Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminaryt tax rollinformation Monday, with all four taxing jurisdictionsd – fire rescue, library, the unincorporated area and Miami-Dad e overall – seeing a decline. The countywide decrease comparing preliminargy tax numbers from year to year shows a 9percent decrease, or a total of $22.55 billion.” “These losses would have been worsr if not for new construction that was added to the propertu tax roll as of Jan. 1,” County Manager George Burgess 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 percentf decline, followed by Normandg Shores, down 17.5 percent, and Aventura which was down 17.3 percent. Goldenb 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 founsd that 1993 saw taxabld value shrinkby 2.9 or $1.9 billion. “Even in 2008, when we absorbed the impactt of doubling the homestead exemptionfrom $25,000 to the property tax roll was relatively Burgess explained in the memo. “These lossesw in property tax roll valuexare unprecedented.
” Burgess warned of a lot more pain on the using the last two yearsa as a barometer of what is For the second consecutive year, Miami-Dade faced a $200 millionj budget gap in the last fiscal Core services were kept intact by tightening belts, but assuming the same tax rate adoptee for 2008-09, the estimated ad valorem revenues for fiscall year 2009-10 would shrink by $174.1 million, accordingh to the memo. Taking into account the impact of normal inflationary growth and theeconomicx slowdown, combined with the non ad valorem revenur sources, results in property tax subsidized operation s facing a budget gap of $350 million to $400 million, Burgessa said.
“We are working diligently to preparre a proposed budget forFY [fiscal year] 2009-10 that to the extent possible, preserves essential services and minimizes service impactes to our residents,” he wrote in the “However, closing a budgetarh gap of this size will require some very difficult