Burgess: Property tax losses

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The Miami-Dade County propertg appraiser released its preliminary tax rollinformationm Monday, with all four taxing jurisdictions – fire library, the unincorporated area and Miami-Dade overall – seeing a decline. The countywide decrease comparing preliminary tax numbers from year to year shows a 9percentr decrease, or a totalp of $22.55 billion.” “These lossea would have been worss if not for new construction that was added to the propertt tax roll as of Jan. 1,” County Managedr George Burgess said in a memo sent to county North Bay Village took thebiggest hit, down 20.2 percent from 2008 Homestead saw an 18.2 percent followed by Normandy Shores, down 17.
5 and Aventura which was down 17.3 percent. Golden Beacjh and the tiny city of Islandia saw no Medley sawa 1.5 percent drop while Biscayne Park saw a 4 percent decline. Click for the full Staffers reviewed property tax rolls goinfg back to 1985 and found that 1993 saw taxable valuee shrinkby 2.9 percent, or $1.9 billion. “Evehn in 2008, when we absorbed the impactf of doubling the homestead exemptionfrom $25,00p0 to $50,000, the property tax roll was relatively flat,” Burgesse explained in the memo.
“Thesde 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 secondconsecutive year, Miami-Dadse faced a $200 million budge t gap in the last fiscal Core services were kept intact by tightenint belts, but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscal year 2009-10 wouls shrink by $174.1 million, accordingv to the memo.
Taking into account the impact of normapl inflationary growth and theeconomic slowdown, combined with the non ad valoremm revenue sources, results in property tax subsidized operations facing a budget gap of $350 millio n to $400 million, Burgess said. “Ws are working diligently to prepare a proposed budget forFY [fiscalp year] 2009-10 that to the extent preserves essential services and minimizes servicew impacts to our residents,” he wrote in the “However, closing a budgetary gap of this size will require some very difficult decisions.
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