River Cities

Miami Springs gives final approval to budget

Miami Springs approved its budget and tax rate for the 2014-15 fiscal year at its second budget hearing last week.

The City Council voted to unanimously approve the budget, which leaves the property-tax rate unchanged at $7.67 for every $1,000 of taxable home value.

When the tax rate stays the same, tax bills normally get bigger due to rising home values, although the state constitution limits this.

The owner of a home assessed at $170,000 will pay $940 in tax to the city, an increase of about $20. That assumes the owner qualifies for the standard $50,000 homestead exemption and that the house’s assessed value increased by 1.5 percent, the maximum allowed this year under the Florida Constitution.

This limitation does not apply to rental property, businesses and other real estate not used as the owner’s residence. The assessments of such properties will rise or fall in sync with the market.

Miami Springs homeowners also pay property taxes to Miami-Dade County, the School Board and other agencies.

No resident spoke for or against the budget during the Sept. 22 meeting.

The $20.6 million budget includes $493,000 in debt service for a proposed new aquatic facility and “Stafford Park re-grassing.”

The new fiscal year starts on Oct. 1.

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