Surfside proposes keeping property tax rate same

The Town of Surfside is proposing to keep the same property tax rate for the upcoming 2015-16 budget year in order to maintain the city’s services without having to dip into reserves.

The proposal

The Town Commission has proposed maintaining the tax rate at $5.03 per $1,000 of taxable property value.

Impact on taxpayers

Under the proposed rate, the owner of a median condo valued at about $293,000 would pay about $1,234 in property taxes, which is about $12 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. The slightly higher tax bill is the result of increasing property values in Surfside, which experienced 12.4 percent growth.

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

According to the town’s administration, keeping the same tax rate allows the town to provide the same services and run the government with the same number of employees. The growth in property tax revenue means the town won’t have to use reserve funds.

“The budget that we’re proposing is balanced with no money from reserves,” said finance director Don Nelson.

What the town manager says

“That will allow us to maintain the same amount of staff members that we have today.” — Guillermo Olmedillo

Public hearings

▪ When: Sept. 8 at 5:01 p.m for first hearing; Sept. 21 at 5:01 p.m. for second hearing

▪ Where: Town Hall, 9293 Harding Ave.

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.

This story was originally published July 15, 2015 at 2:25 PM with the headline "Surfside proposes keeping property tax rate same."