REPORT REVEALS COUNTY’S TAX COLLECTION SHORTFALLS IMPACTED COMMUNITY: THOUSANDS OF JOBS LOST

A new report by a respected national economics group reveals that 5,430 Miami-Dade jobs were lost between 2007 and 2012 because of uncollected property taxes.  The funding shortfall also resulted in a reduction of $302 million in household income in Miami-Dade County.

The Washington Economics Group, Inc. in a report titled, “The Economic Impacts of the School District Funding Shortfall on Miami-Dade County, the Miami-Dade County Economy and the Florida Economy,” revealed that Miami-Dade County suffered an economic impact of $533 million because of shortfalls in collected taxes from 2007 to 2012.

As a result of this ongoing revenue shortfall, Miami-Dade County Public Schools (M-DCPS) has not received the education funding appropriated by the Florida Legislature, negatively impacting Miami-Dade’s educational programs, while creating undue hardship for the children, teachers, and the citizens of Miami-Dade County.

“The Washington Economics Group report clearly shows the tragic impact this ongoing property tax collection shortfall has on the community and on our public education. It is imperative that a solution to fix this shortfall be found quickly,” said Judith M. Marte, Chief Financial Officer, M-DCPS.

The report recognizes the positive economic impact of M-DCPS, the nation’s fourth largest school district, on both the county and state. The school district accounts for 61,000 jobs in the county (65,000 jobs state-wide) and generates $3.5 billion in household income in the county ($3.7 billion statewide).
                                                                                                    
The report – originally commissioned by former M-DCPS CFO Dr. Richard Hinds – is part of a multi-faceted strategy which includes an audit of the Value Adjustment Board and review of legal action.

Fact Sheet
Economic Impact Study
Executive Summary

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14-DGD/171/JJS

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