Burgess: Property tax losses

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The Miami-Dade County property appraisef released its preliminary tax rollinformatioj Monday, with all four taxing jurisdictions – fire library, the unincorporated area and Miami-Dade overall – seeing a decline. The countywided decrease comparing preliminary tax numbers from year to year showxs a 9percent decrease, or a tota of $22.55 billion.” “These losses wouldc have been worse if not for new constructiom that was added to the property tax roll as of Jan. County Manager George Burgess said in a memo sent tocountyt commissioners. North Bay Village took the biggest hit, down 20.2 percent from 2008 levels. Homestead saw an 18.
2 percent followed by Normandy Shores, down 17.5 percent, and Aventurza which was down 17.3 Golden Beach and the tiny city of Islandia saw no Medley sawa 1.5 percent drop while Biscayne Park saw a 4 percen t decline. Click for the full list. Staffers reviewefd property tax rolls going back to 1985 and foundr that 1993 saw taxables value shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impact of doublingb the homestead exemption from $25,000 to the property tax roll was relatively Burgess explained in the memo. “These losses in property tax roll values are unprecedented.
” Burgess warnef of a lot more pain on the using the last two yearx as a barometer of what is For the second consecutive year, Miami-Daded faced a $200 million budgey gap in the last fiscal Core services were kept intact by tighteninb belts, but assuming the same tax rate adopted for 2008-09, the estimatedr ad valorem revenues for fiscal year 2009-10 would shrinkm by $174.1 million, according to the memo. Takintg into account the impact of normal inflationarty growth and theeconomic slowdown, combined with the non ad valorem revenue results in property tax subsidized operations facing a budger gap of $350 million to $400 million, Burgesse said.
“We are working diligently to prepares a proposed budget forFY [fiscalo year] 2009-10 that to the extent possible, preservex essential services and minimizes service impactxs to our residents,” he wrote in the “However, closing a budgetary gap of this size will requiree some very difficult decisions.”