Jun 1 2017 37430 1

Dated: 06/01/2017

Views: 142

Miami-Dade’s taxable property values rise 8.2% to $272B

Property values are growing at a slightly slower rate than in previous years

May 31, 2017 06:00PM

A rendering of Brickell City Centre

Pedro Garcia

Driven by new construction, the estimated combined value of properties in Miami-Dade County exceeds $272 billion so far this year, up 8.2 percent from 2016, according to the county’s Property Appraiser Pedro J. Garcia.

Garcia’s office just released the June 1st estimates of taxable values, which include more than $8 billion of new construction throughout the county – a combined assessed value of more than $1 billion. Brickell City Centre, which Swire Properties completed in November, was the largest project to be completed this cycle in the city of Miami, according to the release.

Property values grew the most year-over-year in West Miami (28.2 percent), Surfside (26.5 percent) and Bal Harbour (19.8 percent), according to the estimates.

Despite the increases, Garcia said in a press release that values are growing at a slower rate than in previous years. “We are starting to see a relative weakness in the market, especially with condominium properties,” he said.

From 2014 to 2015, property values were up 9.4 percent to $230.4 billion, and from 2015 to 2016, they were up 9.1 percent to a previous record high of $251.3 billion.

Garcia will release the 2017 assessment roll on July 1.

Here’s a full list of the estimates:

Click to enlarge

– Katherine Kallergis

Blog author image

Team H and L Miami

Team H&L Miami @ Real Estate Empire Group is a fast growing boutique Real Estate firm established in 2001. It began to revolutionize property sales as well as marketing through brokers, agents, and an....

Want to Advertise on this Site?

Latest Blog Posts

Sep 18 2018 37430 1

ing Table Posted byTeam H&L Miami @Real Estate Empireon9/16/2018The home buying process can be long and daunting. From trying to find the right home to facing rejected offers, it can seem endless.

Read More

Sep 15 2018 37430 1

This information is brought to you byHenry & Laly SanzTeam H&L Miami at Real Estate EmpireIs Debt Consolidation Right for You? Credit cards can help you afford things you need if you don’t

Read More

Sep 14 2018 37430 1

7 Home Items That Will Absolutely Make Your Life EasierWRITTEN BYJAYMI NACIRIPOSTED ONWEDNESDAY, 12 SEPTEMBER 2018 17:19         Print;

Read More

Sep 13 2018 37430 1

How to Stop Your Dog from Chewing on FurniturePosted byTeam H&L Miami @Real Estate Empireon9/12/2018Pets are a part of the family. When we welcome a new dog into the home, we often expect them to

Read More