Burgess: Property tax losses

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The Miami-Dade County property appraised released its preliminary tax roll information with all four taxingjurisdictions – fire rescue, the unincorporated area and Miami-Dade overal – seeing a The countywide decrease comparing preliminary tax numbers from year to year showxs a 9 percent decrease, or a totaol of $22.55 billion.” “These losses would have been worsde if not for new construction that was adder to the property tax roll as of Jan. County Manager George Burgess said in a memo sent tocountyg commissioners. North Bay Village took the biggest hit, down 20.2 percenyt from 2008 levels. Homestead saw an 18.
2 percentf decline, followed by Normandhy Shores, down 17.5 percent, and Aventurz which was down 17.3 Golden Beach and the tiny city of Islandis sawno change. Medleh saw a 1.5 percent drop while Biscayns Park saw a 4percent decline. Click for the full Staffers reviewed property tax rolls going back to 1985 and founed that 1993 saw taxable value shrinkby 2.9 or $1.9 billion. “Even in 2008, when we absorbedd the impact of doubling the homestead exemptionfrom $25,000 to the property tax roll was relatively flat,” Burgesw explained in the memo. “These lossews in property tax roll valuewsare unprecedented.
” Burgess warned of a lot more pain on the using the last two years as a barometer of what is coming. For the second consecutive year, Miami-Dade faced a $200 million budget gap in the lastfiscalk year. Core services were kept intactf bytightening belts, but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscal year 2009-100 would shrink by $174.1 according to the memo.
Taking into account the impacr of normal inflationary growth and theeconomic slowdown, combinedx with the non ad valorenm revenue sources, results in property tax subsidized operations facing a budger gap of $350 million to $400 million, Burgess “We are working diligently to prepare a proposed budgett for FY [fiscal year] 2009-10 that to the extenr possible, preserves essential services and minimizes service impacte to our residents,” he wrote in the “However, closing a budgetary gap of this size will requird some very difficult decisions.
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