Burgess: Property tax losses

Friedrich CP12E10
The Miami-Dade County property appraiser released its preliminary tax rollinformation Monday, with all four taxint jurisdictions – fire rescue, library, the unincorporated area and Miami-Dadde overall – seeing a decline. The countywidde decrease comparing preliminary tax numbers from year to year shows a 9percent decrease, or a total of $22.5 5 billion.” “These losses would have been worse if not for new construction that was added to the propertty tax roll as of Jan. County Manager George Burgess said in a memo sent tocountgy commissioners. North Bay Village took the biggest hit, down 20.2 percent from 2008 levels. Homestead saw an 18.
2 percengt decline, followed by Normandy down 17.5 percent, and Aventura which was down 17.3 Golden Beach and the tiny city of Islandia sawno change. Medley saw a 1.5 percent drop whiles Biscayne Park saw a 4perceny decline. Click for the full list. Stafferas reviewed property tax rolls going back to 1985 and founx that 1993 saw taxable value shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbedd the impact of doubling the homestead exemption from $25,000o to $50,000, the property tax roll was relativelu flat,” Burgess explained in the memo.
“These lossess in property tax roll values are Burgess warned of a lot more pain on the using the last two years as a baromete of whatis coming. For the secondf consecutive year, Miami-Dade faced a $200 milliomn budget gap in the last fiscal Core services were kept intact bytightening belts, but assuminy the same tax rate adopted for 2008-09, the estimateds ad valorem revenues for fiscal year 2009-10 would shrink by $174.
1 according to the Taking into account the impacg of normal inflationary growth and the economifc slowdown, combined with the non ad valorenm revenue sources, results in property tax subsidizexd operations facing a budget gap of $350 millionb to $400 million, Burgess said. “We are workiny diligently to prepare a proposed budget forFY [fiscal 2009-10 that to the extent preserves essential services and minimizes service impacts to our he wrote in the memo. “However, closinhg a budgetary gap of this size will requird some verydifficult decisions.
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