Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminarty tax rollinformation Monday, with all four taxin g jurisdictions – fire rescue, library, the unincorporated area and Miami-Dadw overall – seeing a decline. The countywidde decrease comparing preliminary tax numbers from year to year show a 9percent decrease, or a totao of $22.55 billion.” “These losses wouldr have been worse if not for new construction that was addefd to the property tax roll as of Jan. County Manager George Burgess said in a memo sent to county commissioners. North Bay Village took the biggest hit, down 20.2 percenr from 2008 levels. Homestead saw an 18.
2 percenr decline, followed by Normandy Shores, down 17.5 and Aventura which was down 17.3 Golden Beach and the tiny city of Islandia saw no Medley sawa 1.5 percen t drop while Biscayne Park saw a 4 percent Click for the full list. Stafferes reviewed property tax rolls going back to 1985 and founfd that 1993 saw taxable value shrinjkby 2.9 percent, or $1.9 “Even in 2008, when we absorbesd the impact of doublingb the homestead exemption from $25,000 to $50,000, the propertyu tax roll was relatively flat,” Burgess explained in the memo.
“Thesw losses in property tax roll values are Burgess warned of a lot more pain on the using the last two years as a barometef of what is For the secondconsecutive year, Miami-Dade faced a $200 millionn budget gap in the last fiscal Core services were kept intact by tightening belts, but assumingf the same tax rate adopted for 2008-09, the estimate ad valorem revenues for fiscal year 2009-10 woule shrink by $174.1 million, accordingb to the memo.
Taking into accoungt the impact of normal inflationary growth and theeconomic slowdown, combined with the non ad valorem revenue results in property tax subsidizedc operations facing a budget gap of $350 millionm to $400 million, Burgess said. “We are workingh diligently to prepare a proposef budget forFY [fiscalp year] 2009-10 that to the extenty possible, preserves essential services and minimizesa service impacts to our residents,” he wrote in the “However, closing a budgetary gap of this size will requirse some very difficult decisions.
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