HomeMy Public PortalAboutLTC 107-2022 July 2022 Assessment Roll EstimateBAL HARBOUR
- VILLAGE -
To:
From: Jorge M. Gonzalez, Village Managr
Date: July 8, 2022
Subject: 2022 July Certified Preliminary Assessment Roll Value
OFFICE OF THE VILLAGE MANAGER LETTER TO COUNCIL
NO. 107-2022
Mayor Gabriel Groisman and Members of the Village Council
The purpose of this Letter to Council (LTC) is to transmit to you (1) a copy of the 2022 Certified
Preliminary Assessment Roll Value; and (2) the final 2021 Tax Roll which are both provided by
the Miami -Dade County Property Appraiser.
On July 1st, of each year, the Miami -Dade County Property Appraiser provides the official
certified current year's Preliminary Assessment Roll Values. Existing property tax values
increased $511,125,733 or 9.7% (including the addition of new construction) from the 2021
July 1 Estimated Taxable Value of $5,263,076,143 to the July 1 2022 Preliminary Taxable Value
of $5,774,201,876. Applying the increase to our General Fund Property Tax values at the
current millage rate, would result in an increase of $954,338 in Ad Valorem revenues, at 95%
as required for budget purposes by the State of Florida oftax revenue Village -wide. The overall
preliminary property tax value increase results from property sales and new construction that
occurred during Calendar 2021. As previously reported, this increase is timely due to the
significant funds needed to fully fund operations of the New Waterfront Park which is
scheduled to begin operations in FYE 2023. This increase however is subject to changes that
could result from the Value Adjustment Board Hearings over the next 12 months.
The final 2021 Tax Roll reflects a Final Assessment Value of $5,172,770,895. As you know our
FYE 2022 adopted budgeted Ad Valorem Revenue included a decline of $25,980 based on
the certified preliminary assessment roll value for 2021. That amount combined with the
projected shortfall from the final 2021 Tax Roll Values on the adopted budget FYE 2022 Ad
Valorem Revenue of $168,612; results in an overall decline of $194,592 in tax revenues in for
FYE 2022. This additional decrease is the result of Value Adjustment Board approvals. The
decrease will be absorbed as a part of the FYE 2022 Operating Budget. FYE 2022 represents
the 3rd consecutive year where the Village has experienced declines in Property Values. The
below table reflects the impact on budgeted Ad Valorem revenues for each respective year:
FYE 2022 -
FYE 2019 - FYE 2020 - FYE 2021 - Amended
Description Final Budget Final Budget Final Budget Budget
Ad Valorem TaxE S 10,267,100 S 10,269,500
Change
9,852,900
9,658,308
2,400
(416;600) (194,592)
(*) - Reflects the anticipated shortfall based on the Final 2021 Tax Roll.
BAL HARBOUR
- VILLAGE -
The current millage rate of 1.9654 mills (calculated at the 95% rate allowed by the State of
Florida for budget purposes), would generate $10,781,186. The anticipated increase for FYE
2023 helps offset Ad Valorem losses experienced as a result of property value declines during
the past 3 years.
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 Taxable Values by Taxing Authority - July 1, 2022, Miami -Dade County Property Appraiser
2021 Final Tax Roll Value, Miami -Dade County Property Appraiser
JMG/CD
TAXING AUTHORITY
2021
PRELIMINARY
TAXABLE
VALUE
2022
TAXABLE VALUE
BEFORE NEW
CONSTRUCTION
PERCENT
CHANGE
NEW
CONSTRUCTION
2022
PRELIMINARY
TAXABLE
VALUE
PERCENT
CHANGE
FROM 2021
01 MIAMI
65,835,239,651
72,032,431,678
9.4%
1,717,049,533
73,749,481,211
12.0%
0101 MIAMI (DDA)
22,648,089,020
24,259,905,056
7.1%
342,628,747
24,602,533,803
8.6%
02 MIAMI BEACH
41,866,674,794
45,828,304,965
9.5%
716,389,105
46,544,694,070
11.2%
0201 MB NORMANDY SHORES
248,856,254
298,359,433
19.9%
7,113,479
305,472,912
22.8%
03 CORAL GABLES
18,125,124,740
19,782,597,174
9.1%
318,412,413
20,101,009,587
10.9%
04 HIALEAH
13,574,919,263
