Burgess: Property tax losses

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The Miami-Dade County property appraiser released its preliminar tax roll information with all four taxingjurisdictiona – fire rescue, library, the unincorporated area and Miami-Dade overalpl – seeing a decline. The countywide decrease comparingb preliminary tax numbers from year to year shows a 9percen decrease, or a total of $22.5 billion.” “These losses would have been worse if not for new constructiohn that was added to the propertty tax roll as of Jan. 1,” County Managefr George Burgess said in a memo sent tocountyh commissioners. North Bay Village took the biggest hit, down 20.2 perceng from 2008 levels. Homestead saw an 18.
2 percent followed by Normandy Shores, down 17.5 and Aventura which was down 17.3 percent. Goldeb Beach and the tiny city of Islandia saw no Medley sawa 1.5 percent drop while Biscayne Park saw a 4 perceny decline. Click for the full list. Staffers reviewerd property tax rolls going back to 1985 and founde that 1993 saw taxable value shrinkby 2.9 or $1.9 billion. “Even in when we absorbed the impact of doubling the homestead exemptiohnfrom $25,000 to $50,000, the property tax roll was relatively flat,” Burgess explained in the memo. “These lossex in property tax roll valueaare unprecedented.
” Burgess warned 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 million budgey gap in the last fiscal year. Core services were kept intact bytightening belts, but assumingh the same tax rate adoptefd for 2008-09, the estimated ad valorem revenues for fiscal year 2009-10 would shrink by $174.1 million, according to the Taking into account the impact of norma inflationary growth and the economic slowdown, combinerd with the non ad valorem revenue sources, resultx in property tax subsidized operations facingf a budget gap of $350 million to $400 Burgess said.
“We are working diligentlt to prepare a proposed budgety forFY [fiscal year] 2009-10 that to the extent preserves essential services and minimizes service impacts to our he wrote in the memo. “However, closing a budgetaruy gap of this size will require some verydifficult