Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminary tax rollinformationj Monday, with all four taxing jurisdictionas – fire rescue, library, the unincorporated area and Miami-Dadd overall – seeing a The countywide decrease comparing preliminary tax numberas from year to year shows a 9 percent decrease, or a totaol of $22.55 billion.” “Theser losses would have been worse if not for new construction that was added to the property tax roll as of Jan. County Manager George Burgess said in a memo sent tocountuy commissioners. North Bay Village took the biggest hit, down 20.2 percent from 2008 levels. Homestead saw an 18.
2 percentt decline, followed by Normandy Shores, down 17.5 and Aventura which was down 17.3 Golden Beach and the tiny city of Islandiaz sawno change. Medley saw a 1.5 percenty drop while Biscayne Park saw a 4percenrt decline. Click for the full list. Staffersz reviewed property tax rolls going back to 1985 and foun that 1993 saw taxable value shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impactg of doubling the homestead exemption from $25,000 to the property tax roll was relatively flat,” Burgesx explained in the memo. “Thes e losses in property tax roll valuesare unprecedented.
” Burgess warnesd of a lot more pain on the using the last two years as a barometer of what is For the second consecutive year, Miami-Dade faced a $200 milliomn budget gap in the last fiscal year. Core servicexs were kept intact bytightening belts, but assuming the same tax rate adopte d for 2008-09, the estimatedx ad valorem revenues for fiscal year 2009-10 woulrd shrink by $174.1 according to the memo. Taking into account the impacrt of normal inflationary growth and theeconomi slowdown, combined with the non ad valorem revenue sources, results in property tax subsidizef operations facing a budgeg gap of $350 million to $400 million, Burgess said.
“Wde are working diligently to prepare a proposed budge forFY [fiscal year] 2009-10 that to the exteng possible, preserves essential services and minimizee service impacts to our residents,” he wrote in the “However, closing a budgetary gap of this size will requirwe some very difficult decisions.”