According to Insurify.com, property insurance premiums have risen dramatically across the country in recent years, due to inflation, record-high home market values, increased cost of building.  But perhaps there is a more significant issue for the Florida Keys. Throughout Florida, dramatic  increases in average premiums are largely due to natural disasters!

Here are the 5 most expensive states for home insurance premiums and how much homeowners pay per month for $300,000 in dwelling coverage:

• Florida: $916/mo

• Louisiana: $530/mo

• Oklahoma: $454/mo

• Texas: $371/mo

• Mississippi: $359/mo

Note that 4 of the 5 are on the Gulf Coast.  Oklahoma - tornado alley.  

Now think about workforce housing.  To cover the cost of property insurance, property taxes, and debt payments, how is workforce housing even possible without subsidies? An Islamorada home with $300,000 of taxable value would be charged $2,661/year in taxes based on current year’s millage.  

Some of the many reasons why the Village of Islamorada needs to be part of the Florida Department of Government Efficiency program:

Islamorada Financial Task Force Meeting: Last Thursday a task force, appointed by Village Manager Ron Saunders presented their findings. The group was formed to study our Village financial documents and make recommendations regarding our expenditures and budget process. 

All five members of the committee did a thorough and commendable job finding areas in the Village budget process that they questioned and voiced significant concerns.

The Task Force also provided important recommendations.

The committee: Dr. Larry Dalton, Joe Jiovenetta, Elizabeth Jolin, Joseph Roth, Stephanie Scuderi

Some of their primary concerns:

1. Number of full-time employees (Editor’s note: if some of these positions are contracted out we avoid costly benefits entitlements)

2. High cost of employee benefits (described by member Dalton as “gold plated Rolls Royce” type benefits)

3. The need for a grant writer

4. Performance-based raises instead of across the board raises.

5. High cost of legal services.

6. Improving the compilation and vetting of the budget

A majority of the committee seemed emphatic in their call for REDUCED SPENDING and increasing the DISASTER RECOVERY RESERVES, fearing the possibility of reduced FEMA assistance after a storm.

We thank the Task Force for a job well done!

Monroe County Budget Meetingshould serve as a model on how this

important fiscal process should be conducted: On July 15, Monroe County met in a 4-hour special call budget meeting to adopt their “maximum” millage rate for August TRIM notices to be mailed by August 24 by the Monroe County Property Appraiser to all property owners.

Before setting the millage rate, the county discussed in detail the draft budget for the coming year. They approved a very modest increase over the current year’s adopted millage, largely to begin increasing disaster recovery reserves from the County’s current $10 million, up to an eventual $40 million, because of concern that state and federal disaster assistance may be reduced.

Congratulations County and County Administrator, Christine Hurley and staff. We hope Islamorada follows your example. Professionally done.

Islamorada Council Scheduled Millage Approval: Tuesday July 22, during a regular monthly Village Council meeting with numerous reports and TWENTY OTHER AGENDA ITEMS! 

The critical vote to approve the millage rate to be used for TRIM notices is buried in a long 21-tab agenda as TAB 8. No draft budget proposal is available to justify the staff recommended millage rate of 3 mills, over 13% higher than current year. 

Yes, the rate can be decreased during September public hearings – but why even suggest the possibility of a significant tax rate increase?

Answer: to eventually come in at a lesser figure and give the illusion that you saved us money?

With a huge increase in the taxable value in Islamorada property taxes and this millage rate, if adopted, the total property taxes in the Village would increase by 27.35% over the taxes for the current year.

Is the Village paying attention? The Village Financial Task Force members spoke about the need to REDUCE spending significantly. Even a 10% cut in the millage rate was suggested by Dr. Dalton, not a 13% increase.

The county commission approved a draft budget with significant operational reductions.

We support these types of budget decisions. Not a signal of a potential huge tax increase to taxpayers in the TRIM NOTICE.

Now is the time for Village Council to pay attention to the voices of their constituents.

Florida Department of Government Efficiency (DOGE): The state has sent requests for financial data to the Village from Florida DOGE aimed at reducing wasteful spending and improving government accountability. FL DOGE is examining local governments to identify inefficiencies. The County is paying attention and implementing cost reductions.

The Village is duty bound to request DOGE to assist our community.

Just look at our consistent tax increases and lack of budget line item scrutiny.

The Islamorada Community Alliance got an email this week: “It only takes three people to decide how OUR money is spent. Village residents need more say. I think anything over one million dollars should be voted on by the residents of the village.”

We suggest other possible solutions:  

• Annual millage rate and budget approval by council: a unanimous vote of council.

• Expenditures during the year exceeding $100,000: 4/5 vote of council.

• Expenditures over $500,000: a unanimous vote of council.

Will the Council agree to limits? If not, why not? It is common sense.

Stand up, residents, it’s OUR MONEY!

Elections have consequences and this is just another one.

As always,

Tom Raffanello

Reply to: ICA.in.Keys@gmail.com