LTC 271-2021 Certified July 1st Assessment RollMIAMI BEACH
OFFICE OF THE CITY MANAGER
LTC NO.
271-2021 LETTER TO COMMISSION
TO:
FROM:
DATE:
Honorable Mayor Dan Gelber and Members of the City Commission
Alina T. Hudak, City Manag(r'
July 1, 2021
SUBJECT: Certified July 1st Assessment Roll
The purpose of this Letter to Commission (L TC) is to transmit the 2021 Certification of Taxable
Values as of July 1, 2021 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, 2021 will be
utilized in the development of the FY 2022 budget.
The attached values reflect an overall increase in property values of approximately $123. 7
million, or 0.3%, from the 2020 Certified Taxable Values of $41. 7 billion to the 2021 Certified
Taxable Values of $41.9 billion. More specifically, the values include a $91.9 million, or 0.2%,
decrease in existing property values and a $215.6 million increase in new construction values.
This represents an increase of approximately $2.3 million over the General Fund property tax
revenue projections based on the 2021 Estimated 0.2% decrease in Taxable Values provided
by the Miami-Dade County Property Appraiser's Office as of June 1, 2021 and reported to the
Mayor and City Commission in the Letter to Commission (L TC 230-2021) dated June 1, 2021.
Applying the overall increase in values to General Fund property tax revenues would result in a
projected increase of approximately $2.3 million in property tax revenue citywide (outside of the
City Center Redevelopment Agency) thus reducing the projected Non-COVID-19 shortfall from
$6.2 million to $3.9 million for FY 2022.
Non-COVID-19 Gap ($6.2 million)
Increase in Property Tax Revenues based on $1.2 million Receipt of July 1st Certified Taxable Values
Increase in Property Tax Revenues from $1.1 million Reduction in City Center RDA Property Values
Updated Non-COVID-19 Gap ($3.9 million)
Preliminary property tax revenue projections as of June 1, 2021 assumed property values within
the City Center RDA would decrease by approximately 0.2% below the certified July 1, 2020
values based on historical trends. However, based on the certified July 1, 2021 values provided
by the Miami-Dade County Property Appraiser's Office, property values within the City Center
Redevelopment Agency decreased by approximately 3. 7% over the certified July 1, 2020
L TC-Certified July 1st Assessment Roll
Page 2
values, thereby increasing the citywide total of General Fund property tax revenues by a greater
percentage than originally projected as of June 1, 2021 .
July 2020 July 2021 $ %
Certified Certified Change Change
Property Assessment
Existing Values 41,742,998,986 41,651,084,940 (91,914,046) -0.2%
New Construction 0 215,589,854 215,589,854 100.0%
Total Citywide 41,742,998,986 41,866,674,794 123 ,675,808 0.3%
City Center RDA 6,204,385,940 5,977 ,864104 (226,521,836) -3.7%
Total Citywide -35 ,538 ,613 ,046 35 ,888,810,690 350,197,644 1 .0% Net of City Center RDA
Property Tax Revenue Projection 196,617,000 198,461 ,000 1,844,000 0 .9%
The Normandy Shores Local Government Neighborhood Improvement District's 2021 Certified
Taxable Values of $248 .9 million reflect an increase of $6 .1 million, or 2.5%, over the 2020
Certified Taxable Values of $242.8 million. This is comprised of a $2.3 million, or 1.0%, increase
in existing values and a $3.8 million increase in new construction values. This represents a
slight increase from the 2021 Estimated 2.2% increase in Taxable Values provided by the
Miami -Dade County Property Appraiser's Office as of June 1, 2021 and reported to the Mayor
and City Commission in the Letter to Commission (L TC 230-2021) dated June 1, 2021.
Property Assessment
Existing Values
New Construction
Total Normandy Shores
July 2020 July 2021 $ %
Certified Certified Change Change
242,757,511
0
242,757,511
245,073,256
3,782,998
248,856,254
2,315,745
3,782,998
6,098,743
1.0 %
100.0%
2 .5%
A summary of the 2021 Certification of Taxable Values for all municipalities within Miami -Dade
County is included in the attachment provided.
