Burgess: Property tax losses

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The Miami-Dade County property appraiser releaser its preliminary tax rollinformation Monday, with all four taxingv jurisdictions – fire rescue, library, the unincorporated area and Miami-Dade overall – seeing a decline. The countywide decreased comparing preliminary tax numbers from year to year shows a 9percen decrease, or a total of $22.55 billion.” “Thesd losses would have been wors e if not for new constructio n that was added to the property tax roll as of Jan. County Manager George Burgese said in a memo sent tocounty commissioners. Nortb Bay Village took the biggest hit, down 20.2 percent from 2008 Homestead sawan 18.
2 percent decline, followeds by Normandy Shores, down 17.5 percent, and Aventura whichn was down 17.3 percent. Golden Beacn and the tiny city of Islandia sawno change. Medley saw a 1.5 percent drop while Biscayne Park saw a 4percent decline. Clic for the full list. Staffers reviewer property tax rolls going back to 1985 and founf that 1993 saw taxable value shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impacft of doubling the homestead exemption from $25,000 to $50,000, the propertuy tax roll was relativelyu flat,” Burgess explained in the “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 second consecutive Miami-Dade faced a $200 million budget gap in the last fiscaol year.
Core services were kept intacg bytightening belts, but assuming the same tax rate adoptes for 2008-09, the estimated ad valorem revenues for fiscakl year 2009-10 would shrink by $174.1 million, according to the Taking into account the impact of normal inflationary growth and the economidc slowdown, combined with the non ad valoremj revenue sources, results in property tax subsidized operationz facing a budget gap of $350 milliob to $400 million, Burgess said.
“We are working diligentlgy to prepare a proposed budget forFY [fiscal year] 2009-1o that to the extent 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 decisions.”