Miami Gardens tentatively approves keeping its property tax rate the same

Miami Gardens plans to keep its tax rate the same for the upcoming fiscal year. City staff said a surplus from the general fund will help balance the budget.

The proposal

The Miami Gardens City Council voted Tuesday to set a tentative tax rate of $6.93 per $1,000 of assessed property value. If approved, the rate will remain the same for residents.

Impact on taxpayers

Under the proposed rate, the owner of a median home valued at about $83,000 (taken from the median assessed value from the Miami-Dade property appraiser) would pay about $233 in property taxes.

This marks about a $5 increase from last year, if the homeowner qualified for the standard homestead exemption and the home’s assessed value increased by 0.8 percent, which is the maximum allowed by law this year for owner-occupied homes.

That rate will likely not increase as the budget season goes on, but it can be reduced before the council approves the final rate in September.

Taxpayers will also pay about $1.24 per $1,000 of assessed property value toward the city’s debt service. Last year the rate was about $1.30 per $1,000 of assessed value. The additional tax goes toward paying off the city’s $60 million general obligation bond, which voters approved last year.

Impact on services

Miami Gardens projects a surplus of about $490,000 in general fund revenue and has not proposed any cuts in service. City Manager Cameron Benson said $250,000 will go toward the city’s capital reserve and maintenance reserve funds. The remaining money will be used toward the city’s operating budget.

What the city manager says

“We didn’t think we’d need to recommend an increase because we knew we had what we needed with the surplus.” — Cameron Benson

Public hearings

▪ When: 5:01 p.m. Sept. 8 and 6 p.m. Sept. 21.

▪ Where: City Hall, 18605 NW 27th 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 Miami-Dade county, the school board and other local agencies.

This story was originally published July 24, 2015 at 4:56 PM with the headline "Miami Gardens tentatively approves keeping its property tax rate the same."