South Florida’s Proposed Property Taxes – Know your numbers
Bottom Line: By now you’ve either received your proposed property tax assessments or you’re about to. Every year I encourage you to look at what you’re paying for and to know your numbers. After all, every line on your property tax bill represents money, that if not paid – will result in that taxing authority taking away your home. While this is important every year, these are unprecedented times in which many South Florida families have been compromised by the decisions of some of those taxing authorities during the pandemic. None the least of which are our local school districts. I’ve heard from numerous families that are struggling financially due to the pandemic and yet are being denied the ability to earn money due to having to essentially home school their kids. As you received your bill here’s an idea of what to expect. Here are the property tax assessment increases in South Florida:
- Broward: +8.8%
- Miami-Dade: +5.1%
- PBC: +5.9%
That’s the average proposed increase non-homesteaded properties are facing this year. For those who have homesteaded property, the rate is capped by the CPI, or Consumer Price Index, which is 2.3% this year. That's the likely rate of increase you’ll see in your bill. As a reminder these assessments are based on property values as of January 1st. With unemployment over 10% in Florida currently, these increases are that much more challenging for millions to account for this year. Additionally, for many businesses who’ve been ordered to shut down, imagine how difficult it would be to pay the full non-homesteaded increases while also having significant lost income.
As you’re looking at each of the lines consider the impact of each agency to you and to your neighbors. Do you approve of how each of those taxing authorities are conducting themselves? Do you approve of neighbors and businesses owners losing their property to those taxing authorities if they can’t afford to pay the property tax bill? You’re liable to be surprised by how many tax the roof over your head. For example, there are 16 assessed taxes in my district.
Inform yourself and inform others. Right now, during a time of adversity for many, is a teachable moment about the importance of providing the lowest possible property tax burden for South Floridians - lest we tax people out of homes and businesses unnecessarily. It’s ironic that the single biggest expense on all of our property tax bills – public schools – are currently not offering the services (classroom education) paid for with these taxes. The more you know.