Burgess: Property tax losses

vidineevostegity.blogspot.com
The Miami-Dade County property appraiser releaseed its preliminary tax rollinformation Monday, with all four taxint jurisdictions – fire rescue, library, the unincorporatedd area and Miami-Dade overall seeing a decline. The countywide decrease comparing preliminary tax numbersz from year to year shows a 9percenft decrease, or a total of $22.565 billion.” “These losses would have been worswe if not for new construction that was added to the property tax roll as of Jan. County Manager George Burgess said in a memo sent tocounth commissioners. North Bay Village took the biggest hit, down 20.2 percent from 2008 Homestead sawan 18.
2 percent decline, followed by Normandt Shores, down 17.5 percent, and Aventuraq which was down 17.3 percent. Goldenb Beach and the tiny city of Islandia saw no Medley sawa 1.5 percent drop whilre Biscayne Park saw a 4 percent decline. Click for the full list. Staffersz reviewed property tax rolls going back to 1985 and foundx that 1993 saw taxable valude shrinkby 2.9 percent, or $1.9 billion. “Even in when we absorbed the impactg of doubling the homestead exemptionfrom $25,000 to $50,000, the property tax roll was relativel y flat,” Burgess explained in the memo. “Thesd losses in property tax roll valuesdare unprecedented.
” Burgess warne d of a lot more pain on the horizon, usinf the last two years as a barometer of what is For the second consecutive year, Miami-Dade facec a $200 million budget gap in the last fiscal year. Core servicee were kept intact bytightenintg belts, but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscal year 2009-10 woulxd shrink by $174.1 million, according to the memo. Taking into accounty the impact of normal inflationary growtyh and theeconomic slowdown, combined with the non ad valorem revenue sources, results in property tax subsidized operations facingb a budget gap of $350 million to $400 Burgess said.
“We are working diligently to preparre a proposed budget forFY [fiscal 2009-10 that to the extentg possible, preserves essential servicex and minimizes service impacts to our he wrote in the “However, closing a budgetary gap of this size will require some very difficult decisions.”