HIH POV:
Homestead's property values decreased 2.2% and Florida City decreased 7.5% while the county overall property values increased. The true impact to individual homeowners won't be known until the Miami-Dade Board of County Commissioners (BCC) set the maximum millage rate in mid-August as they've historically done. The early release of this information is a "nice to have" for municipalities planning purposes but for the average citizens it's much-a-do-about-nothing. One may also look up individual property assessments online at the Property Appraiser's website using the New Search.
Mind you the Miami Herald's headline states "Good News" but this qualification should really be left to the readers' interpretation. It's good news for government entities who will now increase property owners' tax bills for services provided. Also, it's good news for those selling their property but for the majority of citizens staying in their homes, it's not good news. This just means higher tax bills come November. Tack on higher windstorm insurance bills to boot and you have a perfect storm brewing once more.
Mind you the Miami Herald's headline states "Good News" but this qualification should really be left to the readers' interpretation. It's good news for government entities who will now increase property owners' tax bills for services provided. Also, it's good news for those selling their property but for the majority of citizens staying in their homes, it's not good news. This just means higher tax bills come November. Tack on higher windstorm insurance bills to boot and you have a perfect storm brewing once more.
In Homestead and Florida City the impact will be less apparent since the overall values continued to decrease though not as much. It appears property values may begin their turn into positive territory. Lets just hope that come November the new Homestead City Council of 2013 allocates the new found monies wisely into sustainable projects that spur growth in the city.
Miami Herald Excerpt:
Property values in Miami-Dade County rose for the second year in a row – welcome news for South Florida municipalities, which derive much of their revenue from property taxes.
“It’s a good thing for anybody in government,” Miami City Manager Johnny Martinez said.
The growth – about 3.1 percent countywide – was slightly less than Miami-Dade Mayor Carlos Gimenez was expecting. Last month, Gimenez predicted property values would rise 3.5 percent, creating in an additional $33.3 million in new revenue for county coffers.
But on Friday, Gimenez said the revised figures were “something we can work with.”
Good news for Miami-Dade: Property values are increasing - Miami-Dade - MiamiHerald.com
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