LTC 269-2025 2025 Certified Tax RollMIAMI BEACH
OFFICE OF THE CITY MANAGER
LTC #269-2025 LETTER TO COMMISSION
TO:
FROM:
DATE:
SUBJECT:
Honorable Mayor Steven Meiner and Members of the City Commission
Eric Carpenter, City Manager &u;:, �
July 2, 2025
2025 Certified Tax Roll
The purpose of this Letter to Commission (L TC) is to inform the Mayor and City Commission of
the 2025 Certification of Taxable Values that were provided by the Miami-Dade County Property
Appraiser's Office for the City of Miami Beach as of July 1, 2025. These values are those that will
be utilized in the development of the City's Fiscal Year (FY) 2026 budget.
The attached values reflect an overall increase in property values of approximately $3.9
billion, or 6.9%, from the 2024 Certified Taxable Values of $56.4 billion to the 2025 Certified
Taxable Values of $60.3 billion. This represents a $2.9 billion, or 5.1 %, increase in existing
property values and a $1.0 billion increase in new construction values.
The overall increase in property values represents a projected increase of approximately $20.5
million in General Fund property tax revenues that is comprised of $19.8 million for operating
purposes, $0.4 million for Pay-As-You-Go (PayGo) capital funding, and $0.3 million for Capital
Renewal & Replacement (CRR) funding.
Further, this represents an incremental increase of approximately $1.7 million over the General
Fund property tax revenue projections that were based on the 2025 Estimated Taxable Values
that were provided by the Miami-Dade County Property Appraiser's Office on May 30, 2025, and
reported to the Mayor and City Commission in a Letter to Commission (L TC #226-2025). This
incremental increase represents an additional $1.6 million in funding for operating purposes,
$29,000 in PayGo capital funding, and $25,000 in CRR funding in FY 2026.
Since the City does not receive the City Center Redevelopment Area and North Beach
Community Redevelopment Area property values until the certified values are provided by the
Miami-Dade County Property Appraiser on July 1, 2025, it is important to note that the preliminary
property tax revenue projections as of May 30, 2025 estimated that property values within the
City Center Redevelopment Area and North Beach Community Redevelopment Area would
increase by 6.9%, respectively, over the 2024 Certified Taxable Values of approximately $6. 7
billion for the City Center Redevelopment Area and $1.8 billion for the North Beach Community
Redevelopment Area. However, based on the 2025 Certified Taxable Values provided by the
Miami-Dade County Property Appraiser on July 1, 2025 for the City Center Redevelopment Area
and North Beach Community Redevelopment Area, property values increased by 2. 7% and 3. 7%,
respectively, over the 2024 Certified Taxable Values, which is less than the 6.9% increase in
values that were estimated as of May 30, 2025, increasing General Fund property tax revenues.