We reported earlier this month that the Council had voted 3-2 to raise the millage rate by 1%. However, before that’s officially approved, the Council has to pass a 2nd vote also known as the second reading. This allows residents an opportunity to respond to the City Council. It also allows the City Council an opportunity to gain further information from residents and the administration.
Well, after further review, the Miami Springs City Council unanimously agreed to keep the millage rate flat at the second reading this week. That means there will NOT be an increase in the millage rate. The millage rate will not go up to 6.9900. The millage rate will remain at 6.9100.
The biggest concern facing the upcoming tax year is that the City is dipping into its financial reserves in order to provide several wish list items. To put it plainly, the City of Miami Springs is spending more money than what’s coming in.
Among the items that have increased the budget is a 4% COLA or Cost of Living Adjustment for all City of Miami Springs employees.
For those that believe the rumors that Miami Springs is cutting the police budget, the approved budget also included money to hire an additional police officer for the next year. Any report that Miami Springs is defunding the Police is just pure B.S.
Bottom line: The Miami Springs employees will see a 4% salary increase. The Police Department will add an additional officer. The tax rate will remain flat for property owners for the upcoming year.
How long will the party last?
You can only spend more than what’s coming in for so long. While the City’s reserves will provide a buffer for the upcoming tax year, that option may not be available for the following year. Without a new source of revenue, the City of Miami Springs will be faced with either dramatically reducing expenses or increasing taxes.
To be clear, our millage rate will remain flat at 6.9100 for the upcoming tax year. Let’s see what the new City Manager and the new Finance Director can do as they get a full year on duty to prepare for the next tax year.
