LTC 273-2024 2024 Certified Property Tax Roll (as of July 1, 2024)MIAMI BEACH
OFFICE OF THE CITY MA NAGER
LTC#
LETTER TO COMMISSION
TO : Honorable M ayor S teven M einer and M em bers of the C ity C om m ission
FR O M : Rickelle W illiam s, Interim City M anager '/?4)
D A TE :
S U B JE C T:
July 2, 2024
2024 Certified Property Tax Roll (as of July 1, 2024)
T he purpose of this Letter to Com m ission (L TC) is to transmit the 2024 Certification of Taxable
Values pro vided by the M iam i-D ade C ounty P ro pert y A ppraiser's O ffice as of Jul y 1, 2024 fo r the
City of M iam i B each. T hese values are those that w ill be utilized in the developm ent of the City's
Fiscal Year (FY ) 2025 budget.
The attached values reflect an overall increase in property values of approximately $4.8
billion, or 9.4%, fr om the 2023 C ert ified Taxable V alues of $51.6 billion to the 2024 C ert ified
Taxable Values of $56.4 billion. T his represents a $4.5 billion, or 8.8%, increase in existing
pro pert y values and a $0.3 billion increase in new construction values.
T he overall increase in pro pert y values results in a pro jected increase of approxim ately $25.0
m illion in G eneral Fund pro pert y tax revenues that is com prised of $23.0 m illion fo r operating
purposes, $0.4 m illion fo r Pay-A s-Y ou-G o (PayG o) capital funding, and $1.6 m illion fo r C apital
R enew al & R eplacem ent (C R R ) funding. It is im port ant to note that the increase in CR R funding
includes the recomm ended re-alignm ent of the reduction in the voted debt serv ice m illage to the
dedicated C R R m illage that w as presented by the A dm inistration at the FE R C Budget Briefing on
June 21, 2024.
Furt her, this represents an increm ental increase of appro xim ately $2.0 m illion over the G eneral
Fund propert y tax revenue pro jections based on the 2024 Estim ated Taxable V alues increase of
8.8% that w as provided by the M iam i-Dade C ounty P ro pert y A ppraiser's O ff ice on M ay 31, 2024,
and report ed to the M ayor and City C omm ission in a Letter to C omm ission (L TC No. 219-2024)
on M ay 31, 2024. T his increm ental increase represents an additional $1.8 m illion fo r opera ting
purposes, $33,000 in PayGo capital funding, and $106,000 in CR R funding in FY 2025.
It is im port ant to note that since the C ity does not receive the City C enter R edevelopm ent Area
and N ort h Beach C omm unity Redevelopm ent A rea pro pert y values until the cert ified values are
provided by the M iam i-D ade County Pro pert y A ppraiser on Jul y 1, 2024, the pre lim inary pro perty
tax revenue pro jections as of M ay 31, 2024 estim ated that propert y values w ithin the City C enter
R edevelopm ent A rea and Nort h Beach Com m unity R edevelopm ent Area w ould increase by 8.8%,
respectively, over the 2023 Cert ified Taxable Values of approxim ately $6.2 billion fo r the C ity
C enter R edevelopm ent A rea and $1.7 billion fo r the N ort h B each C om m unity Redevelopm ent
Area. H ow ever, based on the 2024 C ert ified T axable V alues pro vided by the M iam i-Dade C ounty
Pro pert y A ppraiser on Jul y 1, 2024 fo r the City Center R edevelopm ent A rea and N ort h B each
C om m unity R edevelopm ent A rea, propert y values increased by 8.4 % and 6.6%, respectively,
273-2024
Letter to C om m issio n - 2024 C ertified Property Tax R oll
Pag e 2
over the 2023 Certified Taxable Values, which is less than the 8.8% increase in values estimated
as of May 31, 2024, further increasing General Fund property tax revenues.
