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Biscayne Park is considering annexing 71 acres east of the village, referred to as Biscayne Park East, in an attempt to generate revenues and decrease the overall tax rate for current residents.
According to a recent report, Biscayne Park East is bounded by Northeast 121st Street on the north, 117th Terrace/118th Street on the south, Biscayne Boulevard on the east, and the Florida East Coast Railway on the west. This area includes a commercial area south of the eastern extension of Northeast 118th Street to a point where 16th Avenue intersects with Biscayne Boulevard. About 1,200 people live in the area, which has a total value of $74 million.
As an alternative, the village also is considering annexing a smaller area, with the same east-west boundaries but extending only from the south side of 121st Street to the north side of 119th Street. This area has two housing units, one of which is under construction. It also has two office buildings, a bank, and some light industrial buildings.
In either scenario, City Manager Ana Garcia says it will be a win/win situation for area residents.
“Existing residents will not in any way see any reductions in the services they have become accustomed to receiving. On the contrary, the additional revenues received from the proposed annexation area will enhance the proposed area as well as generate much needed revenue for the existing Biscayne Park area,” said Garcia.
In addition to the added revenue, the city also wants to reduce its tax rate of $9.50 per $1,000 in taxable property value. If the city approves of the annexation, the tax rate could drop to $6.
“The housing market downturn caused us to lose a large amount of our revenues that mostly come from property taxes,” said Garcia.
The anticipated revenue from the annexation of Biscayne Park East is more than $800,000. No workshops have been scheduled however the annexation should be discussed at the next commission meeting at 7 p.m. on July 9 at the Ed Burke Recreation Center, 11400 NE Ninth Ct.
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