LTC 136-2011 June 1, 2011 Preliminary Assessment ... _ " .'. , - ., iii - ., •'.- '
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OFFICE OF THE CITY MANAGER
NO. LTC # j 136-2011 LETTE R2jPej I8� N
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TO: ...Mayor Matti Herrera Bower and Members of the City Commission
FROM: Jorge M. Gonzalez,, City Manager
DATE: June 1`; 2011
SUBJECT': J NE,1 -, 2011 PRELIMINARY ASSESSMENT ROLL ESTIMATE
The purpose of this LTC is to transmit-the preliminary 2011 property assessment values for
the City of .Miami Beach (attached).
These values reflect a decline in existing property values from the 2010 Preliminary Taxable
Value ($22.1'05.biIlion) to the 2011 Estimated Taxable Value ($21:918 billion), a decline of
i
approximately 0.8 %. Applying this decline to our General Fund Pro ert Tax revenues
pP Y- - p y,
would - result in a' reduction of approximately $900;000 of tax revenue citywide.
'Please note, however, the impact on the General Fund will be affected by the portion of the
changes that occurred inside the City's redevelopment�areas (RDA areas) versus outside
the RDA and could vary from the -0.8% Citywide. The breakdown between General
Fund and RDA areas is still pending. We have typically received the RDA component of
these values with, the July 1 St values and will provide any updated analysis at time.
It should be noted that our preliminary estimates contemplated ,a reduction of -5 %o which
equated to approximately $5.6 million, and a.total.budget gap of $11.9 - million.. The Property
Appraiser's estimate reduces that amount by $4.7 million to a $7.2 million
preliminary gap.
If you have -any questions or need additional information, please feel free to contact me.
J MG /KG
MIAMI -DADE COUNTY
OFFICE OF THE PROPERTY APPRAISER
ADMINISTRATIVE DIVISION
-n Honorable Pedro 1 Garcia
Property Appraiser
June :1,:2011
Ms. Patricia Walker
Chief Fin. Officer
City of Miami Beach
:1700 Convention Center Drive
Miami :Beach, - FL.33139
.Dear Ms. Walker:
RE: .2011 ASSESSMENT ROLL .ESTIMATE
The June Y estimate information listed below is being provided in accordance with Section 200.065(8),
Florida Statutes, so that you may start preparing for next year's budget.
We continue°to see a decline in property values county - wide, which was evident as we evaluated - the
various - market factors and conditions reflected in the estimate .below. However, some cities have seen
:a.slight.appreciation in'their assessed value indicative of.a.stabilizing market.
The month of June is historically the most - active and concentrated period at the end of the assessment
cycle in terms of preparing the assessment roll for completion by.July- f t. As such, projections used in
- preparing the figure provided below represent the best available estimate ior- measuring changes taking
effect during .June. Additional fine-tuning - of .assessments is forthcoming and, for some taxing
:authorities, further adjustments may occur.
If you have questions or need clarification, please call �my Deputy Property Appraiser, Lazaro Solis at 305 -
'37.5 -4004.
$21,918,000;000
'.Sincerely,
Pedro 1. Garcia
Property Appraiser
111 \R' III STREi.FT. SU11 F. :111 MIAMI, F1.a:il IDA .13128
V"('X1:: 1113.; 75 44)114 I-AX: 1u5.373..i*P_4
W E. 13 ctrl:: W Nr .covirn
MIAMI -DADE COUNTY
e_ OFFICE OF THE PROPERTY APPRAISER
ADMINISTRATIVE DIVISION
Honorable Pedro J. Gorcia
,�, Property Appraiser
.1une,1,1011
Ms. Patricia Walker
Finance - Director
Normandy Shores
1700 Convention - Center Drive
Miarni:Beach, FL 33139
Dear Ms. Walker:
;RE: :2011 ASSESSMENT ROLL ESTIMATE
The June V estimate information listed below is being provided in accordance with Section 200.065(8),
Florida Statutes, .sothat you may start preparing for next year's budget.
We continue to see.a decline in .property values county -wide, which was evident as we evaluated the
various market factors and - conditions reflected in the'estimate below. However, some cities have .seen
a slight,appreciation in their assessed value indicative of a.stabilizing market.
The month of June is historically the most °active and concentrated period at the end of the assessment
cycle in - terms of preparing the assessment roll for completion by July :15 As .such, projections used in
preparing the provided below represent the best available estimate for measuring changes
- effect during June. Additional fine- tuning - of - assessments is - forthcoming and, for .some taxing
authorities, - further adjustments may occur.
If you questionsorr need clarification, please call my Deputy Property Appraiser, aazaro Solis at'305-
375 -4004.
$104,000,000
Sincerely,
•
Pedro J. Garcia.
Property Appraiser
111 NW I $TRF.FT, SVI'1 ?If) • MIAMI. H.0 it11)
11110N 3(05.375- •fittftl - 1 r1 %: 3115. 375.31)'�•t
%V1 :11 SITE: VF33'V4'_�t 2%11 DAD E.GOV'1PA
MIAMI - ®ADE COUNTY - -,
OFFICE OF THE PROPERTY. APPRAISER
JUNE '1, :2011 - - ESTIMATE OF TAXABLE VALUE y
2010 2011 ESTIMATED
PRELIMINARY TAXABLE VALUE 2011 'NEW -201 PERCENT'.