July 2023 July 2024 $ %
Certified Certified Change Change
Property Values:
Existing Values $51,560,772,230 $56,099,794,992 $4,539,022,762 8.8%
New Construction - 297,152,107 297,152,107 100.0%
Total Citywide $51,560,772,230 $56,396,947,099 $4,836,174,869 9.4%
City Center Redevelopment Area $6,188,026,922 $6,709,447,439 $521,420,517 8.4%
North Beach Community 1,730,558,116 1,844,424,002 113,865,886 6.6% Redevelopment Area
Total Citywide - Net of RDA & CRA $43,642,187,192 $47,843,075,658 $4,200,888,466 9.6%
The attached values for the Normandy Shores Local Government Neighborhood Improvement
District reflect an overall increase in property values of approximately $55.8 million, or 14.2%,
from the 2023 Certified Taxable Values of $392.8 million to the 2024 Certified Taxable Values of
$448.6 million, which is comprised of a $50.7 million, or 12.9%, increase in existing values and a
$5.1 million increase in values attributed to new construction.
This represents an incremental increase of 0.4% over the 2024 Estimated Taxable Values that
was provided by the Miami-Dade County Property Appraiser's Office on May 31, 2024 and
reported to the Mayor and City Commission in a Letter to Commission (LTC No. 219-2024) on
May 31, 2024.
July 2023 July 2024 $ %
Certified Certified Change Change
Property Values:
Existing Values $392,785,688 $443,527,813 $50,742,125 12.9%
New Construction - 5,135,349 5,135,349 100.0%
Total Normandy Shores $392,785,688 $448,663,162 $55,877,474 14.2%
A summary of the 2024 Certification of Taxable Values provided by the Miami-Dade County
Property Appraiser as of July 1, 2024 for all municipalities within Miami-Dade County has been
attached.
Attachment A- 2024 Certified Taxable Values by Taxing Authority (as of July 1, 2024)
RW/JDG/TOS/RA
Attachment A
MIAMI-DADE COUNTY
PROPERTY APPRAISER
2024 Taxable Values by Taxing Authority
JULY 1, 2024
2023 2024 2024
PRELIMINARY TAXABLE VALUE PRELIMINARY PERCENT
TAXABLE BEFORE NEW PERCENT NEW TAXABLE CHANGE NET VALUE
TAXING AUTHORITY VALUE CONSTRUCTION CHANGE CONSTRUCTION VALUE FROM 2023 CHANGE
01 MIAMI 84,451,768,423 92,356,372,233 9.4% 1,778,937,883 94,135,310,116 11.5% 9,683,541,693
0101 MIAMI (DOA) 27,699,801,239 29,862,406,605 7.8% 205,118,359 30,067,524,964 8.5% 2,367,723,725
02 MIAMI BEACH 51,560,772,230 56,099,794,992 8.8% 297,152,107 56,396,947,099 9.4% 4,836,174,869
0201 MB NORMANDY SHORES 392,785,688 443,527,813 12.9% 5,135,349 448,663,162 14.2% 55,877,474
03 CORAL GABLES 22,642,968,475 24,304,002,800 7.3% 268,657,159 24,572,659,959 8.5% 1,929,691,484
04 HIALEAH 17,549,966,595 19,641,966,073 11.9% 330,631,715 19,972,597,788 13.8% 2,422,631,193
05 MIAMI SPRINGS 1,605,558,349 1,738,432,694 8.3% 7,726,037 1,746,158,731 8.8% 140,600,382
06 NORTH MIAMI 5,260,090,594 5,799,268,691 10.3% 39,711,254 5,838,979,945 11.0% 578,889,351
07 NORTH MIAMI BEACH 4,750,543,371 5,199,642,639 9.5% 137,747,418 5,337,390,057 12.4% 586,846,686
08 OPA-LOCKA 1,718,241,394 1,867,800,364 8.7% 13,470,246 1,881,270,610 9.5% 163,029,216
09 SOUTH MIAMI 2,616,274,873 2,818,014,085 7.7% 22,356,915 2,840,371,000 8.6% 224,096,127
