Miami leaders are considering a plan this week to explore new financial assistance for older residents as housing, insurance and everyday expenses continue to climb.<\/p>\n
The City Commission<\/a> is set to vote on a resolution<\/a> by Ralph Rosado that would direct City Manager James Reyes to develop one or more financial assistance programs for residents 65 and older while also studying a range of policy options aimed at easing economic strain on seniors.<\/p>\n Miami is among the most expensive cities<\/a> to live in worldwide, according to multiple studies, including one released by Bankrate<\/a> in December that found that fewer than 1 in 200 homes on the market are affordable for a typical household.<\/p>\n About 16%<\/a> of Miami\u2019s residents are seniors. Many are on fixed incomes, with a sizable share dependent on Social Security. Close to 1 in 3 (32.7%) live at or below the poverty line, according to U.S. Census Bureau data<\/a>.<\/p>\n Rosado\u2019s resolution, which Miami Today first flagged, is up for a vote Thursday. It calls for Reyes to design potential assistance programs, review existing initiatives that help seniors and examine what other forms of aid could be added to the mix.<\/p>\n That includes evaluating grant programs, city-backed assistance efforts and the feasibility of additional ad valorem tax exemptions through constitutional amendments that could reduce property tax burdens for qualifying homeowners.<\/p>\n The measure also directs the administration to examine how current city programs \u2014 such as the Anti-Poverty Initiative<\/a>, Miami for Everyone program, community development block grants and the Miami Forever Bond<\/a> \u2014 could be expanded or leveraged to better support seniors.<\/p>\n City staff would be required to return to the Commission within 30 days with a report outlining program models, policy recommendations and potential pathways for implementation.<\/p>\n Miami\u2019s latest effort to help its senior population follows similar moves in the nearby cities of Hialeah and Miami Lakes, whose City Councils recently approved measures<\/a> to provide property tax refunds to qualifying seniors.<\/p>\n At the state level, Miami Republican Rep. Juan Porras sponsored a proposed constitutional amendment this year (HJR 205<\/a>) that would have exempted homes owned and occupied by seniors from all state property levies except School District, police and fire rescue taxes.<\/p>\n