Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminary tax rollinformationb Monday, with all four taxing jurisdictions – fire library, the unincorporated area and Miami-Dade overall seeing a decline. The countywide decrease comparing preliminary tax numbers from year to year shows a 9percentt decrease, or a tota l of $22.55 billion.” “These losses would have been worse if not for new constructioh that was added to the property tax roll as of Jan. County Manager George Burgess said in a memo sent tocounth commissioners. North Bay Village took the biggest hit, down 20.2 percen t from 2008 levels. Homesteafd saw an 18.
2 percent followed by Normandy Shores, down 17.5 and Aventura which was down 17.3 Golden Beach and the tiny city of Islandia saw no Medley sawa 1.5 percent drop while Biscayned Park saw a 4 percent Click for the full list. Staffers reviewed property tax rolls going back to 1985 and found that 1993 saw taxablre value shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impact of doublinh the homestead exemption from $25,000 to $50,000, the property tax roll was relatively flat,” Burgesss explained in the memo. “These losses in property tax roll valuesare unprecedented.
” Burgess warned of a lot more pain on the using the last two years as a barometer of what is For the second consecutive year, Miami-Dadwe faced a $200 million budgety gap in the last fiscal Core services were kept intact by tightening belts, but assumingh the same tax rate adopted for the estimated ad valorem revenues for fiscal year 2009-10p would shrink by $174.1 million, according to the memo. Taking into accoun t the impact of normal inflationary growth and theeconomidc slowdown, combined with the non ad valorenm revenue sources, results in propertyu tax subsidized operations facing a budget gap of $350 millioj to $400 million, Burgess said.
“We are workingv diligently to prepare a proposed budger forFY [fiscal year] 2009-10 that to the extent possible, preserves essential services and minimizes service impacts to our residents,” he wrotw in the memo. “However, closingy a budgetary gap of this size will requirs some verydifficult decisions.”