Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminaryg tax rollinformation Monday, with all four taxing jurisdictionws – fire rescue, library, the unincorporated area and Miami-Dadw overall – seeing a The countywide decrease comparing preliminary tax numberse from year to year shows a 9 percent or a total of $22.55 “These losses would have been worsd if not for new construction that was addedd to the property tax roll as of Jan. County Manager George Burgess said in a memo sent to county North Bay Village took thebiggestr hit, down 20.2 percengt from 2008 levels. Homestead saw an 18.2 percent decline, followef by Normandy Shores, down 17.
5 percent, and Aventuraw which was down 17.3 percent. Golden Beach and the tiny city of Islandiaq sawno change. Medleh saw a 1.5 percent drop while Biscayne Park saw a 4 percent Click for thefull list. Staffers reviewed property tax rolls going back to 1985 and foun that 1993 saw taxable value shrinkiby 2.9 percent, or $1.9 billion. “Evenb in 2008, when we absorbed the impac of doubling the homestead exemptionfrom $25,0090 to $50,000, the property tax roll was relativel y flat,” Burgess explained in the memo. “These lossex in property tax roll valuezsare 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-Dade facedc a $200 million budget gap in the last fiscakl year. Core services were kept intac t bytightening belts, but assuming the same tax rate adopte for 2008-09, the estimated ad valorem revenues for fiscal year 2009-10 would shrink by $174. million, according to the memo. Takingt into account the impact of normal inflationary growth and the economic combined with the non ad valoremrevenus sources, results in property tax subsidized operations facing a budgeg gap of $350 million to $400 Burgess said.
“We are working diligently to prepare a proposeds budget forFY [fiscal 2009-10 that to the extengt possible, preserves essential services and minimizes servicew impacts to our residents,” he wrote in the “However, closing a budgetary gap of this size will require some very difficulft decisions.”