Commercial property owners in Miami-Dade County may have received good news last week. The “flat tax” that was recently approved by the county’s tax commissioners is now being figured into the property tax calculator.

According to a representative from the property appraiser’s office, the flat tax will replace the rolled-back rate, and should result in lower property taxes for most property owners in Miami-Dade County. The new tax rates will be reflected in 2009 tax bills.

The beneficiaries of the new tax rate will not end with commercial property owners. Some homeowners will be affected as well. Although most homeowners will witness lower taxes, others, particularly those that have previously benefited from the tax cap associated with homestead exemption, may see an increase of approximately one percent in their property taxes.

Not everyone is thrilled about the new flat tax rate. Opponents contend that the new rate will only help property owners if the commercial and residential properties have been correctly appraised.

To ease some of the property owners’ concerns, the City of Miami commissioners voted to place a cap on the flat tax and to leave the millage rate unchanged. However, it is expected the latter will result in budget cuts of over $115 million, which may result in job cuts for county and city workers.

According to commission Chairman Joe Sanchez, unions will be expected to make sacrifices to prevent job layoffs. During an interview, Mr. Sanchez stated “Our unions have the ability to step up to the plate and share the sacrifice, so we don’t have to lay off employees.”

If you are a home or commercial property owner in Miami-Dade County and you need help estimating your property taxes, you can use the property tax calculator found on the county appraiser’s website.