What will it cost?

On November 6, 2018, Doral voters will have the opportunity to vote on a General Obligation Parks Bond for $150 million that would help fund the construction of future Doral park projects. This bond will help provide the residents of Doral with access to numerous new recreation and leisure opportunities city-wide, and it is estimated that a 30 Year, $150 Million Bond could cost the typical household an average of $131-$139 per year in additional property taxes.*

*This was based off Miami Dade County’s 2018 assessment of the median homestead Doral residential taxable value of $193,121

It is important to note that there are two (2) key variables that will affect the final amount each household will contribute to the bond over its duration, which include the final interest rate (secured at bond issuance), and the point in the bond lifecycle.

Interest Rate

Our Household Impact Calculator (below and on the City’s website) uses an estimated interest rate of 4.75%, when in reality this number could be lower or higher depending on when the bond is issued. For example, the current interest rate, as of October 1, 2018, is 3.75%. The final interest rate will only be locked down after the bond is approved by voters.

Bond LIfecycle

Our Household Impact Calculator averages the potential financial contribution of each household based on its taxable value. The resulting annual impact amount is an estimated annual average per year across the 30-year bond duration. In reality, the amount that each household will contribute towards the bond will fluctuate across the lifecycle of the bond based on how and when bond funds are issued. For example, the annual impact for each household will likely be lower in years 2020-2023 ($49-$99) and years 2050-2052 ($101-$51) when compared to years 2024-2049.

20181003_ImpactChart.png

What will the Impact be to My Household?

To find out what impact this proposed bond will have on your household on average, per year, follow these steps:

TaxbleValueScreenshot-REV-01.png

Step 1: Go to the Miami-Dade County Property Appraiser’s website (click link) and enter your Doral home address.  

Step 2: Under the Taxable Value Information section for your property, find the "City Taxable Value” amount

Please note that the "City Taxable Value" of your home is likely different (lower) than the market value of your home (what someone would pay for it on the open market).  

Step 3: Enter the “City Taxable Value” of your home in the calculator below and click on the “Calculate Annual Impact” button.   

Once the appropriate information is entered, the calculator will tell you tell you the approximate impact of the proposed bond on your household (not per individual resident) on a per calendar year, per month, and per week basis.

Enter your City taxable value
$



Annual Impact $
Monthly Impact $
Weekly Impact $

Follow the link below to the City’s official calculator to see how much you’ll be paying:

 

Bond Funds Distributed by Amenity Type:

20180718_BondCostCharts_3.png
 

Bond Funds Distributed by Project Category:

20180718_BondCostCharts2.png