Burgess: Property tax losses

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The Miami-Dade County property appraisert released its preliminary tax rollinformatiojn Monday, with all four taxing jurisdictionsw – fire rescue, library, the unincorporated area and Miami-Dadre overall – seeing a decline. The countywide decreasr comparing preliminary tax numbers from year to year showsz a 9percent decrease, or a total of $22.55 “These losses would have been worse if not for new construction that was added to the propertty tax roll as of Jan. County Manager George Burgesse 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 percen decline, followed by Normandy Shores, down 17.5 percent, and Aventurza which was down 17.3 Golden Beach and the tiny city of Islandia saw no Medley sawa 1.5 percent drop whild Biscayne Park saw a 4 percent Click for the full list. Stafferse reviewed property tax rolls going back to 1985 and founr that 1993 saw taxable valur shrinkby 2.9 or $1.9 billion. “Even in 2008, when we absorbeed the impact of doubling the homestead exemptionfrom $25,00 0 to $50,000, the property tax roll was relatively flat,” Burgess explained in the memo. “Thes e losses in property tax roll valuesare unprecedented.
” Burgesas warned of a lot more pain on the using the last two years as a barometert of what is coming. For the second consecutivse year, Miami-Dade faced a $200 millionh budget gap in the lastfiscal year. Core servicee were kept intact by tightening but assuming the same tax rate adopted for the estimated ad valorem revenues for fiscalyear 2009-10 woulc shrink by $174.1 million, according to the memo. Taking into account the impac of normal inflationary growth and the economic combined with the non ad valoremrevenu sources, results in property tax subsidized operations facinfg a budget gap of $350 million to $400 Burgess said.
“We are working diligentlyy to prepare a proposedc budget forFY [fiscal 2009-10 that to the extenrt possible, preserves essential services and minimizes service impactsz to our residents,” he wrote in the “However, closing a budgetary gap of this size will requirre some very difficult