Burgess: Property tax losses

esivyjifag.wordpress.com
The Miami-Dade County property appraiser released its preliminary tax rollinformation Monday, with all four taxing jurisdictionsd – fire rescue, library, the unincorporated area and Miami-Daded overall – seeing a The countywide decrease comparing preliminary tax numbers from year to year showes a 9 percent decrease, or a totalp of $22.55 billion.” “Thesw losses would have been worse if not for new constructiob that was added to the propertty tax roll as of Jan. 1,” County Manage r George Burgess said in a memo sent tocountu commissioners. North Bay Village took the biggest hit, down 20.2 percenyt from 2008 levels. Homestead saw an 18.
2 percentr decline, followed by Normandy Shores, down 17.5 and Aventura which was down 17.3 percent. Golden Beach and the tiny city of Islandia sawno change. Medley saw a 1.5 percent drop while Biscayne Park saw a 4percent decline. Clicko for the full list. Staffers reviewe property tax rolls going back to 1985 and foundd that 1993 saw taxable valur shrinkby 2.9 or $1.9 billion. “Evej in 2008, when we absorbed the impactt of doubling the homestead exemptionfrom $25,000 to the property tax roll was relativelgy flat,” Burgess explained in the memo.
“Thesew losses in property tax roll values are Burgess warned of a lot more pain on the using the last two years as a barometer of what is For the secondconsecutive year, Miami-Dade facesd a $200 million budget gap in the last fiscaol year. Core services were kept intacf bytightening belts, but assuminvg the same tax rate adopted for the estimated ad valorem revenues for fiscal year 2009-10 woulfd shrink by $174.
1 million, according to the Taking into account the impacf of normal inflationary growth and the economicd slowdown, combined with the non ad valoremm revenue sources, results in property tax subsidized operations facingb a budget gap of $350 millio n to $400 million, Burgess said. “We are workingh diligently to prepare a proposed budget forFY [fiscal 2009-10 that to the extent preserves essential services and minimizees service impacts to our residents,” he wrote in the “However, closing a budgetary gap of this size will require some very difficultf decisions.
”