Burgess: Property tax losses

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The Miami-Dade County property appraiser releasedx its preliminary tax rollinformation Monday, with all four taxingv jurisdictions – fire rescue, library, the unincorporated area and Miami-Dade overall seeing a decline. The countywidew decrease comparing preliminary tax numbers from year to year showws a 9percent decrease, or a total of $22.55 “These losses would have been worse if not for new construction that was addes to the property tax roll as of Jan. County Manager George Burgess said in a memo sent tocountu commissioners. North Bay Village took the biggest hit, down 20.2 perceny from 2008 levels. Homestead saw an 18.2 percent followed by Normandy Shores, down 17.
5 percent, and Aventurza which was down 17.3 Golden Beach and the tiny city of Islandia sawno change. Medley saw a 1.5 percent drop while Biscayne Park saw a 4percentt decline. Click for the full list. Staffers reviewedr property tax rolls going back to 1985 and found that 1993 saw taxable value shrinkby 2.9 or $1.9 billion. “Even in when we absorbed the impact of doubling the homesteaf exemptionfrom $25,000 to $50,000, the properthy tax roll was relatively flat,” Burgess explained in the memo. “These losses in property tax roll valuesware unprecedented.” Burgess warnerd of a lot more pain on the using the last two yearxs as a barometer of what is coming.
For the secondd consecutive year, Miami-Dade faced a $200 million budgef gap in the lastfiscal year. Core servicesa were kept intact bytighteningg belts, but assuming the same tax rate adopted for the estimated ad valoren revenues for fiscal year 2009-10 wouldx shrink by $174.1 million, accordinbg to the memo. Takingf into account the impact of normal inflationary growthb and the economic combined with the non ad valorem revenue results in property tax subsidized operationz facing a budget gapof $350 millioh to $400 million, Burgess said.
“We are working diligently to prepare a proposed budget forFY [fiscapl year] 2009-10 that to the extentf possible, preserves essential services and minimizes service impactxs to our residents,” he wrote in the “However, closing a budgetary gap of this size will requirew some very difficult decisions.”