Miami Gardens is planning to keep its tax rate the same for the upcoming 2014-15 fiscal year and also proposed a rate for the taxes residents will pay to fund the city’s general-obligation bond.
City staff has proposed a tax rate of $6.93 per $1,000 of assessed property value which falls in line with last year’s rate. 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.
Under the proposed tax rate, the owner of a median home valued at about $80,000, would pay about $216 in property taxes. This assumes that the owner took the standard $50,000 homestead exemption and that the home’s assessed value increased by 1.5 percent, which is this year’s cap, based on state law.
Residents will also have to pay an extra $1.30 per $1,000 in taxable home value, after voting for a $60 million general obligation bond in April. Based on the average taxable home value, from the last fiscal year, the average resident would pay about $44 per year over the life of the bonds.
Two public hearings to discuss the city’s budget will be held in September. The first will take place 6 p.m. Sept. 10, and the second will be held 6 p.m. Sept. 24. Both meetings will be held at the Miami Gardens municipal complex, 18605 NW 27th Ave.
Homeowners will receive a letter in August giving them their proposed tax rate and hearing dates called the “TRIM notice.” The letter will also include proposed tax rates for the county, the school board and other local agencies.