The Town of Surfside is proposing to keep the same property tax rate for the upcoming 2015-16 budget year in order to maintain the city’s services without having to dip into reserves.
The Town Commission has proposed maintaining the tax rate at $5.03 per $1,000 of taxable property value.
Impact on taxpayers
Under the proposed rate, the owner of a median condo valued at about $293,000 would pay about $1,234 in property taxes, which is about $12 more 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 slightly higher tax bill is the result of increasing property values in Surfside, which experienced 12.4 percent growth.
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.
Impact on services
According to the town’s administration, keeping the same tax rate allows the town to provide the same services and run the government with the same number of employees. The growth in property tax revenue means the town won’t have to use reserve funds.
“The budget that we’re proposing is balanced with no money from reserves,” said finance director Don Nelson.
What the town manager says
“That will allow us to maintain the same amount of staff members that we have today.” — Guillermo Olmedillo
▪ When: Sept. 8 at 5:01 p.m for first hearing; Sept. 21 at 5:01 p.m. for second hearing
▪ Where: Town Hall, 9293 Harding Ave.
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.