How low can you go!

According to Wednesdays (June 2,2010) Miami Herald written by Matthew Haggman, property values are declining for the third year in a row. Miami Dade values fell 13.4 percent compared to last year. Yikes! This drop is the biggest since the real estate market took a dive. Why is this so terrible you ask… taxes will go down, great! Well yes and no. Your taxes go down but so do a lot of services because cities and counties get a chunk of their revenue from property taxes.  Cities all over are going to wonder, do we increase property owners tax rate or reduce services? Its a big dilema for many cities. And get this, while cities are struggling and wondering what to do, the  Miami Dade County Mayor (Carlos Alvarez), the City Manager, and the Commissioners are driving luxury cars and receiving free gas, insurance, and maintenance. The mayor said he would eliminate the car perk , only if other elected leaders did too. Hey buddy, how about setting an example? Thats what I call chutzpah!

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