ond straight tax rate cut

Miami Beach property owners will pay a lower tax rate for the second year in a row after the City Commission approved a $961.3 million budget for fiscal 2027.

The commission finalized the spending plan at its budget hearing Wednesday, setting the total combined millage rate at 6.0753 mills. That is down from 6.1339 mills in fiscal 2026, which itself was a reduction from 6.1481 mills in fiscal 2025, according to the city's millage memorandum.

Mayor Steven Meiner said the operating millage of 5.6012 mills is the lowest the city has set in 11 years. He framed the budget as proof the city can cut taxes and expand services at the same time.

"We did all this while increasing essential services, cutting $7 million from the General Fund, and adding about $1 million to reserves," Meiner said Tuesday in a post on X, the day before the final vote.

What the new rate means for homeowners

For a median homesteaded property valued at $315,127, the city's share of the tax bill will rise about $33 under the new rate, according to city estimates. An average homesteaded property, valued at $928,891, would see an increase of about $95. Those increases reflect rising assessed values under the Save Our Homes cap, not a higher rate.

The city's portion accounts for about 32.5% of a Miami Beach property owner's total ad valorem tax bill. Miami-Dade County, the school board, The Children's Trust and other taxing authorities collect the rest.

Budget grows $50.4 million despite rate cut

Even with the rate cut, the fiscal 2027 operating budget grew $50.4 million, or 5.5%, over the fiscal 2026 budget of $910.8 million, according to the city's budget memorandum. The general fund rose 7% to $516.1 million, fueled in part by a 3.5% increase in citywide taxable property values to $62.4 billion, as certified by the Miami-Dade County Property Appraiser on July 1.

Property taxes will generate about $307.9 million for the general fund, up $9 million from the prior year.

The budget adds 29 lifeguard positions, 14 firefighter slots for fireboat staffing, six park ranger positions and several police positions that had initially been proposed as reductions. The administration also identified $7.3 million in recurring general fund spending cuts and efficiencies.

One-time spending items include $200,000 for crosswalk maintenance and installation in North Beach, a $25,000 League Against Cancer mobile mammogram screening grant and $25,000 for a youth flag football program.

New state law required two-thirds vote

Florida's new Truth-in-Millage law, signed into law June 24 as Senate Bill 4-F, required a two-thirds vote of the seven-member commission to adopt the fiscal 2027 rate. All seven commissioners were present at the hearing: Meiner, Vice Mayor Alex Fernandez and Commissioners Tanya K. Bhatt, Laura Dominguez, Joseph Magazine, Monica Matteo-Salinas and David Suarez. The exact vote tally has not been published in available city records.

The new fiscal year begins Oct. 1.