HomeMy Public PortalAboutLTC 089-2022 - June 2022 Assessment Roll EstimateBAL HARBOUR
- VILLAGE -
OFFICE OF THE VILLAGE MANAGER LETTER TO COUNCIL
NO. 089-2022
To: Mayor Gabriel Groisman and Members of the Village Council
From: Jorge M. Gonzalez, Village Manager
Date: June 2, 2022
Subject:
2022 June Assessment Roll Estimate
The purpose of this Letter to Council (LTC) is to transmit to you a copy of the Assessment Roll
Estimate provided by the Miami -Dade County Property Appraiser.
On June 1 of each year, the Miami -Dade County Property Appraiser provides an estimate of
the current year's Assessment Roll Values, with official certification to follow on July 1. Existing
property tax values increased $436,923,857 or 8.3% from the 2021 July 1 Estimated Taxable
Value of $5,263,076,143 to the June 1 2022 Estimated Taxable Value of $5,700,000,000.
Applying the estimated increase to our General Fund Property Tax values at the current millage
rate, would result in an increase of $815,794 in tax revenues, at 95% as required for budget
purposes by the State of Florida of tax revenue Village -wide. The overall property tax value
increase results from property sales and new construction that occurred during Calendar 2021.
This increase is timely due to the significant funds needed to fully fund operations of the New
Waterfront Park which is scheduled to begin in FYE 2023.
In late June, we anticipate receipt of revenue estimates from the State of Florida Department
of Revenue for Franchise Fees, Utility Taxes, State Revenue Sharing, Sales Tax, and
Communication Service Taxes, this information will present a more complete picture of the
estimated revenues for the coming Fiscal Year, which will continue the current focus on moving
the Village forward with respect to service delivery, technology, and infrastructure
improvements.
The millage rate determines the ad valorem revenue for the General Fund which funds a
myriad of general governmental services. Every element of the Bal Harbour Experience is
funded in part through General Fund resources and therefore are supported by the General
Fund Property Taxes.
Should you have any questions or need any additional information, please contact me.
Attachment: 2022 Assessment Roll Estimate, Miami -Dade County Property Appraiser
JMG/CD
MIAMI-DADE COUNTY
PROPERTY APPRAISER
ADMINISTRATIVE DIVISION
PEDRO J. GARCIA
PROPERTY APPRAISER
June 1, 2022
The Honorable Gabriel Groisman, Mayor
Bal Harbour Village
655 - 96th Street
Bal Harbour, FL 33154
RE: 2022 JUNE 1st ESTIMATE OF TAXABLE VALUE
Dear Mayor Groisman:
The June 1st Estimate of $5,700,000,000 in taxable value is being provided in accordance with
Section 200.065(8), Florida Statutes, so that you may start preparing for next year's budget. It is
important to note that July 1st is the official certification date for the 2022 assessment roll. The
June 1st taxable value is only an estimate, which is subject to change.
As you start the difficult task of preparing your budget and the adoption of millage rates, please
consider the significant increases in taxable values. With the high rate of inflation, many families
are struggling. Therefore, a reduction in your millage rate may prevent a tax increase for many
homeowners.
I want to thank you for your consideration and if you have questions or need clarification, you may
contact me at 305-375-4004.
Sincerely,
Pedro J. Garcia, MNAA
Property Appraiser
cc: Jorge M. Gonzalez, Village Manager
Claudia Dixon, CFO
111 N\V 1sT STREET, SUITE 710 • MIAMI, FLORIDA • 33128
PHONE: 305-375-4008 • FAX: 305-375-3024
WEB SITE: WWW.MIAMIDADE.GOV/PA
TAXING AUTHORITY
2021
PRELIMINARY
TAXABLE
VALUE
