Miami Gardens, Florida Development News

Miami Gardens Officials Present FY2027 Budget Amidst Property Tax Uncertainty

The City of Miami Gardens is presenting its preliminary budget for Fiscal Year 2027, anticipating a 'tale of two budgets' due to potential state legislation impacting property taxes. The preliminary property tax value is projected at $10.1 billion, an increase of $482 million, which could generate an additional $3.2 million in revenue. The proposed millage rate remains 6.9363 mills for operating and 0.4137 mills for debt service. The budget accounts for a new FOP contract, a significant increase in health insurance premiums, and an increase in the transfer to the CRA. However, a proposed ballot amendment could eliminate property taxes, significantly reducing the general fund revenue and necessitating budget adjustments. In response, the city has implemented a hiring freeze and is reviewing fee structures to optimize revenue, while also reducing special events to avoid furloughs or layoffs. The budget hearings are scheduled for September 9th and 23rd.