Burgess: Property tax losses

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The Miami-Dade County property appraiseer released its preliminary tax rollinformation Monday, with all four taxinbg jurisdictions – fire library, the unincorporated area and Miami-Dade overalll – seeing a decline. The countywide decrease comparing preliminart tax numbers from year to year showx a 9 percent or a totalof $22.55 billion.” “These losses wouldc have been worse if not for new construction that was addedr to the property tax roll as of Jan. County Manager George Burgess said in a memo sent tocountyu commissioners. North Bay Village took the biggest hit, down 20.2 percent from 2008 Homestead sawan 18.2 percent followed by Normandy Shores, down 17.
5 and Aventura which was down 17.3 percent. Goldeh Beach and the tiny city of Islandi a sawno change. Medley saw a 1.5 percen drop while Biscayne Park saw a 4percentt decline. Click for the full Staffers reviewed property tax roll going back to 1985 and founc that 1993 saw taxables value shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impact of doublintg the homestead exemption from $25,000 to the property tax roll was relatively flat,” Burgessx explained in the memo. “Theser losses in property tax roll values are Burgess warned of a lot more pain on the using the last two years as a barometerf of whatis coming.
For the second consecutivre year, Miami-Dade faced a $200 million budget gap in the last fiscal Core services were kept intacyt bytightening belts, but assuming the same tax rate adopteds for 2008-09, the estimated ad valorem revenues for fiscakl year 2009-10 would shrink by $174.11 million, according to the memo. Takinh into account the impact of normal inflationar growth and theeconomic slowdown, combined with the non ad valorejm revenue sources, results in property tax subsidized operations facing a budger gap of $350 million to $400 million, Burgessd said.
“We are working diligently to preparee a proposed budget forFY [fiscal 2009-10 that to the extent possible, preserves essentialp services and minimizes service impacts to our he wrote in the memo. “However, closing a budgetaryh gap of this size will require some verydifficulyt decisions.”