The Taxable Value For Properties Keeps Raising


The estimated increase to property taxes in Doral is 3.9%, due mainly to the number of new housing, as it has been happening in previous years.


By: Edda Pujadas

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DORAL, FL –  A new taxable value for the properties in Miami Dade County is expected for 2019, as indicated by the Preliminary Certification of Taxable Values that was published by the Property Appraiser Office. This information is released in order to allow the taxing authorities of each municipality to prepare their budgets and to calculate their suggested mileage rates.

According to the July 2019 report that was released by the Property Appraiser Pedro J. Garcia, the countywide taxable value for 2019 is $308,641,457,718 which represents an increase of 6.4% from 2018 and a growth of over $18 billion.  The good news is that this increase was smaller than the one that we had between 2017 and 2018 where the variation was for 6.5%.

This estimation also indicates that the new constructions are dominating the real estate business in Miami Dade, with more than $7,000,000,000 of the taxable added value in the county in this year. Miami and Sunny Isles Beach are leaders in this sector, with $3,200,000,000 and $918,000,000 respectively.

At the same time, the market is slowing down in existing properties. In cities like Key Biscayne and Sunny Isles Beach, this also has an impact on the valuation for 2019. In fact, in some cases, the value of new constructions helped compensate the global reduction of existing properties in Aventura and Sunny Isles Beach, for instance.

Pedro Garcia, Property Appraiser of Miami Dade County, stated that the real estate market is still growing in general terms but at a different rhythm than in previous years. “We are now seeing a moderate growth tendency, which is different from the real estate bubble from 2000, but still the new construction played an important role in the taxable value in general for the municipalities.”

When specifically referencing the City of Doral, the Property Appraiser indicated that the percentage increase, in this case, is estimated at 3.9% placing the taxable value from $13,185,785,200 in 2018 to $13,700,000,000 in 2019. When comparing with the rest of the cities we see that the only municipalities that experienced a decrease were Bal Harbor with a -0.1% decrease and Virginia Gardens with a -0.2% decrease.

The cities that experienced a smaller increase than Doral were Miami Beach (3.0%), Miami Springs (3.9%), Surfside (1%), West Miami (3.6%), Golden Beach (3%), N. Bay Village (0.9%) and Aventura (3.6%). On the contrary, it is striking that the City of Opa-Locka leads this list with a 30.1% increase from the figures of 2018.

This preliminary certification of taxable values is very important, because it allows the taxing authorities, such as Miami Dade County government, municipal governments, the School Board and The Children’s Trust to work on their fiscal budgets for the 2019-2020 period and adopt their own proposed millage rates, all of which will appear on the Notice of Proposed Property Taxes or TRIM.  Property taxes are calculated by using the taxable value of the property and the mileage rate, therefore, if several taxing authorities reduce their mileage rates in proportion to the taxable value, the homeowners will not see an increase in their property taxes.

In reality, the “city mileage rate” is the only component on the mileage rate that is actually determined by the municipalities, and in Doral, there have always been decreases in this mileage rate. In regard to the gross taxable value for operative purposes that is comprised by properties such as family homes, condominiums, multifamily homes, commercial and industrial properties, agricultural properties, vacant land, institutional and governmental properties, and other type of personal and real estate property, there has always been evident increases marked by new construction.

The Taxable Value For Properties Keeps Raising

Section 200.065 of the Florida Statutes indicates that 35 days after receiving this notification, the municipality must provide the Property Appraiser’s Office with the proposed millage rate, together with the dates in which the public hearings to consider this tentative rate, the provisional budget, the final calculation rate, and the final budget, will take place.

These preliminary calculations are the ones that allow for the creation of the Notice of Proposed Property Taxes (TRIM), that will be sent out to the homeowners in late August of 2019. The Property Appraiser Office invites you to read in detail your TRIM notice because even when the note clearly indicates that this is not an invoice, it provides you with your proposed property taxes, a figure that must probably appear in your November 2019 Property Tax invoice.

The TRIM notice contains very important information related to your property taxes in the following categories: taxing authorities, Ad Valorem taxes (proposed taxes based on your property value), and Non-Ad Valorem taxes (proposed taxes for services such as garbage collection, fire department, and lighting).

A piece of important advice indicated in the TRIM is that the Property Appraiser does not establish tax rates, nor it charges taxes, for this reason, all questions related to taxes must be directed to the Tax Authority that is noted in your specific notice.

Individual property assessments are available also on the website for the Property Appraiser’s Office. You can also visit these offices at 111 NW 1st Street, 7th floor in Downtown Miami or at the South Dade Government Center located at 10710 SW 211th Street, 2nd floor or contact them at 305.375.4712.


The Taxable Value For Properties Keeps Raising



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