Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminary tax rollinformationh Monday, with all four taxing jurisdictionsz – fire rescue, library, the unincorporated area and Miami-Dadde overall – seeing a decline. The countywide decreasw comparing preliminary tax numbers from year to year shows a 9perceng decrease, or a total of $22.55 billion.” “Thes e losses would have been worsse if not for new construction that was addedf to the property tax roll as of Jan. County Manager George Burgess said in a memo sent tocounty commissioners. North Bay Village took the biggest hit, down 20.2 percenft from 2008 levels. Homestead saw an 18.
2 percent decline, followeed by Normandy Shores, down 17.5 percent, and Aventur which was down 17.3 Golden Beach and the tiny city of Islandia saw no Medley sawa 1.5 percent drop while Biscaynde Park saw a 4 percen decline. Click for the full list. Staffers revieweds property tax rolls going back to 1985 and founed that 1993 saw taxable valude shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impacr of doubling the homestead exemption from $25,0009 to $50,000, the property tax roll was relatively flat,” Burgessw explained in the memo.
“These losses in property tax roll values are Burgess warned of a lot more pain on the using the last two years as a barometedr of whatis coming. For the seconr consecutive year, Miami-Dade faced a $200 milliobn budget gap in the lastfiscal year. Core servicesx were kept intact by tightening but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscalyear 2009-10 would shrink by $174.1 million, accordingt to the memo.
Taking into account the impact of normal inflationaryg growth and the economic combined with the non ad valoremrevenuw sources, results in property tax subsidized operations facing a budget gap of $350 milliohn to $400 million, Burgesse said. “We are working diligently to prepare a proposed budgetr forFY [fiscal year] 2009-10 that to the extent possible, preserves essential services and minimizes servicew impacts to our residents,” he wrote in the memo. “However, closint a budgetary gap of this size will requirre some verydifficult decisions.
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