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State Of The Sunshine Economy

Junette Reyes
/
WLRN

    

To get a sense of the economy, look at the the data showing falling unemployment rates over the past year and rising home prices.

Or, you can listen to the voices of some of those looking to begin their careers soon, posted below.

Ashley-Nicole Kennedy is a resident of Cutler Bay. Kennedy is a student at Florida International University.

Julien Entezari is a resident of Hollywood. Entezari helps advocate for human-rights campaigns.

Mariana Morell is a resident of Sweetwater. Morell was the president of the Florida Student Justice Alliance chapter at Florida International University.

Rafael Sanchez is a resident of Miami. Sanchez is a graduate student at Carlos Albizu University.

Property Values Up, Fight over Tax Collection Delay

By most measuring sticks, the economy is improving. Job growth and rising property values are adding dollars to government budgets.

Miami-Dade County Mayor Carlos Giménez's budget plans expect property values to rise 5.5 percent. Fort Lauderdale Mayor Jack Seiler's budget planning anticipates a 3 to 3.5 percent increase in property values in his city. Both acknowledge the rebound in property values is higher, though their early revenue increase forecasts are more modest.

The expected jump in government revenues, at least in Dade County, comes as Miami-Dade County Public Schools is increasing pressure over what it contents is the slow collection of millions of dollars of property taxes.

The tension led to the school board this month to "seek legal action as appropriate" as it looks to collect $40 million it estimates in lost tax revenue.

Property owners are allowed to appeal their tax valuations to the Value Adjustment Board (VAB). Due to the Great Recession and falling property values, the number of property tax appeals heard by Miami-Dade County shot up.

The appeals process delayed and reduced the money received by government agencies in line for those property tax payments. As Mayor Giménez said, "It was all the municipalities in Miami-Dade County that got hit. Miami-Dade County got hit and so did the school board. Miami-Dade County took care of the problem."

"This is not a function of who manages a budget better," said Miami-Dade Superintendent Alberto Carvalho. He points out his agency is under a constitutional requirement to provide a level of service. "Educational services, educational opportunities and teacher salaries are vulnerable in Miami-Dade compared to other parts of the state."

Slow, But Picking Up?

Florida's economy began showing signs of stress well before the rest of the country started sliding in 2007. The state's unemployment rate shot up faster and higher than the national jobs crisis grew. The recession was deeper and longer for parts of Florida. And it's taken more time for some places in the Sunshine State to rebound. 

Unemployment in Miami-Dade County, at 6.9 percent, remains well above the rate in neighboring counties. Broward's unemployment rate dropped to 4.5 percent in December. It was 4.8 percent in Palm Beach County.

Miami's job market had been hurt by construction slow to return, however, the building industry has been improving leading to substantial job growth in recent months.

The above graph may appear to be an encouraging trend for wages in South Florida, but the chart does not control for the impact of inflation. When the wages of the past decade are translated into 2014 dollars, here's the wage picture:

Tom Hudson is WLRN's Senior Economics Editor and Special Correspondent.
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