Bay Harbor Islands homeowners can expect 2015-’16 property tax decrease
The typical homeowner in Bay Harbor Islands would see a slightly lower property tax bill after the town council proposed to lower the property tax rate for the 2015-’[16 budget year.
The proposal
The council is proposing a tax rate of $4.55 per $1,000 of assessed property value, which is lower than last year’s $4.90 rate.
Taxpayer impact
Under the proposed rate, the owner of a typical home valued at about $137,000 would pay about $400 in property taxes.
This is a $26 decrease from last year, assuming 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 owner-occupied home. The town 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
The healthy increase in property values has allowed the town to reduce the tax rate and still pursue projects such as a new $1.5 million community center that will be built. Officials will continue to provide popular services such as parks and recreation programming, which include storytelling at the park for children, monthly movies and activities for seniors. The town will also again hold a Halloween parade. Veterans Day and Memorial Day programs have been added.
What the city manager says
“We do a lot more with less people. We’re way more efficient, and everybody does a lot more.” — Town Manager Ronald J. Wasson, on running Town Hall.
Public hearings
▪ When: 7 p.m., Sept. 16 for first public hearing on budget proposals. 5:01 p.m., Sept. 24 for second hearing.
▪ Where: 9665 Bay Harbor Terr.
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 August 11, 2015 at 3:34 PM with the headline "Bay Harbor Islands homeowners can expect 2015-’16 property tax decrease."