Real Estate Market Trends in Miami Springs
According to the latest Zillow Real Estate Market Reports, home values in Miami Springs decreased 20.90% in the second quarter of 2008, compared to the second quarter of 2007. Nationally, home values have decreased 9.9% during this same period.
Home values have dropped almost 21 % in ONE year. If the home values have dropped that much how much do you think the taxes on those properties have dropped? 21% ?
That means the revenues from property taxes to the City are down the same amount. The City Council's answer to 21 % less revenues and a deficit for the whole year?
Add MILLIONS of dollars in new debt! We are projected to have at least a 1.5 million dollar deficit next year! They have already raided the Reserve Fund for 500k and will do it again and again until it is gone. Then they will raise our taxes to cover for their colossal stupidities. Adding MILLIONS more in debt for the residents to pay off when we cant even pay our bills NOW????
The USA is IN a recession. Times are tough and people are losing their jobs and their houses. Our City officials respond to this recession by taking on millions more in debt BUT giving us 3 more garage sales somehow evens it out??? Absurd. The couple hundred bucks that we may make on those garage sales may fill our gas tanks for a couple weeks or feed us, but probably not both. The crushing debts the Council has dropped on us will be a heavy burden for DECADES. The Council doesnt care, THAT much is clear. Their legacies are seemingly more important than the fiscal pain and suffering they are inflicting on us now, and for the next twenty years! We CANNOT allow that to happen!
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