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The Miami-Dade County taxing authorities have submitted their respective proposed millage rates to Miami-Dade County Property Appraiser Pedro J. Garcia. The millage rate is the rate of taxation for every $1,000 of a property’s taxable value. These property taxes fund local taxing authorities.
Last month, Property Appraiser Garcia released the 2022 Preliminary Certification of Taxable Values to the taxing authorities, which peaked at an all-time high of $377 billion, an 11.8 percent increase when compared to 2021 taxable values. He expressed concern to the county and cities, urging them to reduce their millage rates by 3 percent to lower property taxes for homeowners and businesses, in addition to assisting renters who may be experiencing high rental increases.
The assessment limitations for homestead exempted properties will increase by 3 percent of the assessed value this year as a result of a 7 percent increase in the Consumer Price Index (CPI). A 3 percent decrease of the millage rate will offset the increase in the assessed value, avoiding a tax increase for these homeowners. The recommended 3 percent reduction by Property Appraiser Garcia would provide tax relief to over 439,000 homestead property owners, who would see an increase in their taxes if their overall millage rate were not reduced by 3 percent.
Most of the taxing authorities reduced their 2022 proposed millage rates. However, several cities chose to increase or keep a flat rate while considering a reduction during the upcoming budget hearings scheduled for September.
“I am grateful to those taxing authorities that have reduced their millage rates to support our community during these difficult times. I continue to urge cities unwilling to reduce their millage rates to do what they can to provide property tax relief for all property owners in Miami-Dade County,” says Property Appraiser Garcia.
Property Appraiser Garcia encourages property owners to review their individual property values and tax exemption benefits online at www.miamidade.gov/pa/. Business hours are 8 a.m. to 5 p.m. Monday through Friday. Property owners may also call 305-375-4712.
