The Virginia Gardens Village Council is set to lower taxes by 5 percent for the upcoming fiscal year.
On July 24, council members set the maximum tax rate at 5.150 for every $1,000 of assessed taxable value at a special meeting. The rate can be lowered during the budget process, which includes workshops and public hearings, but cannot easily be raised.
If the rate is adopted, it would be 5 percent lower that this year’s rate of 5.4233.
The median assessed value of the 567 homes in Virginia Gardens is $125,133, according to the county property appraiser’s 2013 tax role reports. Under the proposed rate, the typical homeowner who takes the standard $50,000 Homestead exemption would pay $386.93 in taxes to the city.
Virginia Gardens added $57 million to its tax base thanks to Boeing Training & Flight Service, according to a May 30 memo issued by Property Appraiser Lazaro Solis. The village registered the largest percentage gain of any of Miami-Dade County's 34 municipalities.
Solis called it “a significant increase in value.”
The tiny town, about one-third of a mile in length, sits north of Miami International Airport and is home to Boeing, located in the 6600 block of NW 66th Ave., which purchased an additional $57 million in flight simulators.
“We are lowering the millage rate to help both residents and business owners,” said Virginia Gardens Mayor Spencer Deno IV.
Residents are invited to attend the first public hearing on the proposed 2014-15 budget and tentative millage rate on Sept. 8 at 6 p.m. at the Village Hall.
The second and final public hearing will be held Sept. 22 at 6 p.m.