North Miami Beach will maintain tax rate from last year

North Miami Beach plans to keep its tax rate the same for the upcoming fiscal year, which would lead to a small increase in the typical bill for taxpayers.

The proposal

The North Miami Beach City Council voted Tuesday to set a tentative tax rate of $6.60 per $1,000 of assessed property value. If approved, the rate will have remained the same since 2011.

Impact on taxpayers

Under the proposed rate, the owner of a median home valued at about $82,000 (taken from the median assessed value from the Miami-Dade property appraiser) would pay about $215 in property taxes.

This marks about a $4 increase from last year, assuming two things: that the owner 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 $0.97 per $1,000 of assessed property value toward the city’s debt service. Last year the rate was about $1.03 per $1,000 of assessed value.

Impact on services

North Miami Beach, like every other municipality in Miami-Dade, experienced an increase in property values which played a role in keeping the tax rate the same, according to city staff. The city has taken steps to potentially outsource their trash collection services to a private company, but cuts or reductions in other departments have not been formally introduced.

What the finance director says

“Our debt service is going down slightly because the property values have increased approximately 7 percent.” — Barbara Trinka

Public hearings

▪ When: 6 p.m. Sept. 8 and Sept. 21.

▪ Where: City Hall, 17011 NE 19th 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 23, 2015 at 3:28 PM with the headline "North Miami Beach will maintain tax rate from last year."