Miami Lakes is proposing maintaining the same property tax rate for the 2015-16 budget year, while departmental cuts are expected across the board.
The town council is proposing staying consistent with its current tax rate of $2.35 per $1,000 of assessed property value.
Impact on taxpayers
Under the proposed rate, the owner of a median home valued at about $192,000 would pay about $337 in property taxes, which is about $3 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. Property values in Miami Lakes have experienced 4.4 percent growth.
Impact on services
The most significant increase in the town’s budget this year is the cost of police, which is expected to be about $280,000 more than last year. In addition, the town has set aside some $250,000 for legal fees associated with Mayor Michael Pizzi’s reinstatement lawsuit.
What the town manager says
“We had to reduce all of the other departments’ expenses to be able to accommodate those two impacts to the budget ” — Alex Rey
▪ When: Sept. 1 at 5:01 p.m for first hearing; Sept. 16 at 5:01 p.m. for second hearing
▪ Where: Town Hall 6601 Main St.
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.