10 HOMESTEAD 5,063,134,921 6,029,463,743 19.1% 31,986,578 6,061,450,321 19.7% 998,315,400
11 MIAMI SHORES 1,756,307,731 1,964,591,448 11.9% 14,390,445 1,978,981,893 12.7% 222,674,162
12 BAL HARBOUR 6,280,833,356 6,845,331,111 9.0% 51,108,737 6,896,439,848 9.8% 615,606,492
13 BAY HARBOR ISLANDS 1,904,907,986 2,086,240,502 9.5% 10,430,676 2,096,671,178 10.1% 191,763,192
14 SURFSIDE 4,103,801,217 4,727,953,680 15.2% 23,625,437 4,751,579,117 15.8% 647,777,900
15 WEST MIAMI 895,159,489 957,534,399 7.0% 11,305,570 968,839,969 8.2% 73,680,480
16 FLORIDA CITY 1,117,791,729 1,215,409,950 8.7% 98,535,022 1,313,944,972 17.5% 196,153,243
17 BISCAYNE PARK 368,562,796 410,947,775 11.5% 2,492,515 413,440,290 12.2% 44,877,494
18 EL PORTAL 268,803,095 304,195,484 13.2% 4,542,193 308,737,677 14.9% 39,934,582
19 GOLDEN BEACH 1,656,778,376 1,847,427,212 11.5% 9,963,612 1,857,390,824 12.1% 200,612,448
20 PINECREST 6,821,658,384 7,433,664,537 9.0% 172,058,722 7,605,723,259 11.5% 784,064,875
21 INDIAN CREEK 884,973,839 1,004,471,312 13.5% -72,085 1,004,399,227 13.5% 119,425,388
22 MEDLEY 5,192,600,352 5,749,601,223 10.7% 45,756,290 5,795,357,513 11.6% 602,757,161
23 N. BAY VILLAGE 1,469,291,321 1,619,547,896 10.2% 2,268,998 1,621,816,894 10.4% 152,525,573
24 KEY BISCAYNE 9,978,517,232 10,976,849,175 10.0% 13,033,997 10,989,883,172 10.1% 1,011,365,940
25 SWEETWATER 3,825,557,441 3,989,319,469 4.3% 158,152,541 4,147,472,010 8.4% 321,914,569
26 VIRGINIA GARDENS 366,592,136 406,819,069 11.0% 317,502 407,136,571 11.1% 40,544,435
27 HIALEAH GARDENS 2,096,680,545 2,300,720,389 9.7% 6,256,869 2,306,977,258 10.0% 210,296,713
28 AVENTURA 12,506,035,242 13,492,542,484 7.9% 56,682,230 13,549,224,714 8.3% 1,043,189,472
30 UNINCORPORATED 112,682,352,503 122,837,283,802 9.0% 1,755,885,967 124,593,169,769 10.6% 11,910,817,266
31 SUNNY ISLES BEACH 15,968,407,601 17,219,358,170 7.8% 612,659,031 17,832,017,201 11.7% 1,863,609,600
32 MIAMI LAKES 4,515,345,099 4,867,956,226 7.8% 23,974,880 4,891,931,106 8.3% 376,586,007
33 PALMETTO BAY 4,172,017,316 4,542,490,563 8.9% 26,379,219 4,568,869,782 9.5% 396,852,466
34 MIAMI GARDENS 7,890,732,663 8,650,662,275 9.6% 102,452,098 8,753,114,373 10.9% 862,381,710
35 DORAL 18,353,405,009 19,973,853,822 8.8% 226,943,549 20,200,797,371 10.1% 1,847,392,362
36 CUTLER BAY 3,668,107,009 4,015,716,038 9.5% 14,669,815 4,030,385,853 9.9% 362,278,844
COUNTY-WIDE 425,816,881,016 465,163,590,936 9.2% 6,362,145,585 471,525,736,521 10.7% 45,708,855,505
FIRE AND RESCUE 239,757,971,408 261,903,789,267 9.2% 3,673,732,724 265,577,521,991 10.8% 25,819,550,583
LIBRARY 381,188,489,827 415,077,132,166 8.9% 5,742,884,509 420,820,016,675 10.4% 39,631,526,848
SCHOOL BOARD 509,432,962,106 556,236,724,360 9.2% 6,365,556,801 562,602,281,161 10.4% 53,169,319,055
S FL WATER MNGT DIST 427,809,390,459 467,145,711,514 9.2% 6,365,568,033 473,511,279,547 10.7% 45,701,889,088
FL INLAND NAV DIST 427,809,390,459 467,145,711,514 9.2% 6,365,568,033 473,511,279,547 10.7% 45,701,889,088
THE CHILDREN'S TRUST 427,809,390,459 467,145,711,514 9.2% 6,365,568,033 473,511,279,547 10.7% 45,701,889,088