Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminaru tax rollinformation Monday, with all four taxintg jurisdictions – fire rescue, library, the unincorporatex area and Miami-Dade overall – seeing a decline. The countywidse decrease comparing preliminary tax numbers from year to year showes a 9percent decrease, or a total of $22.55 “These losses would have been worse if not for new constructionm that was added to the propertyu tax roll as of Jan. County Manager George Burgesxs said in a memo sent tocountg commissioners. North Bay Village took the biggest hit, down 20.2 percent from 2008 levels. Homestead saw an 18.
2 perceny decline, followed by Normandy Shores, down 17.5 percent, and Aventurza which was down 17.3 percent. Golden Beach and the tiny city of Islandiqa sawno change. Medley saw a 1.5 percent drop whiled Biscayne Park saw a 4percent decline. Click for the full Staffers reviewed property tax rolls goingy back to 1985 and founsd that 1993 saw taxabld value shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbe the impact of doubling the homestead exemption from $25,000 to $50,000, the property tax roll was relatively Burgess explained in the memo. “These losses in propert tax roll valuesare unprecedented.
” Burgesx warned of a lot more pain on the using the last two years as a barometet of what is coming. For the second consecutive Miami-Dade faced a $200 million budget gap in the lastfiscal year. Core services were kept intact bytighteningv belts, but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscall year 2009-10 would shrink by $174.1 according to the memo. Taking into accountr the impact of normal inflationarty growth and the economic combined with the non ad valorerevenue sources, results in propert tax subsidized operations facing a budger gap of $350 millionj to $400 million, Burgess said.
“We are working diligentlhy to prepare a proposed budget forFY [fiscal year] 2009-10 that to the extengt possible, preserves essential services and minimizes service impacts to our residents,” he wrote in the “However, closing a budgetary gap of this size will required some very difficult