HomeMy WebLinkAboutSubmittalJohn Talamas
522 San Esteban Ay
Coral Gables, FI. 33146
September 8, 2005
Dear Commissioner Jeffery Allen:
In the past few years following the stock market crash property values have increased
by 30 to 40 percent per year in some areas as investors look for a safe place to invest
their money.
This has no doubt been a great boom to the County and the various municipalities,
especially since the mileage rates / 1000 have virtually remained unchanged.
There is a pseudo real estate economy out there unrelated to job growth and income to
substantiate these investments. It is primarily related to speculative developers,
investors and flippers supported by exotic loan practices that meet affordable monthly
payments. As Mr. Greenspan calls it a "conundrum". Or I like to think of his old phrase
"Irrational Exuberance" except for the real estate market.
This phenomenon occurring here in Dade County is creating higher taxable values of
properties unprotected by amendment 10 and a mileage rate that is in great need of a
downward adjustment.
This is causing a tremendous hardship to property owners and tenants. I realize the
County and municipalities have annual cost increases such as guaranteed pension funds
and rising health care insurance, but so do we except that we have added to that soaring
property taxes with less services, property insurance with less coverage and non
guaranteed pensions lost in the stock market crash .
Residential tenants cannot simply ask for a salary increase nor can a retail tenant raise
his prices 30% to 40 % each year. They have a market place to contend with while
government simply tacks on to the taxpayers.
In the past I have heard government officials blame the rising tax bills to the county
because they are the ones who assess the property values. Well, fine this is true, but it
is high time that we look very close at our budget and continue to cut unnecessary
spending and give the taxpayer a break by lowering the mileage as much as we can.
Please, and I beg you don't insult us with a 3cents/1000 reduction as you did last year.
SUBMITTED INTO THE
PUBLIC RECORD FOR
OS-0094baITEM r3-112 ON q-s-oc.
Many officials have said, well you now have an opportunity to sell and make a bundle
of money. Please, for years in good times & bad times this is what we do for a living
and want to continue as there is a great need for affordable retail space and residential
rentals to sort this community. Not everyone can afford to buy or even qualify to buy.
A substantial reduction in the mileage rate is greatly needed for every taxpayer in this
county facing runaway property values. There are many areas of the budget including
public school waste, guaranteed health care and guaranteed pension funds that are
becoming non existent in the private and corporate sector. These are challenges we face
everyday while public employees take it for granted. I ask every taxpayer to take a
close look at how your commissioner votes on this matter and let them know how you
feel the next time at the polls.
Sincerely yours,
John Talamas
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