On Wednesday, Miami-Dade Schools Superintendent Alberto Carvalho told board members the district needs fewer dollars to educate the county's 345,000 students.
"Today is a good day for Miami, it's a good day for our kids, it is a good day for our teachers and principals," he said.
Late Tuesday state education officials confirmed the increase in tax revenues statewide is more than expected, meaning some school districts can lower their portion of the county's property tax rate.
In addition to those increased tax revenues, the district has been able to pay down old debt, which has saved substantial dollars. Carvalho also promises to keep the commitment to voters who recently passed a $1 billion bond for massive school upgrades and enhancements.
Board members praised Carvalho.
"We still have challenges ahead of us but with what we are doing and the achievements that we are making we are extremely proud," said board member Dr. Wilbert 'Tee' Holloway.
"We are going to give the employees raises, lower taxes and have stable finances. That is remarkable," said another board member, Dr. Marta Perez.
The reduction in the school district's tax rate doesn't necessarily mean property taxes are headed south for all homeowners in the county. A complex formula is used to calculate that rate.
It's the school board's portion of the total rate that's being decreased.