LTC 370-2019 CERTIFIED JULY 1st ASSESSMENT ROLLOFFICE OF THE CITY MANAGER
LTC# 370-2019 LETTER TO COMMISSION
TO: Mayor Dan Gelber and Members oft e City Com
FROM: Jimmy L. Morales, City Manager
DATE: July 1, 2019
SUBJECT: CERTIFIED JULY 18 T ASSESSME
The purpose of this Letter to Commission (LTC) is to transmit the 2019 Certification of Taxable
Values as of July 1, 2019 provided by the Miami-Dade County Property Appraiser's Office for the
City of Miami Beach, which have been attached. These values as of July 1, 2019 will be utilized
in the development of the FY 2020 budget.
The attached values reflect an overall increase in property values of approximately $1.2 billion,
or 3.1 %, from the 2018 Certified Taxable Values of $38.9 billion to the 2019 Certified Taxable
Values of $40.1 billion. More specifically, the values include a $1.1 billion, or 2.8%, increase in
existing property values and a $116.4 million, or 62.5%, increase in new construction values.
Applying the overall increase in values to General Fund property tax revenues would result in a
projected increase of approximately $5.2 million in property tax revenue citywide (outside of the
City Center Redevelopment Agency).
This represents an increase of approximately $526,000 over the General Fund property tax
revenue projections of $4.7 million based on the 2019 Estimated 3.0% increase in Taxable Values
provided by the Miami-Dade County Property Appraiser's Office as of June 1, 2019 and reported
to the Mayor and City Commission in the Letter to Commission (LTC 318-2019) dated June 3,
2019.
Preliminary property tax revenue projections as of June 1, 2019 assumed property values within
the City Center RDA would increase by approximately 5.0% over the certified July 1, 2018 values
based on historical trends. However, based on the certified July 1, 2019 values provided by the
Miami-Dade County Property Appraiser's Office, property values within the City Center
Redevelopment Agency increased by approximately 4.4% over the certified July 1, 2018 values,
thereby slightly increasing the citywide total of General Fund property tax revenues by a greater
percentage than originally projected as of June 1, 2019.
f July 2018 1: July 2019 $ :: % :
f Certified i1 Certified : Change, Change
P t A roper y ssessmen
Existing Values 38,701 ,545,195 39,796,383,821 1 ,094,838,626 2.8%
New Construction 186,115,906 302,508,638 116,392,732 62.5%
Total Citywide 38,887,661,101 40,098,892,459 1,211,231,358 3.1%
City Center RDA -5,993,199,959 -6;258,372, 786 ·265, 172,827 4.4%
Total Citywide· Net of City Center RDA 32,894,461,142 33,840,519,673 946,058,531 2.9%
Property Tax Revenue Projection 182,168,000 187,389,000 5,221,000 2.9%
MIAMI-DADE COUNTY
PROPERTY APPRAISER
2019 Taxable Values by Taxing Authority
JULY 1, 2019
TAXING AUTHORITY
01 MIAMI
0101 MIAMI ( DDA)
02 MIAMI BEACH
~01MBNORMANDYSHORES
03 CORAL GABLES
04 HIALEAH
05 MIAMI SPRINGS
06 NORTH MIAMI
07 NORTH MIAMI BEACH
08 OPA-LOCKA
09 SOUTH MIAMI
10 HOMESTEAD
11 MIAMI SHORES
12 BAL HARBOUR
13 BAY HARBOR ISLANDS
14 SURFSIDE
15 WEST MIAMI
16 FLORIDA CITY
17 BISCAYNE PARK
18 EL PORTAL
19 GOLDEN BEACH
20 PINECREST
21 INDIAN CREEK
22 MEDLEY
23 N. BAY VILLAGE
24 KEY BISCAYNE
25 SWEETWATER
