LTC 161-2008 2008 Assessment Roll Estimatem /~IAMIBEACF
OFFICE OF THE CITY MANAGER
NO. LTC# 161-2008
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LETTER TO COMMISSION
TO: Mayor Matti Herrera Bower and Members of the City Commission
FROM: Jorge M. Gonzalez, City Manager
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DATE: June 12, 2008
SUBJECT: 2008 ASSESSMENT ROLL ESTIMATE
As required by Florida Statue, the Miami-Dade County Property Appraiser advised us that
the 2008 Assessment Roll Estimate for the City of Miami Beach is $27,096,000,000,
including $90 million of new construction. The preliminary estimate is for budget planning
purposes only. The official assessment will be released on July 1, 2008.
This estimate represents an increase of less than 1 % (0.9%) over the 2007 preliminary
assessment of $26,850,061,663. This estimate is an indicator of the slowdown in the
housing market during the last quarter of 2007. It also provides the impact of Amendment
One to our City. If the amendment had not passed, then the estimate would have been
$27,567,000,000 or an increase of 2.7%.
JMG/KGB
Attachment
c: Executive Staff
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MIAMFDiADE
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May 30, 2008
Ms. Patricia Walker
Chief Fin. Officer
City of Miami Beach
1700 Convention Center Drive
Miami Beach, FL 33139
Dear Ms. Walker:
RE: 2008 Assessment Roll Estimate
MIAMI-DARE COUNTY
DEPARTMENT OF PROPERTY APPRAISAL
ADMINISTRATIVE DIVISION
The following estimate is being provided in accordance with Chapter 200.065(7), Florida Statutes, which states:
"The Property A~praiser shat! deliver to the presiding officer of each taxing authority within the
Counfy, June 7S, an estimate of the total assessed value of non-exempt property for the current
year for budget planning purposes."
Form DR-420 -Certification of Taxable Value -will be delivered to all taxing authorities on July 1St, initiating the
statutory budget and millage calendar.
The month of June is the most active and concentrated period at the end of the assessment cycle in terms of
preparing the assessment roll for completion by July 1St. As such, projections used in preparing the figure
provided below represent the best available estimate for measuring changes taking effect during June.
$27,096,000,000
On January 29, 2008, Florida voters passed SJR 2-D (Amendment One). This amendment provides four
additional tax relief benefits to property owners throughout the State. The following three benefits are effective for
2008: Additional $25,000 Homestead Exemption; $25,000 Tangible Personal Property Exemption; and
Portability, which allows homeowners to transfer all or part of their "Save Our Homes" Assessment Difference to a
new home. The fourth benefit, a 10% cap on increases in the annual assessment of non-homesteaded
properties, will go into effect next year.
Please note that Senate Bill 1588, recently approved by the State Legislature, requires taxing authorities to
calculate rolled back millage rates without the Amendment One benefits. The following gross taxable value for
operating purposes is being provided as a courtesy to assist you in rolled back millage rate calculations:
$27,567,000,000
In light of these statutory changes, it is highly recommended that you or your staff attend one of the TRIM
workshops being hosted by the Florida Department of Revenue (see attached).
Sincerely,
Q.wt
Marcus Saiz de la Mora
Property Appraiser
JUN - 4 2008
CHIEF FINANCIAL OFFICER
111 NW 1ST STREET, SCITE 710 MIAMI, FLORIDA 33128
PHONE: (305) 375-4009 FAX': (305) 375-3024
WEB SITE: WlX%lG' MIS\MIDADE GOV/PA
MIAMI-DADE COUNTY PROPERTY APPRAISER
INFORMATION SERVICES DIVISION ~"~Mi®DADE
MAY 30, 2008
AXING AUTORITY 2007
PRELIMINARY
TAXABLE
VALUE 2008 ESTIMATED
TAXABLE VALUE
BEFORE NEW
CONSTRUCTION
PERCENT
CHANGE
NEW
CONSTRUCTION