2022 ESTIMATED
TAXABLE VALUE
BEFORE NEW
CONSTRUCTION
PERCENT
CHANGE
NEW
CONSTRUCTION
2022
JUNE 1ST
ESTIMATE
PERCENT
CHANGE
FROM 2021
01 MIAMI
65,835,239,651
71,172,000,000
8.1%
1,728,000,000
72,900,000,000
10.7%
0101 MIAMI ( DDA)
22,648,089,020
24,198,000,000
6.8%
402,000,000
24,600,000,000
8.6%
02 MIAMI BEACH
41,866,674,794
45,283,000,000
8.2%
417,000,000
45,700,000,000
9.2%
0201 MB NORMANDY SHORES
248,856,254
292,000,000
17.3%
6,000,000
298,000,000
19.7%
03 CORAL GABLES
18,125,124,740
19,180,000,000
5.8%
320,000,000
19,500,000,000
7.6%
04 HIALEAH
13,574,919,263
14,881,000,000
9.6%
219,000,000
15,100,000,000
11.2%
05 MIAMI SPRINGS
1,337,475,846
1,414,000,000
5.7%
6,000,000
1,420,000,000
6.2%
06 NORTH MIAMI
3,979,948,977
4,441,000,000
11.6%
59,000,000
4,500,000,000
13.1%
07 NORTH MIAMI BEACH
3,665,481,696
4,027,000,000
9.9%
23,000,000
4,050,000,000
10.5%
08 OPA-LOCKA
1,317,919,528
1,499,000,000
13.7%
21,000,000
1,520,000,000
15.3%
09 SOUTH MIAMI
2,108,476,491
2,266,000,000
7.5%
34,000,000
2,300,000,000
9.1%
10 HOMESTEAD
3,748,723,858
4,121,000,000
9.9%
149,000,000
4,270,000,000
13.9%
11 MIAMI SHORES
1,317,453,798
1,482,000,000
12.5%
8,000,000
1,490,000,000
13.1%
12 BAL HARBOUR
5,263,076,143
5,692,000,000
8.1%
8,000,000
5,700,000,000
8.3%
13 BAY HARBOR ISLANDS
1,374,484,392
1,514,000,000
10.2%
86,000,000
1,600,000,000
16.4%
14 SURFSIDE
3,292,259,681
3,499,000,000
6.3%
1,000,000
3,500,000,000
6.3%
15 WEST MIAMI
721,276,073
822,000,000
14.0%
2,000,000
824,000,000
14.2%
16 FLORIDA CITY
697,121,256
799,000,000
14.6%
101,000,000
900,000,000
29.1%
17 BISCAYNE PARK
270,114,696
303,000,000
12.2%
1,000,000
304,000,000
12.5%
18 EL PORTAL
195,387,623
221,300,000
13.3%
700,000
222,000,000
13.6%
19 GOLDEN BEACH
1,195,352,529
1,403,000,000
17.4%
7,000,000
1,410,000,000
18.0%
20 PINECREST
5,378,007,444
5,800,000,000
7.8%
100,000,000
5,900,000,000
9.7%
21 INDIAN CREEK
723,161,238
826,700,000
14.3%
-700,000
826,000,000
14.2%
22 MEDLEY
2,833,900,262
3,081,000,000
8.7%
19,000,000
3,100,000,000
9.4%
23 N. BAY VILLAGE
1,119,778,896
1,289,800,000
15.2%
200,000
1,290,000,000
15.2%
24 KEY BISCAYNE
8,269,112,147
8,983,000,000
8.6%
17,000,000
9,000,000,000
8.8%
25 SWEETWATER
2,046,875,353
2,334,000,000
14.0%
866,000,000
3,200,000,000
56.3%
26 VIRGINIA GARDENS
312,170,261
341,917,000
9.5%
83,000
342,000,000
9.6%
27 HIALEAH GARDENS
1,596,394,502
1,712,000,000
7.2%
28,000,000
1,740,000,000
9.0%
28 AVENTURA
10,451,356,658
11,186,000,000
7.0%
14,000,000
11,200,000,000
7.2%
30 UNINCORPORATED
92,195,167,037
99,965,000,000
8.4%
235,000,000
100,200,000,000
8.7%
31 SUNNY ISLES BEACH
12,635,842,686
13,403,000,000
6.1%
197,000,000
13,600,000,000
7.6%
32 MIAMI LAKES
3,767,371,566
4,049,000,000
7.5%
21,000,000
4,070,000,000
8.0%
33 PALMETTO BAY
3,366,980,359
3,640,000,000
8.1%
10,000,000
3,650,000,000
8.4%
34 MIAMI GARDENS
5,723,170,495
6,259,000,000
9.4%
341,000,000
6,600,000,000
15.3%
35 DORAL
14,891,126,546
16,051,000,000
7.8%
349,000,000
16,400,000,000
10.1%
36 CUTLER BAY
2,916,183,965
3,191,000,000
9.4%
9,000,000
3,200,000,000
9.7%
COUNTY -WIDE
337,968,694,350
367,008,000,000
8.6%
5,292,000,000
372,300,000,000
10.2%
FIRE AND RESCUE
190,417,305,982
207,415,000,000
8.9%
2,585,000,000
210,000,000,000
10.3%
LIBRARY
303,257,169,998
328,982,000,000
8.5%
4,818,000,000
333,800,000,000
10.1%
SCHOOL BOARD
366,114,505,026
412,402,000,000
12.6%
5,298,000,000
417,700,000,000
14.1%
S FL WATER MNGT DIST
340,060,434,617
369,102,000,000
8.5%
5,298,000,000
374,400,000,000
10.1%
FL INLAND NAV DIST
340,060,434,617
369,102,000,000
8.5%
5,298,000,000
374,400,000,000
10.1%
THE CHILDREN'S TRUST
340,060,434,617
369,102,000,000
8.5%
5,298,000,000
374,400,000,000
10.1%