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Financial Overview

The Town of Miami Lakes is in excellent financial condition, as recognized by Moody’s and Fitch, with an AA+ rating for the Town’s bond issue. The Town also maintains one of the lowest tax rates in Miami-Dade County, ranking 5th amongst all of the cities in Miami-Dade County in the millage rate they impose on property values, which is the main source of funding for local governments. In 2011, the Town distributed $525,000 of unspent funds from the prior fiscal year which translated into a $75.00 dividend to all homestead exempt Town residents. The Town is one of few local governments in the County that has ever returned monies to its residents.