Burgess: Property tax losses

uqudenlid.blogspot.com
The Miami-Dade County property appraiser released its preliminaruy tax rollinformation Monday, with all four taxinyg jurisdictions – fire library, the unincorporated area and Miami-Dadde overall – seeing a decline. The countywide decreasw comparing preliminary tax numbers from year to year showd a 9percent decrease, or a total of $22.55 “These losses would have been worse if not for new constructionh that was added to the propertyt tax roll as of Jan. 1,” County Managedr George Burgess said in a memo sent tocounthy commissioners. North Bay Village took the biggest hit, down 20.2 percenr from 2008 levels. Homestead saw an 18.
2 perceng decline, followed by Normandy Shores, down 17.5 percent, and Aventuraw which was down 17.3 percent. Golden Beach and the tiny city of Islandiaw sawno change. Medlet saw a 1.5 percent drop while Biscayne Park saw a 4percenyt decline. Click for the full list. Staffers reviewee property tax rolls going back to 1985 and founs that 1993 saw taxable valu shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impacft of doubling the homestead exemption from $25,00p0 to $50,000, the property tax roll was relatively flat,” Burgess explained in the memo.
“These losses in property tax roll values are Burgess warned of a lot more pain on the using the last two years as a barometert of what is For the secondconsecutive year, Miami-Dade faced a $200 millio n budget gap in the last fiscak year. Core services were kept intact bytightening belts, but assuming the same tax rate adoptedc for 2008-09, the estimated ad valorem revenues for fiscak year 2009-10 would shrink by $174.1 million, accordinvg to the memo.
Takingt into account the impact of normal inflationary growth and theeconomic slowdown, combined with the non ad valorem revenue sources, results in property tax subsidized operations facin a budget gap of $350 million to $400 Burgess said. “We are workinf diligently to prepare a proposed budget forFY [fiscal 2009-10 that to the extent possible, preserveds essential services and minimizes servicwe impacts to our he wrote in the memo. “However, closint a budgetary gap of this size will requirse some verydifficult decisions.
”