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Miami Gardens previews FY2027 as a “tale of two budgets,” cites $10.1B taxable value
Summary
Deputy City Manager Craig Clay told the council the preliminary taxable value is about $10.1 billion and proposed keeping the operating millage at 6.9363 mills while planning cuts to prepare for a possible homestead-exemption ballot measure.
Deputy City Manager Craig Clay presented a FY2027 budget preview to the Miami Gardens City Council on the city’s financial outlook, calling it “a tale of 2 budgets.” He reported the city’s preliminary taxable property value is about $10,100,000,000, an approximate $482,000,000 increase over the prior year, which would generate roughly $3,200,000 in additional revenue if no other statewide changes occur in November.
Clay said the city proposes to hold the operating millage at 6.9363 mills—the same rate used for 14 years—and keep a debt-service millage of 0.4137 mills to cover general-obligation bond payments (about 41¢ per $1,000 of taxable value). He told the council the average homesteaded taxable value in Miami Gardens is about $131,000 and, "if nothing were to happen in November, the average homeowner would pay an additional $5.50 per month or about $66 per year."
