For the fourth consecutive year, the city of Sunny Isles Beach is proposing to lower the property tax rate for the upcoming 2015-16 fiscal year.
The city commission has proposed lowering the tax rate to $2.50 per $1,000 of taxable property value.
Impact on taxpayers
Under the proposed rate, the owner of a median condo valued at about $241,000 would pay about $482 in property taxes, which is about $14 less than last year. This assumes the owner qualified for the standard homestead exemption and the home's assessed value increased by 0.8 percent, the maximum allowed by law this year for an owner-occupied home.
The city will likely not raise that rate any higher as the budget season goes on, but it can be lowered or remain the same.
"I’m pretty confident that it [the tax rate] will stand as already decided by the commission,” City Manager Chris Russo said.
Impact on services
According to the city's administration, although the tax rate is being lowered again, the growth in the city’s tax revenue is what will allow the same services to be provided. Additionally, the city won't have to tap into its reserve funds.
What the city manager says
"We are steadily improving the quality of our services in addition to our facilities,” Russo said, explaining that the city is in the process of completing capital projects over the next few years.
Recently, the city completed the Intracoastal Park system along Collins Avenue and is also about to complete Gateway Park along Sunny Isles Beach Boulevard. Additionally, the city acquired property next to City Hall, which is planned to be a mixed-use building for the Norman S. Edelcup K-8 School, as well as the Sunny Isles Beach Civic and Senior Center.
▪ First hearing: 5:30 p.m. Sept. 15.
▪ Second hearing: 5:30 p.m. Sept. 24.
▪ Where: City Hall, 18070 Collins Ave., Sunny Isles Beach.
Check your mailbox
Homeowners will receive a letter called a “TRIM notice” in August giving them their proposed tax rate and hearing dates. The letter will also include proposed tax rates for the county, school board and other local agencies.