The Miami Herald Can’t Calculate

This is a gross mistake by reporter Elaine de Valle of the Miami Herald. A rate of 5.995 mentioned by the Mayor represents a 14% increase over 2008-2009 rate of 5.25. Even if the commission settles on a 5.75 rate that would be close to a 10% percent increase. That is a full real rate increase since there is has been no inflation this year.

He said he believes the tax rate will go down Tuesday when the city commission votes at its final budget hearing. Earlier this month, commissioners adopted a preliminary 5.995 tax rate, an 8.27 increase over the previous year’s rate.

The higher rate reflects the city’s lower property values and higher costs.

Mr. Slesnick refers to a tax rate decrease when it is really a 14% or 10% increase! How curious.  This sounds like misinformation to confuse Coral Gables residents who will certainly discover the truth when they get their final property tax bills.

About Stephen E. McGaughey
International consultant in economic development programs and projects

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