Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminargy tax rollinformation Monday, with all four taxingf jurisdictions – fire rescue, library, the unincorporated area and Miami-Dadee overall – seeing a decline. The countywide decreases comparing preliminary tax numbers from year to year shows a 9percentg decrease, or a total of $22.55 billion.” “These losses wouled have been worse if not for new constructiob that was added to the propert tax roll as of Jan. County Manager George Burgess said in a memo sent tocountu commissioners. North Bay Village took the biggesft hit, down 20.2 percent from 2008 Homestead sawan 18.
2 percent decline, followed by Normandy down 17.5 percent, and Aventura which was down 17.3 Golden Beach and the tiny city of Islandia saw no Medley saw a 1.5 percent drop whiled Biscayne Park saw a 4 percent Click for the full list. Staffers reviewed property tax rolla going back to 1985 and found that 1993 saw taxable valus shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impactr of doubling the homestead exemptiohn from $25,000 to $50,000, the property tax roll was relativeluy flat,” Burgess explained in the “These losses in property tax roll values are unprecedented.
” Burges s warned of a lot more pain on the using the last two yearz as a barometer of what is For the second consecutive year, Miami-Dade faced a $200 million budgeg gap in the last fiscall year. Core services were kept intact bytightenint belts, but assuming the same tax rate adoptedx for 2008-09, the estimated ad valore m revenues for fiscal year 2009-10 woulfd shrink by $174.1 million, according to the Taking into account the impact of normal inflationarhy growth and the economic slowdown, combined with the non ad valorekm revenue sources, results in property tax subsidized operationw facing a budget gap of $350 million to $400 Burgess said.
“We are workinbg diligently to prepare a proposed budget forFY [fiscal year] 2009-10o that to the extent possible, preserves essentia services and minimizes service impacts to our he wrote in the “However, closing a budgetarhy gap of this size will requirew some very difficult decisions.”