The Miami Springs City Council finalized the annual budget at Monday’s City Council Meeting. The millage rate is currently at 7.35 and it will be reduced to 7.33 for the upcoming year. That’s a decrease of 3/10ths of one percent.
Don’t expect that to translate into paying less taxes if your property’s value has increased by more than 3/10ths of one percent. (In case you’re wondering, property values have been going up.)
We don’t have the new adopted millage rates for all the other Miami-Dade County municipalities, but we can compare the new 7.33 Miami Springs millage rate to the proposed millage rates from the other municipalities.
- Miami Springs 2019 Adopted Millage Rate: 7.33
- Doral 2019 Proposed Rate: 1.90
- Virginia Gardens 2019 Proposed Rate: 5.10
- Coral Gables 2019 Proposed Rate: 5.5590
- Medley 2019 Proposed Rate: 5.8075
- Hialeah’s Proposed 2019 Rate: 6.3018
- Miami 2019 Proposed Rate: 7.5665
For most people it’s not a surprise that Miami Springs has one of the higher tax rates in the county.
If it makes you feel any better, here are a few municipalities with a higher proposed rate than ours:
- Golden Beach: 7.578
- El Portal: 8.30
- Biscayne Park: 9.70
- Miami Shores: 7.90
- Opa-Locka: 9.80
The lowest proposed tax rates in the county are as follows:
- Aventura: 1.7261
- Doral: 1.90
- Bal Harbour: 1.9654
One more thing to highlight is the proposed tax rate for unincorporated Miami-Dade County is at 1.9283. That’s the tax rate paid by businesses in the proposed annexation area along 72nd Avenue. As you might imagine, the businesses there are not excited about seeing their taxes increase from a sub 2.0 millage rate to a millage rate that is more than 3 times greater.