The Miami Springs city council approved a preliminary tax rate Thursday night that is the same as last year.
The tax rate will be about $7.50 per $1,000 of assessed property value, which is the same for the current year. The recommended rate will still require final approval from the council and can be lowered before the 2016-17 budget but it’s not likely to increase.
A resident with a home valued at about $202,028, the median assessed value from the property appraiser’s office, will pay about $1,140.21 in property taxes — about the same amount as last year. That number assumes that the owner qualified for the standard $50,000 homestead exemption, and the home's assessed value rose by only 0.7 percent, the maximum allowed by law this year for owner-occupied homes.
At the meeting, the council also approved a $709,636 payoff of the city's golf course on Aug. 1. The projected loss at the golf course is approximately $356,821.
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"The total general fund budget is $15,965,158 of which $9,980,361, or 62.5 percent, represents employee salary and benefits," states a budget memo dated July 28. "This leaves $5,984,796 to cover all other city needs."
Some of the city’s "wish list" items for the 2016 -17 fiscal year include:
▪ A digital marquee sign at the Circle, $50,000.
▪ Artificial turf for the new tot lot, $100,000.
▪ Sound panels at the gym, $85,000.
▪ Wall council pictures, $10,000.
▪ A window for the city clerk's office, $5,000.
There will be two public hearings for residents to give their input on the city’s proposed budget. The meetings will take place 6 p.m. on Sept. 12 and Sept. 26 at City Hall, 201 Westward Dr.
Homeowners will also receive a letter known as a "TRIM notice" in August giving them their proposed tax rate and hearing dates. The letter also includes proposed tax rates for Miami-Dade County, the school board and other local agencies.
The city's proposed 2015-2016 budget can be viewed online at www.miamisprings-fl.gov/