Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminary tax rollinformation Monday, with all four taxing jurisdictione – fire rescue, library, the unincorporater area and Miami-Dade overall – seeing a decline. The countywidr decrease comparing preliminary tax numbers from year to year shows a 9percenyt decrease, or a total of $22.55 billion.” “These lossess would have been worss if not for new constructiomn that was added to the propertyu tax roll as of Jan. 1,” County Managed George Burgess said in a memo sent tocounth commissioners. North Bay Village took the biggest hit, down 20.2 percengt from 2008 levels. Homesteaf saw an 18.
2 percent decline, followed by Normandt Shores, down 17.5 percent, and Aventura whichy was down 17.3 percent. Golden Beacgh and the tiny city of Islandia saw no Medley sawa 1.5 percent drop while Biscaynde Park saw a 4 percent decline. Click for the full Staffers reviewed property tax rolls going back to 1985 and founxd that 1993 saw taxable value shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impact of doubling the homestead exemption from $25,000 to the property tax roll was relatively Burgess explained in the “These losses in propertuy tax roll values are unprecedented.
” Burgess warned of a lot more pain on the using the last two years as a barometer of what is For the second consecutive year, Miami-Dadr faced a $200 million budget gap in the last fiscall year. Core services were kept intactt bytightening belts, but assuming the same tax rate adopter for 2008-09, the estimated ad valorem revenues for fiscal year 2009-10 would shrink by $174.1 according to the memo. Taking into accouny the impact of normal inflationaryh growth and theeconomic slowdown, combined with the non ad valore revenue sources, results in property tax subsidized operationsd facing a budget gap of $350 million to $400 Burgess said.
“We are workin g diligently to prepare a proposed budget forFY [fiscal 2009-10 that to the extent preserves essential services and minimizes service impactx to our residents,” he wrote in the “However, closing a budgetary gap of this size will requirse some very difficult decisions.”