Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminargy tax rollinformation Monday, with all four taxing jurisdictiona – fire rescue, library, the unincorporated area and Miami-Dadee overall – seeing a decline. The countywidwe decrease comparing preliminary tax numbers from year to year showsa a 9percent decrease, or a total of $22.55 billion.” “Thesr losses would have been worse if not for new construction that was addeds to the property tax roll as of Jan. 1,” Countu Manager George Burgess said in a memo sent tocountuy commissioners. North Bay Village took the biggesgt hit, down 20.2 percent from 2008 levels. Homestead saw an 18.
2 percent decline, followed by Normandy down 17.5 percent, and Aventura which was down 17.3 Golden Beach and the tiny city of Islandiaz sawno change. Medlegy saw a 1.5 percent drop while Biscayne Park saw a 4percenft decline. Click for the full list. Staffers reviewer property tax rolls going back to 1985 and founrd that 1993 saw taxable value shrinkby 2.9 percent, or $1.9 “Even in 2008, when we absorbed the impacty of doubling the homestead exemption from $25,009 to $50,000, the propertyh tax roll was relatively Burgess explained in the memo.
“These lossee 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-Dade facedx a $200 million budget gap in the last fiscakl year. Core services were kept intact bytightening belts, but assumin g the same tax rate adopteds for 2008-09, the estimated ad valorem revenues for fiscap year 2009-10 would shrink by $174.1 according to the memo. Taking into accouny the impact of normal inflationary growth and the economic combined with the non ad valoremkrevenue sources, results in propert tax subsidized operations facing a budget gap of $350 milliom to $400 million, Burgess said.
“We are working diligently to prepare a proposed budget forFY [fiscalk year] 2009-10 that to the extent possible, preserveas essential services and minimizes service impacts to our he wrote in the memo. “However, closinbg a budgetary gap of this size will require some verydifficult decisions.”