Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminaruy tax rollinformation Monday, with all four taxinyg jurisdictions – fire rescue, the unincorporated area and Miami-Dade overall – seeinvg a decline. The countywide decrease comparingv preliminary tax numbers from year to year shows a 9perceng decrease, or a total of $22.55t billion.” “These losses would have been worss if not for new construction that was addec to the property tax roll as of Jan. 1,” Counthy Manager George Burgess said in a memo sent tocountyh commissioners. North Bay Village took the biggest hit, down 20.2 percen from 2008 levels. Homestead saw an 18.
2 percen t decline, followed by Normandy Shores, down 17.5 percent, and Aventurz which was down 17.3 percent. Golden Beach 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 going back to 1985 and foune that 1993 saw taxable value shrinjby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impac t of doubling the homestead exemption from $25,000 to $50,000, the propertgy tax roll was relatively 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 barometer of what is For the secondconsecutive year, Miami-Dade faced a $200 millionj budget gap in the last fiscal year. Core services were kept intactr bytightening belts, but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscapl year 2009-10 would shrink by $174.1 according to the memo.
Taking into account the impact of normal inflationargy growth and theeconomic slowdown, combined with the non ad valorek revenue sources, results in property tax subsidizedr operations facing a budget gap of $350 milliojn to $400 million, Burgess said. “We are workingg diligently to prepare a proposedx budget forFY [fiscal year] 2009-1 that to the extent possible, preserves essential services and minimize service impacts to our he wrote in the memo. “However, closing a budgetary gap of this size will requirde some verydifficult decisions.
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