2008
JUNE 1ST
ESTIMATE
AMENDMENT
ONE
IMPACT
01 MIAMI 39,048,436,817 37,941,000,000 -2.8°ro 1,650,000,000 39,591,000,000 1,196,000,000
011 MIAMI (DDA) 9,698,419,079 9,803,000,000 1.1% 392,000,000 10,195,000,000 113,000,000
02 MIAMI BEACH 26,850,061,663 27,006,000,000 0.6% 90,000,000 27;096,000,000 471,000,000
0201 MB NORMANDY SHORES 151,165,373 143,000,000 -5.4% 0 143,000,000 7,000,000
03 CORAL GABLES 13,245,130,294 13,174,000,004 -0.5% 246,000,000 13,420,000,000 345,000,000
04 HIALEAH 11,025,689,084 10,513,000,000 -4.6% 91,000,000 10,604,000,000 891,000,000
05 MIAMI SPRINGS 1,112,958,267 1,073,000,000 -3.6% 10,000,000 1,083,000,000 85,000,000
06 NORTH MIAMI 3,235,295,527 3,071,000,000 -5.1% 146,000,000 3,217,000,000 215,000,000
07 NORTH MIAMI BEACH 2,732,230,959 2,595,000,000 -5.0% 5,000,000 2,600,000,000 181,000,000
080PA-LOCKA 937,633,178 967,000,000 3.1% 11,000,000 978,000,000 34,000,000
09 SOUTH MIAMI 1,665,098,051 1,639,000,000 -1.6% 25,000,000 1,664,000,000 76,000,000
10 HOMESTEAD 3,803,787,095 3,696,000,000 -2.8% 336,000,000 4,032,000,000 176,004,000
11 MIAMI SHORES 963,259,174 904,000,000 -6.2% 5,000,000 909,000,000 78,000,000
12 BAL HARBOUR 2,482,775,133 2,457,000,000 -1.0% 247,000,000 2,704,000,000 22,000,000
13 BAY HARBOR ISLANDS 880,682,124 810,000,000 -8.0% 7,000,000 817,000,000 36,000,000
14 SURFSIDE 1,577,153,935 1,404,000,000 -11.0% -8,000,000 1,396,000,000 41,004,000
15 WEST MIAMI 411,184,002 392,000,000 -4.7% 7,000,000 399,000,000 34,000,000
16 FLORIDA CITY 719,915,321 778,000,000 8.1% 35,000,000 813,000,000 21,000,000
17 BISCAYNE PARK 210,611,568 176,000,000 -16.4% 1,000,000 177,000,000 22,000,000
18 EL PORTAL 140,940,093 125,000,000 -11.3% 0 125,000,000 15,000,000
19 GOLDEN BEACH 705,403,202 703,000,000 -0.3% 19,000,000 722,000,000 7,000,000
20 PINECREST 3,942,371,638 3,851,000,000 -2.3°/ 100,000,000 3,951,000;000 137,000,000
21 INDIAN CREEK 367,023,231 363,000,000 -1.1% 0 363,000,000 1,000,000
22 MEDLEY 1,849,854,620 1,985,000,000 7.3% 39,000,000 2,024,000,000 21,000,000
23 N. BAY VILLAGE 1,052,874,281 986,000,000 -6.4% 195,000,000 1,181,000,000 29,000,000
24 KEY BISCAYNE 6,514,112,802 6,358,000,000 -2.4% 24,000,000 6,382,000,000 83,000,000
25 SWEETWATER 494,432,799 463,000,000 -6.4% 1,000,000 464,000,000 40,000,000
26 VIRGINIA GARDENS 234,408,015 233,000,000 -0.6% 0 233,000,000 13,000,000
27 HIALEAH GARDENS 1,277,356,473 1,202,000,000 -5.9% 45,000,000 1,247,000,000 105,000,000
28 AVENTURA 9,609,881,719 9,203,000,000 -4.2% 535,000,000 9,738,000,000 250,000,000
291SLANDIA 320,066 320,066 0.0% 0 320,066 0
30 UNINCORPORATED 77,984,880,873 75,047,000,000 -3.8% 1,118,000,000 76,165,000,000 5,430,000,000
31 SUNNY ISLES BEACH 6,287,016,157 5,966,000,000 -5.1% 335,000,000 6,301,000,000 118,000,000
32 MIAMI LAKES 3,223,331,825 3,117,000,400 -3.3% 18,000,000 3,135,000,ODO 191,000,000
33 PALMETTO BAY 2,943,989,255 2,786,000,000 -5.4% 11,000,000 2,797,000,000 176,000,000
34 MIAMI GARDENS 4,841,977,368 4,651,000,000 -3.9% 107,000,000 4,758,000,000 422,000,000
35 DORAL 10,418,582,129 10,616,000,000 1.9% 290,000,000 1Q906,D00,000 242,000,000
36 CUTLER BAY 2,808,566,478 2,677,000,000 -4.7% 116,000,000 2,793,000,400 239,000,000
COUNTY-WIDE 245,337,415,441 238,736,000,000 -2.7% 5,857,000,000 244,593,000,000 11,400,000,000
FIRE AND RESCUE 148,808,520,443 143,863,000,000 -3.3% 3,756,000,000 147,619,000,000 8,455,000,000
LIBRARY 222,622,873,836 217,122,000,000 -2.5% 5,365,000,000 222,467,000,000 9,988,000,000
SCHOOL BOARD 247,443,347,081 251,060,000,000 1.5% 5,857,000,000 256,917,000,000 1,264,000,000
S FL WATER MNGT DIST 247,443,347,081 240,924,000,000 -2.6% 5,857,000,000 246,781,000,000 11,646,000,000
FL INLAND NAV DIST 247,443,347,081 240,924,000,000 -2.6% 5,857,000,000 246,781,000,000 11,646,000,000
THE CHILDRF=.N'S TRUST 247,443,347,081 240,924,000,000 -2.6% 5,857,000,000 246,781,000,000 11,646,000,000