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Miami Gardens Florida Form 1040 (Schedule C): What You Should Know

Taxes are a tool. Proper tax collection is the most powerful tool at your disposal. Use it wisely. Taxation can be a good thing. But excessive tax collection can be destructive.” City of Miami Gardens Mayor Philip Levine The Miami-Dade Tax Increment Reallocation Act (TERRA) passed in 2010, created incentives for property owners to preserve the tax base and for city officials to reduce property taxes. In exchange, cities receive state and federal funds to help pay for vital services like roads and schools. With the passage through the legislature of the 2023 Tax Increment Financing Act (TERRA), there are significant changes to pay-for. For businesses and investors, the changes reflect the reality that the government can no longer rely solely upon individual property taxes. The city now provides a one-time TIF rebate that can be used to purchase real estate or finance facilities not previously financed with tax-increment dollars. “The city is taking ownership in a very tangible way,” says Levine. “The business community is looking at these changes as an investment, and investing in the city's future.” Levine says that cities such as his that have been successful at reallocating funds have developed strong relationships with banks and financial institutions. They have been able to obtain access to money through the federal TIF program. “While we are still in the early months of TIARA, we are looking at our tax increment financing programs as a tool for investment,” Levine says. “In the near future, we can expect to see a change in FIFA. We will have an opportunity to look at and evaluate how we can reallocate revenue we receive from the county and federal government that is currently used for city services. That will be a tremendous opportunity for the community.” For more information about TERRA, go to the City of Miami Gardens website at or call. Florida Department of Juvenile Justice — Juvenile Justice Tax Credit The Florida Department of Juvenile Justice administers and administers Juvenile Justice Tax Credit program. The program provides tax credits for qualifying non-profit organizations that support the rehabilitation of delinquent juvenile offenders. The non-profit organization may use the tax credit credits to fund the purchase or construction of a program facility or to hire additional employees.

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