Burgess: Property tax losses

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The Miami-Dade County propertg appraiser released its preliminary tax roll information with all four taxingjurisdictions – fire rescue, library, the unincorporatec area and Miami-Dade overall seeing a decline. The countywide decrease comparing preliminarty tax numbers from year to year shows a 9 percent or a totalof $22.55 billion.” “These lossesx would have been worser if not for new construction that was added to the properthy tax roll as of Jan. 1,” County Managetr George Burgess said in a memo sent tocountyh commissioners. North Bay Village took the biggest hit, down 20.2 percentt from 2008 levels. Homestead saw an 18.
2 percen decline, followed by Normandy Shores, down 17.5 percent, and Aventura whicbh was down 17.3 percent. Golden Beach and the tiny city of Islandiaq sawno change. Medley saw a 1.5 percent drop whil Biscayne Park saw a 4percenrt decline. Click for the full list. Staffers reviewed propertty tax rolls going back to 1985 and founx that 1993 saw taxable valure shrinkby 2.9 percent, or $1.9 billion. “Even in when we absorbed the impact of doubling the homestea d exemptionfrom $25,000 to $50,000, the property tax roll was relatively flat,” Burgess explained in the “These losses in properthy tax roll values are unprecedented.
” Burgess warned of a lot more pain on the using the last two yearws as a barometer of what is For the second consecutive Miami-Dade faced a $200 million budget gap in the last fiscal Core services were kept intact by tightening belts, but assuminhg the same tax rate adopted for the estimated ad valorem revenues for fiscakl year 2009-10 would shrink by $174.12 million, according to the Taking into account the impact of normakl inflationary growth and the economic combined with the non ad valorem revenues sources, results in property tax subsidized operationsa facing a budget gap of $350 milliom to $400 million, Burgess said.
“Wee are working diligently to prepare a proposes budget forFY [fiscal 2009-10 that to the extentr possible, preserves essential services and minimized service impacts to our residents,” he wrote in the “However, closing a budgetary gap of this size will requirs some very difficult decisions.”