15,130,421,008
11.5%
239,450,091
15,369,871,099
13.2%
05 MIAMI SPRINGS
1,337,475,846
1,442,515,259
7.9%
7,290,872
1,449,806,131
8.4%
06 NORTH MIAMI
3,979,948,977
4,534,978,334
13.9%
70,466,266
4,605,444,600
15.7%
07 NORTH MIAMI BEACH
3,665,481,696
4,085,715,224
11.5%
27,710,728
4,113,425,952
12.2%
08 OPA-LOCKA
1,317,919,528
1,485,648,776
12.7%
65,739,414
1,551,388,190
17.7%
09 SOUTH MIAMI
2,108,476,491
2,324,153,416
10.2%
38,827,540
2,362,980,956
12.1%
10 HOMESTEAD
3,748,723,858
4,205,238,091
12.2%
155,373,685
4,360,611,776
16.3%
11 MIAMI SHORES
1,317,453,798
1,525,189,525
15.8%
10,274,773
1,535,464,298
16.5%
12 BAL HARBOUR
5,263,076,143
5,747,224,009
9.2%
26,977,867
5,774,201,876
9.7%
13 BAY HARBOR ISLANDS
1,374,484,392
1,544,471,761
12.4%
88,331,457
1,632,803,218
18.8%
14 SURFSIDE
3,292,259,681
3,649,268,996
10.8%
1,779,634
3,651,048,630
10.9%
15 WEST MIAMI
721,276,073
825,502,489
14.5%
3,291,367
828,793,856
14.9%
16 FLORIDA CITY
697,121,256
818,169,163
17.4%
107,312,542
925,481,705
32.8%
17 BISCAYNE PARK
270,114,696
308,202,598
14.1%
1,505,091
309,707,689
14.7%
18 EL PORTAL
195,387,623
225,400,602
15.4%
839,900
226,240,502
15.8%
19 GOLDEN BEACH
1,195,352,529
1,427,090,298
19.4%
11,332,039
1,438,422,337
20.3%
20 PINECREST
5,378,007,444
5,960,514,241
10.8%
106,195,967
6,066,710,208
12.8%
21 INDIAN CREEK
723,161,238
832,690,987
15.1%
-719,542
831,971,445
15.0%
22 MEDLEY
2,833,900,262
3,184,588,695
12.4%
20,653,469
3,205,242,164
13.1%
23 N. BAY VILLAGE
1,119,778,896
1,310,746,908
17.1%
353,539
1,311,100,447
17.1%
24 KEY BISCAYNE
8,269,112,147
9,074,001,912
9.7%
22,493,272
9,096,495,184
10.0%
25 SWEETWATER
2,046,875,353
2,266,348,207
10.7%
1,040,810,824
3,307,159,031
61.6%
26 VIRGINIA GARDENS
312,170,261
372,399,047
19.3%
90,254
372,489,301
19.3%
27 HIALEAH GARDENS
1,596,394,502
1,739,385,653
9.0%
29,397,924
1,768,783,577
10.8%
28AVENTURA
10,451,356,658
11,302,394,457
8.1%
65,997,082
11,368,391,539
8.8%
30 UNINCORPORATED
92,195,167,037
101,450,834,677
10.0%
372,958,131
101,823,792,808
10.4%
31 SUNNY ISLES BEACH
12,635,842,686
13,584,165,132
7.5%
197,629,908
13,781,795,040
9.1%
32 MIAMI LAKES
3,767,371,566
4,108,521,733
9.1%
22,519,480
4,131,041,213
9.7%
33 PALMETTO BAY
3,366,980,359
3,701,184,298
9.9%
13,189,752
3,714,374,050
10.3%
34 MIAMI GARDENS
5,723,170,495
6,489,551,338
13.4%
379,404,835
6,868,956,173
20.0%
35 DORAL
14,891,126,546
16,226,058,578
9.0%
383,322,371
16,609,380,949
11.5%
36 CUTLER BAY
2,916,183,965
3,252,128,259
11.5%
9,675,798
3,261,804,057
11.9%
COUNTY -WIDE
337,968,694,350
372,037,202,426
10.1%
5,860,193,618
377,897,396,044
11.8%
FIRE AND RESCUE
190,417,305,982
210,318,560,406
10.5%
2,846,399,204
213,164,959,610
11.9%
LIBRARY
303,257,169,998
333,298,790,729
9.9%
5,328,326,068
338,627,116,797
11.7%
SCHOOL BOARD
366,114,505,026
422,969,523,452
15.5%
5,867,480,887
428,837,004,339
17.1%
S FL WATER MNGT DIST
340,060,434,617
374,065,660,186
10.0%
5,867,471,779
379,933,131,965
11.7%
FL INLAND NAV DIST
340,060,434,617
374,065,660,186
10.0%
5,867,471,779
379,933,131,965
11.7%
THE CHILDREN'S TRUST
340,060,434,617
374,065,660,186
10.0%
5,867,471,779
379,933,131,965
11.7%
June 29, 2022
The Honorable Gabriel Groisman, Mayor
Bal Harbour Village
655 - 96th Street
Bal Harbour, FL 33154
MIAMI-DADE COUNTY
PROPERTY APPRAISER
ADMINISTRATION DIVISION
PEDRO J. GARCIA
PROPERTY APPRAISER
RE: FINAL 2021 TAX ROLL VALUE
Dear Mayor Groisman:
The Value Adjustment Board has completed hearings on the 2021 tax rolls and the final
valuations are submitted below for Bal Harbour Village:
Real Estate $5,104,314,175
Personal Property $ 68,456,720
If you have questions or need clarification, please call my office at 305-375-4004.
Sincerely,
Pedro J. a cia
Property Appraiser, MNAA
cc: Jorge M. Gonzalez, Village Manager
Claudia Dixon, CFO
111 NW 157 STREET, SUITE 710 • MIAMI, FLORIDA • 33128
PHONE: 305-375-4712 • FAX: 305-375-3024
WEB SITE: $RAW MIAMIDADE.G.4EL A