Typical Miami Beach homeowners would see slightly lower property tax bills after the city commission on Friday proposed a decreased tax rate for the 2015-’16 budget year.
The council is proposing a tax rate of $5.91 per $1,000 of assessed property value, which is slightly lower than last year’s rate. The decrease comes from lower rates across the three rate categories: general operating, capital renewal and replacement and debt service.
Under the proposed rate, the owner of a median home valued at about $211,000 would pay about $961 in property taxes.
This marks an $8 decrease from last year, assuming 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.
Impact on services
With the decrease, city officials will reach the goal of bringing the tax rate back down to the 2009 level.
According to a list of service enhancements discussed by commissioners, the city wants to invest more in increased programming for youth and seniors at public parks and centers, a motorcycle unit for the police department to deal with traffic congestion and add in-house civil engineering staff to handle storm water, water and sewer projects.
What the budget director says
“This is a big step we’ve been working toward for the last four to five years.” — John Woodruff, budget director
▪ When: 5:01 p.m., Sept 10, for first hearing. The second hearing hasn’t yet been scheduled.
▪ Where: 1700 Convention Center Dr., third floor
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.