Burgess: Property tax losses

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The Miami-Dade County propertyu appraiser released its preliminary tax roll information with all four taxingjurisdictions – fire rescue, the unincorporated area and Miami-Dade overall – seeing a The countywide decrease comparing preliminary tax numbers from year to year showz a 9 percent decrease, or a totakl of $22.55 billion.” “These losses would have been worse if not for new construction that was added to the property tax roll as of Jan. 1,” County Managefr George Burgess said in a memo sent to county North Bay Village took thebiggest hit, down 20.2 percenr from 2008 levels. Homestead saw an 18.2 perceng 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 sawa 1.5 percent drop while Biscayne Park saw a 4 percenf decline. Click for the full list. Stafferse reviewed property tax rolls going back to 1985 and found that 1993 saw taxable value shrinkby 2.9 or $1.9 billion. “Even in 2008, when we absorbef the impact of doubling the homestead exemptionfrom $25,00p0 to $50,000, the property tax roll was relativel flat,” Burgess explained in the “These losses in property tax roll valuews are unprecedented.
” Burgess warned of a lot more pain on the using the last two years as a barometer of what is For the second consecutiv e year, Miami-Dade faced a $200 million budget gap in the last fiscalk year. Core services were kept intact bytighteninyg belts, but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscalp year 2009-10 would shrinjk by $174.1 million, according to the memo. Takinbg into account the impact of normal inflationar growth and the economic combined with the non ad valoremrevenue sources, resulte in property tax subsidized operations facing a budgetf gap of $350 million to $400 million, Burgess said.
“We are working diligently to prepard a proposed budget forFY [fiscal 2009-10 that to the extentg possible, preserves essential serviced and minimizes service impacts to our residents,” he wrote in the memo. “However, closintg a budgetary gap of this size will requires some verydifficult decisions.”