The Miami City Commission will hold the first of two budget hearings on Saturday September 13 at City Hall starting at 10 a.m.
City Manager Art Noriega has proposed an annual budget that leaves the city’s property tax rate unchanged from last year (at $7.39 for every $1,000 of taxable value).
Homeowners are still likely to pay more in taxes, however, because of rising real estate values.
The manager is not proposing that the city adopt the ”rolled-back” tax rate of $6.60 this year (the rate that would produce the same amount of tax revenue as last year, but with a larger tax base).
The manager’s proposed operating budget of $1.2 billion includes $650 million in property tax revenue (53% of the total).
On the expense side, the city expects to employ 4,805 people next year (95 more than this year) at a cost of $946 million. For a closer look at the manager’s proposed budget, follow this link.
