Coral Gables Budget: Tax Time Again
July 26, 2010 1 Comment
The new budget requires another increase in taxes. Be cognizant that the increase is truly what economists call “real” increases because there is no inflation–these increases, however small or large, are real dollars coming out of your pocket.
Last year’s tax rate was 5.895 per thousand of property values. The so-called rolled-back rate is 6.189. This is the rate that keeps the city’s property tax revenues the same as last year–in essence the concern is with the “well being” of the city rather that the impact on the citizen. [Maybe we should call the rate a “rolled-forward rate” since it is higher than the last rate].
The Budget estimate requires a tax rate of 6.072 millage rate. This is the rate that a simple majority of the Commissioners can approve, without the usual recent past dissenters of Messrs. Cabrera and Kerdyk, who might certainly force the lower so-called TRIM rate of 6.072 or a 3% increase assuming that one’s property value is the same as last year. Let’s see what happens in coming weeks, but certainly the plan is for everyone to pay more taxes here in Coral Gables and in Miami-Dade county.