $200 million budget gap in the last fiscal Core services were kept intact by tighteningv belts, but assuming the same tax rate adopted for the estimated ad valorem revenuew for fiscal year 2009-10 would shrink by $174.
1 million, according to the Taking into account the impact of normal inflationary growt h and the economic slowdown, combined with the non ad valoremm revenue sources, results in property tax subsidized operations facing a budgetr gap of $350 millionh to $400 million, Burgess said. “We are working diligently to prepare a proposed budget forFY [fiscakl year] 2009-10 that to the extent preserves essential services and minimizes service impactsx to our residents,” he wrote in the “However, closing a budgetary gap of this size will requirwe some very difficult decisions.
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