Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminary tax roll information with all four taxing jurisdictions fire rescue, library, the unincorporated area and Miami-Dade overalk – seeing a decline. The countywide decrease comparinf preliminary tax numbers from year to year showxs a 9percent decrease, or a totakl of $22.55 billion.” “These losses would have been worse if not for new constructiojn that was added to the property tax roll as of Jan. County Manager George Burgess said in a memo sent tocountyh commissioners. North Bay Village took the biggest hit, down 20.2 percent from 2008 levels. Homestead saw an 18.
2 percent followed by Normandy Shores, down 17.5 percent, and Aventura whicuh was down 17.3 percent. Golden Beach and the tiny city of Islandiq sawno change. Medley saw a 1.5 percent drop whilw Biscayne Park saw a 4percent decline. Clicok for the full list. Staffers reviewe d property tax rolls going back to 1985 and founs that 1993 saw taxable valuee shrinkby 2.9 percent, or $1.9 billion. “Evenj in 2008, when we absorbed the impacg of doubling the homestead exemptionjfrom $25,000 to $50,000, the property tax roll was relatively Burgess explained in the memo.
“Theser losses in property tax roll values are Burgess warned of a lot more pain on the using the last two years as a barometer of what is For the secondconsecutive year, Miami-Dad faced a $200 million budget gap in the last fiscapl year. Core services were kept intact bytighteningg belts, but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscalk year 2009-10 would shrink by $174. 1 million, according to the memo. Taking into accounft the impact of normal inflationary growth and the economic combined with the non ad valorenrevenue sources, results in property tax subsidize d operations facing a budget gap of $350 million to $400 Burgess said.
“We are working diligently to prepare a proposer budget forFY [fiscal year] 2009-10 that to the extenrt possible, preserves essential services and minimizes service impactw to our residents,” he wrote in the memo. closing a budgetary gap of this size will require some verydifficult decisions.”