26 VIRGINIA GARDENS
27 HIALEAH GARDENS
28 AVENTURA
30 UNINCORPORATED
31 SUNNY ISLES BEACH
32 MIAMI LAKES
33 PALMETTO BAY
34 MIAMI GARDENS
35 DORAL
36 CUTLER BAY
COUNTY-WIDE
FIRE AND RESCUE
LIBRARY
SCHOOL BOARD
S FL WATER MNGT DIST
FL INLAND NAV DIST
THE CHILDREN'S TRUST
2018
PRELIMINARY
TAXABLE
VALUE
53,357' 1 05,033
19,469,904,269
38,887,661 '1 01
212,105,373
16,023,377,296
10,380,884,716
2019
TAXABLE VALUE
BEFORE NEW
CONSTRUCTION
55,741,638,701
19,911 ,317,273
39,796,383,821
219,807,591
16,628,038,192
11,097,040,934
1 '198,702,267 1,253,303,976
3,101,696,052 3,281,665,574
2,932,458,209 3,098,153,829
887,432,725 962,271,647
1,918,166,785 1,976,074,453
2,857,501,054 3,042,760,442
1 '118,032,960 1 '187,450,400
5,498,822,089 5,488,688,497
1,214,738,329 1 ,272,012,544
3,086,020,534 3,110,303,017
550,069,469 568,145,376
529,435,136 555,483,981
217,723,560 228,382,630
159,201,908 167,895,744
1,095,765,448 1 '111 ,206,881
4,810,485,495 4,94 7,403,141
607,887,808 636,701 ,902
2,263,979,563 2,418,951 '165
1,079,858,914 1,087,432,858
8,532,625,700 8,287,260,818
1 '759,085,298 1,846,873,965
268,531 '771 265,037,291
1,285,416,369 1 ,379,190,227
10,365,840,176 10,329,003,588
76,772,241,745 81,520,367,495
11 '120,535,585 10,648,993,425
3,213,878,488 3,310,347,187
2,930, 712,611 3,044,538,230
4,576,969,590 4,917,388,335
13,185,785,200 13,507,424,567
2,517,709,992 2,639,475,462
290,087,138,467 301,253,121,697
163,103,694,160 169,912,476,773
264,182,697,102 274,215,219,219
322,193,015,087 332,198,181,741
292,338,015,696
292,338,015,696
292,338,015,696
303,510,784,452
303,510,784,452
303,510,784,452
L.ni:2019 " • <.
. P~eU~INARY
PERCENT NEW ''•'TAXABLE ·
-•vALUE······· CHANGE CONSTRUCTION .
4.5% 3,219,960,716 .; . '!?8,9(;)1 ,_599 ,417
2.3%
2.3%
3.6%
3.8%
6.9%
4.6%
5.8%
5.7%
8.4%
3.0%
6.5%
6.2%
-0.2%
4.7%
0.8%
3.3%
4.9%
4.9%
5.5%
1.4%
2.8%
4.7%
6.8%
0.7%
-2.9%
5.0%
-1.3%
7.3%
-0.4%
6.2%
-4.2%
3.0%
3.9%
7.4%
2.4%
4.8%
3.8%
4.2%
3.8%
3.1%
3.8%
3.8%
3.8%
1,279,650,867 /2i;H'lo,9~a.14o
302,508,638 ·~o,o9a,l392,459
3,896,854 ''zi3,7b4,445
308,328,426 ~a.9:3aS66J1a
2o9.o2o.o29 "'n:3ae.o6o-.963
3,158,649 • t.i¥56,~6~.9~5
1 04,640,397 :-?~~f~t~~9,i~,Q~\~c?.;l.
300,883,866 •:3,399,037.695
192,167,032 ·:t1~4.4:313,~79
10,997,785 1 1.98'l,o72,238
1 :;:::::::: ~;!:!~~~:f:~!
61 ,863,457 . '• ;: • ; '~,001
<_,,-}fl~ f!;~..:':~>
6,330,378 ...•.... ;: .. ' :39'5
1 ,688,982 __ .. /569 .. aa4,35B
~ " ~ . ·e:;-__ .;._ .• _·; ~:~~~:!~~ ~~/~~~~€~t~·i6
-47,591 ·t .. ;167,848,153
::::~:~;i >fi!i!~
3,773,431. 'Ii:t~1~@:~~~
'~:l~~:i~~ ";ftllli
411,183,044 h1q~74o,ja6,6~2
::::::::~:: ,''~~§:~~~~~
55,244,829 ~;~·365,592,016
,::::!:::: ~~~~~~~!;
208,206,019 .. 13-,715,630,586
11,037,160 42,f;)_so~k1,~;~~2
7,388,336,021 ~'1sa.~i1·~s;:91~ r .. x ., •. ,,; .•..•
3,325,122,337 1'7:3,2,37:,~99,1;10
6,747,098,317 ·;·is6;962'.317,si6
7,395,ooo,697 ' 3aQ;p93A e2;~.1a
7,395,ooo,697 >31 b,Yo{'i85,r49
7,395,ooo,697 · '~~1Bi~6~;7~5;~·49
7,395,000,697 31q,965~:tl35~149
PERCENT
CHANGE
FROM 2018
10.5%
8.8%
3.1%
5.5%
5.7%
8.9%
4.8%
9.2%
15.9%
30.1%
3.6%
10.0%
7.0%
0.0%
9.8%
1.0%
3.6%
5.7%
6.2%
5.4%
5.9%
4.5%
7.5%
6.8%
1.1%
-2.6%
5.4%
-0.7%
7.6%
3.6%
7.3%
4.0%
4.7%
4.2%
8.3%
4.0%
5.3%
6.4%
6.2%
6.4%
5.4%
6.4%
6.4%
6.4%