According to the Miami Herald, on July 31st The Homestead City Council unanimously voted to advertise via the state-mandated letter known as a "TRIM Notice" a reduce the city tax millage rate to $5.9215 from last year’s rate of $6.2435 per $1,000 of taxable property for the 2013-2014 budget starting on Oct. 1. The advertised rate sets the ceiling millage rate and they can only further reduce it.
If the advertised rate becomes final, the owner of a $170,000 home would pay about $728, down from $749 this year. These figures assume the owner qualifies for the standard $50,000 homestead exemption, and that the home’s taxable value increased by 1.7 percent, the maximum allowed this year for an owner-occupied home.
The council will hold two public hearings on the budget: 5:30 p.m. on Sept. 11 and 5 p.m. on Sept. 25 at the William F. Dickinson Community Center.
Homestead looking at lower property-tax rate - Homestead / South Dade - MiamiHerald.com