Burgess: Property tax losses

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The Miami-Dade County property appraiser releasede its preliminary tax rollinformation Monday, with all four taxing jurisdictions – fire rescue, library, the unincorporated area and Miami-Dadse overall – seeing a The countywide decrease comparing preliminary tax numbers from year to year showes a 9 percent or a total of $22.55 billion.” “These lossews would have been worse if not for new constructioh that was added to the propertyh tax roll as of Jan. County Manager George Burgess said in a memo sent to county North Bay Village took thebiggest hit, down 20.2 percenyt from 2008 levels. Homestead saw an 18.2 percenty decline, followed by Normand Shores, down 17.
5 percent, and Aventur a which was down 17.3 Golden Beach and the tiny city of Islandia saw no Medley sawa 1.5 perceng drop while Biscayne Park saw a 4 percent Click for the full Staffers reviewed property tax rolls going back to 1985 and founc that 1993 saw taxable value shrink by 2.9 percent, or $1.9 billion. “Evebn in 2008, when we absorbed the impacty of doubling the homestead exemptionfrom $25,0009 to $50,000, the property tax roll was relatively Burgess explained in the “These losses in property tax roll value are unprecedented.” Burgess warned of a lot more pain on the using the last two years as a barometee of what is coming.
For the secondf consecutive year, Miami-Dade faced a $200 millio n budget gap in the lastfiscaol year. Core services were kept intact by tightening belts, but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscal year 2009-10 woulds shrink by $174.1 million, accordin g to the memo. Taking into account the impac of normal inflationary growth and theeconomic slowdown, combinedc with the non ad valorem revenue sources, resultd in property tax subsidized operations facing a budgeft gap of $350 million to $400 Burgess said.
“We are working diligently to prepar e a proposed budget forFY [fiscal year] 2009-10 that to the extenrt possible, preserves essential services and minimizez service impacts to our residents,” he wrote in the memo. closing a budgetary gap of this size will requirwe some verydifficult decisions.”