@ ·16
ATH/JW/TOS
Attachment -Miami-Dade County Certified Taxable Values (as of July 1, 2021)
MIAMI-DADE COUNTY
PROPERTY APPRAISER
2021 Taxable Values by Taxing Authority
JULY 1, 2021
2020
PRELIMINARY
TAXABLE
TAXING AUTHORITY VALUE
01 MIAMI 63,007,642 ,722
0101 MIAMI ( DDA) 22,602,000,352
02 MIAMI BEACH 41,742,998,986
0201 MB NORMANDY SHORES 242,757,511
03 CORAL GABLES 17,449,831,481
04 HIALEAH 12,482,037,363
05 MIAMI SPRINGS 1,323,842,345
06 NORTH MIAMI 3,739,669,946
07 NORTH MIAMI BEACH 3,529,913,811
08 OPA-LOCKA 1,235 ,577,011
09 SOUTH MIAMI 2 ,073,136,890
10 HOMESTEAD 3,484,285,806
11 MIAMI SHORES 1,257,307,461
12 BAL HARBOUR 5,276,990,506
13 BAY HARBOR ISLANDS 1,378 ,221 ,700
14 SURFSIDE 3,126,037,017
15 WEST MIAMI 653,085,160
16 FLORIDA CITY 636,829,519
17 BISCAYNE PARK 249,288,141
18 EL PORTAL 181,958,463
19 GOLDEN BEACH 1,179,521 ,503
20 PINECREST 5,154,597,513
21 INDIAN CREEK 678,324,831
22 MEDLEY 2,648,409,814
23 N. BAY VILLAGE 1,083 ,771,883
24 KEY BISCAYNE 8,202,651,483
25 SWEETWATER 1,976,624,409
26 VIRGINIA GARDENS 276,373,531
27 HIALEAH GARDENS 1,492,019,968
28AVENTURA 10 ,550,216 ,874
30 UNINCORPORATED 87,269 ,294,245
31 SUNNY ISLES BEACH 11,915,512,092
32 MIAMI LAKES 3,636,955,722
33 PALMETTO BAY 3,199,561,967
34 MIAMI GARDENS 5,346,230,392
35 DORAL 14,321,984,524
36 CUTLER BAY 2,767,525,299
COUNTY-WIDE 324,362,997,164
FIRE AND RESCUE 181,615,345 ,145
LIBRARY 291,615,522 ,001
SCHOOL BOARD 353,183,445,068
S FL WATER MNGT DIST 326,562 ,502,890
FL INLAND NAV DIST 326 ,562,502,890
THE CHILDREN'S TRUST 326,562,502 ,890
2021
TAXABLE VALUE
BEFORE NEW
CONSTRUCTION
64,225,472,980
22,316,998,467
41,651,084,940
245,073,256
17,849,091,106
13 ,333 ,612,170
1,324,257,672
3,954,255,248
3,642,611,833
1,317,128,075
2 ,090,708,822
3,650,070,232
1,311,290,199
5,264,321,258
1,360,284,554
3,290,524,017
667,218,065
641 ,650, 139
268,272,161
194,701,388
1,192,328,644
5,328,679,020
723,161,238
2,821 ,375,702
1,114,812,330
8,246 ,083,253
2,013,561,469
292,582,825
1,577,992,581
10,437,038,206
91,288,369,137
11,338,676,927
3,738,793,267
3,309,481 ,312
5 ,659 ,066 ,597
14 ,505,807,214
2,905,140,046
332,438,164,922
187,252,413,226
298,105,651,606
360,582,168,425
334,528 ,098,016
334,528,098,016
334,528,098,016
2021
RREI.JIMINARY · PERCENT
PERCENT NEW lfAXABLE CHANGE
CHANGE CONSTRUCTION VALUE FROM 2020
1 .9% 1,609,766,671 65,835,239,651 4 .5%
-1.3% 331,090,553 22,648,089,020 0 .2%
-0.2% 215,589,854 41,866,674,794 0.3%
1.0% 3,782,998 248,856,254 2.5%
2.3% 276,033 ,634 18,125,124,740 3 .9%
6.8% 241 ,307,093 " 13,574,919,263 8 .8%
0 .0% 13,218,174 1,337,475,846 1.0%
5.7% 25,693,729 3,979,948,977 6.4%
3.2% 22,869,863 3,665,481,696 3 .8%
6 .6% 791,453 1,317,919,528 6.7%
0 .8% 17,767,669 2 ,108,476,491 1.7%
4.8% 98,653,626 3,748,723,858 7.6%
4.3% 6,163,599 1,317,453,798 4.8%
-0 .2% -1,245,115 5 ,263,076,143 -0 .3%
-1 .3% 14 ,199 ,838 1,374,484,392 -0 .3%
5.3% 1,735,664 3,292,259,681 5 .3%
2.2% 54,058,008 721,276,073 10.4%
0.8% 55,471,117 697,121,256 9.5%
7.6% 1,842,535 2710,114,696 8.4%
7 .0% 686,235 195,387,623 7.4%
1 .1% 3 ,023 ,885 1,195,352,529 1.3%
3.4% 49,328 ,424 5,378,007,444 4 .3%
6.6% 0 723,161,238 6.6%
6.5% 12,524,560 ' 2,833,900,262 7.0%
2.9% 4,966,566 1,119,778,896 3.3%
0 .5% 23,028,894 8,269,112,147 0 .8%
1 .9% 33 ,313,884 2,046,875,353 3.6%
5.9% 19,587,436 i. 3~2,t 70,261 13 .0%
5.8% 18,401,921 j ,596,394,502 7.0%
-1 .1 % 14,318,452 10,451 ,356 ,658 -0.9%
4 .6% 906,797 ,900 92,195,167,037 5.6%
-4 .8% 1,297,165,759 12,635,842,686 6.0%
2.8% 28,578,299 3,767,371,566 3 .6%
3.4% 57,499,047 1
' 3,366,980,359 5.2%
5.9% 64,103 ,898 5,723,170,495 7 .1%
1 .3% 385,319,332 14,891,126,546 4 .0%
5.0% 11 ,043,919 2,916, 1,83,965 5.4%
2.5% 5,530,529,428 337,968,694;350 4.2%
3 .1% 3 ,164,892 ,756 1.. 190,417,305,982 4 .8%
2.2% 5,151,518 ,392 303,257,169,998 4 .0%
2.1% 5,532,336,601 366,1j4,505,026 3.7%
;
2.4% 5 ,532,336,601 340,060,434,617 4 .1%
2.4% 5,532,336,601 340,060,434,6l17 4.1%
2.4% 5,532,336,601 340,060,434 ,617 4 .1%