TAXABLE BEFORE NEW PERCENT CONSTRUCTION JUNE 9ST' CHANGE
TAXING AUTORITY VALUE CONSTRUCTION CHANGE & ANNEXATIONS ESTIMATE; FROM 2010
01 MIAMI 31 29;737,000;000 -5.5% 524,000,000 30,26'I,000,OQQ -3.8%
011 'MIAMI (DDA) 9,806,624,731 9,450,000,000 -3.6% 1, 428,000,000 10,$78,000,000' 10.9%
02 MIAMI BEACH 22,104;742,947 21,826,000,000 -1.3% .92,000,000 21,918,000 ,000 -0.8%
0201 'MB NORMANDY SHORES 101,983,135. 104,000,000 2.0% 0 104,000 ,JQQ 2.0%
03, CORAL GABLES 11,823,977;120 11,743,000,000 -0.7% 85,000,000 ;11,$28,000,000' 0.0%
04 HIALEAH 7,750,713,671 .7,216,000,000 -6.9% 32,000,000 7,248,OQ0,000 -6.5%
05 MIAMI SPRINGS 902,535,320 910,000,000 0.8% - 4,000,000 9141 Q„000 1.3%
06 NORTH MIAMI 2,236,444,714 2,055,000,000 -8.1% 2,000,000 2,05:7,000,000 . - 8.0%
07 NORTH MIAMI BEACH 1,806,996,277 1,733,000,000 ' - 4.1% 4 1,737,000,000 -3.9%
08 OPA -LOCKA 784,617,230 716,000,000 -8.7% . 1,000,000 717,OQ0,,000 -8.6%
09 SOUTH MIAMI 1,422,628,241 1,393,000,000 2.1% 6,000,000 1;399,0OO,OQQ' -1.7%
10 HOMESTEAD 2,053,845,128' 1,831,000 10.9% 25,000,000 1,$56,000 000 -9.6%
11 MIAMI SHORES 721,173,823 ' 712,000,000 -1.3% 2,000,000 714,000,000 -1.0%
12 BAL HARBOUR 2,369,002,301 2 -2.1% 3,000,000 2,322,000,000; -2.0%
13..BAY HARBOR ISLANDS 606,645,530 574,000,000 -5.4%, 1,000,000 57.5,000;000 - 5.2% `
14 SURFSIDE 1 ; 069,725,255 1,002,000 -6.3% 0 1,Q02,000 000, " - 6.3%
15 WEST MIAMI 310 ;715,213 297,000,000 -4.4% 1 298,000;000' =41
16 FLORIDA CITY 551,033,845 462,000,000. 16.2% 4,000,000 466,00000Q - 15.4%
17. BISCAYNE PARK 131;494,615 127,000,000 -3.4% 0 127,000;000 -3.4%
18 EL PORTAL 86 88,000,000 1.8% 0 8$,000;000' 1.8%
19 GOLDEN BEACH 644,237,679 631,000,000 -2.1% - 1,000,000 630,000;000 -2.2%
20 PINECREST 3,517,339,939 3,531,000,000 0.4% 14,000,000 3,545,000000 0.8%
21: INDIAN CREEK 322,054,.646 323,000,000 0.3% 0 323,000 000 0.3%
22 MEDLEY 1,883,748,562 1 1 739,000,000 -7.7% 1,000,000 1;740,000;000, -7.6%
23 N. BAY VILLAGE 691,801,219 643,000,000 -7.1% 0 643,OOQ 000 -7.1%
24 KEY BISCAYNE 5,429,760,280 5,486,000,000 1.0% 24,000,000 5,5 0,000000 1.5%
25-SWEETWATER 331,636,807 319,000;000 -3.8% 884,000,000 1,203,000;,000 262.7%
26 VIRGINIA GARDENS 1206,513,451 190,000,000 -8.0% 0 : 0110001
'' -8.0%
27 HIALEAH GARDENS 988,038,063 923,000,000 -6.6% 7,000,000 930,000 -5.9%
28 AVENTURA 7,244 7,134,000,000 -1.5% 32,000,000 7,166,000:;000,'' .-1.1%
29ISLANDIA 302,103 305,895 1.3 %'' 0 305,$95' 1.3%
30 UNINCORPORATED 57,932,471,192 55,120,000,000 -4.9% - 659,000,000 54,461.,000.,000 -6.0%
31 SUNNY ISLES BEACH 5,630,235,847 5 -1.0% .224,000,000:1...,. f 5;796,fl00,Q00 2.9%
32 MIAMI`LAKES 2,556 2 ; 446,000,000 -4.3% 16,000,000 2 -3.7%
33 PALMETTO BAY 2,389,172,061 2;326,000,000 -2.6% 6,000,000 2,332,0 Otl,QOQ -2.4%
34 MIAMI GARDENS 3,717,102,853 3,407,000,000 -8.3% 39,000,000 3,446,000, GOO: ,. -7.3%
35 DORAL 8,923,466,199 8 6:4 %0 94,000,000 $,442,QQ0,000 -5.4%
36 CUTLER 'BAY 1 ;745,502,655 1,693,000,000 -3.0% 17,000,000 ' 1,710,0413,000 -2.0%
COUNTY -WIDE °192,268,347,808' 184;434,000,000 -4.1 %. 1;507,000;000 1I ,91,00,000 -3.3%
FIRE AND RESCUE. 113,692,695,900 108,440,000,000 -4.6% 750,000,000 109,190,000,000
LIBRARY 1 75,754,250,855 168,850,000,000 -3.9% 1 ; 463,000,000 17Q,3'13,000,000; -3.1%
SCHOOL BOARD 204,460,619,460 197,335,000,000 -3.5% 1,507,000,000 198,842,000,000' - - 2.7%
S FL WATER MNGT D_IST 194,,187,972,510 186,211,000,000 -4.1% 1,507,000,000 187,718,000,000 -3.3%
FL INLAND NAV DIST 194,187,972,510 186,211,000,000 -4.1% 1,507,000,000 187,718,000,000 -3.3%
THE,CHILDREN'S TRUST 194,187,972,510 186,211,000,000 -4.1% 1, 507,000,000 14' 18 o 000 -3.3%
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