Miami-Dade County property owners are receiving their Notice of Proposed Property Taxes, commonly referred to as the TRIM Notice, and many homeowners are surprised and disheartened to find their property taxes are higher. These preliminary tax bills are not a reflection of my proposed budget, which called for nearly no tax increase at all. My proposal would keep taxes nearly flat for homesteaded property owners in a home of average value ($164,000), and allow non-homesteaded taxpayers to realize a significant savings.

However, for the first time in history, the Board of County Commissioners failed to set a preliminary tax rate in July. As a result, state law dictated that the advertised tax rate is set at what's called the "rolled-back rate". This rolled-back rate is the amount of money needed to collect the same level of tax revenues as the previous year, is represented as a tax increase for many homeowners. The rate is higher because real estate values are lower requiring a higher millage rate to be assessed.

Keep in mind, the tax rate can be lowered before it becomes final, but it cannot be increased. On September 3rd and 17th, the Board of County Commissioners will hold public budget meetings to adopt a budget and set the final millage rate for the upcoming fiscal year.  Final tax bills go out on November 1st.

Sincerely,

Mayor Carlos Alvarez