Property Tax Cuts and Critical Housing Investments Proposed in Miami-Dade Budget for 2022-2023
Miami-Dade County Mayor Daniella Levine Cava presented her proposed county budget for Fiscal Year 2022-2023 Friday, which provides the first property tax break in ten years – a 1% reduction that will apply to all four taxing districts: countywide, UMSA, library, and fire rescue.
In the second budget of her administration, Mayor Levine Cava is taking a broad-picture approach – balancing short and long-term challenges by both providing immediate relief to residents struggling with rising costs and investing critical funds in solutions to the housing crisis.
“To truly sustain economic growth and ensure Miami-Dade is a place where all residents can continue to live, work, and thrive, it’s critical that we invest all available resources in tackling this crisis head-on,” said Mayor Levine Cava in a memo addressed to the Board of County Commissioners. “As we look to the budget year ahead, we owe it to residents struggling with the rising costs of living to provide immediate relief. I’m proud that my administration has put forward a balanced, fiscally responsible, compassionate budget proposal for FY22-23 that will cut property tax rates for property owners; maintain critical services to our residents; and make strategic investments in housing affordability – providing relief and making housing more affordable for those who need it most – along with investments in public safety, transit, the environment, and more.”
Despite the tax cut, Mayor Levine Cava’s budget will safeguard fiscal stability and maintain critical services such as public safety and crime prevention, as well as funding for targeted programs that will directly tackle the rising costs of housing.
In total, the proposed budget invests over $500 million towards the retention and expansion of affordable housing – a historic number for Miami-Dade County.
Key housing investments include:
-Expanding proven successful programs that are already providing relief to renters and homeowners, such as the Emergency Rental Assistance Program (ERAP)
-Increasing the supply of housing that people can afford
-Funding homeownership programs
-Funding the Building Blocks Workforce Incentive Program to incentivize owners to convert existing housing into affordable or workforce units.
“This budget proposal offers immediate relief and takes on the most urgent crisis facing our residents – housing – while also safeguarding our county’s budget for the future, so we can continue to deliver critical public safety and other services like police and fire rescue that our vibrant, growing community relies on,” concluded Mayor Levine Cava.
The proposed budget and more information about Mayor Levine Cava’s Budget Town Halls can be found online at miamidade.gov/budget.