Miami-Dade County Property Appraiser Releases The June 1st Estimate of Taxable Values, Numbers Show a Modest Increase in Property Values Countywide

(Miami, FL – May 31, 2013) – Property Appraiser Carlos Lopez-Cantera has released the Miami-Dade County 2013 June 1 estimates of taxable values to the Taxing Authorities. Preliminary numbers show the countywide estimated taxable value for 2013 is $196,614,000,000, a 3.1% increase from 2012.

Overall Real Estate property values increased by 2.54%, with oceanfront and urban core properties doing better than properties located in the southern and western parts of the County. Residential condominium property values were especially strong in most markets. For the most part, commercial property values throughout the County were generally flat. However, properties in coastal municipalities, with a concentration of high-valued properties, experienced the most growth.

Tangible Personal Property taxable value saw a significant increase. This is primarily attributed to Florida Power and Light Companies’ (FPL) net assessment increase of approximately $1.4 billion, which resulted from FPL’s “uprating project” of the Turkey Point Nuclear Plant.

It is important to note that July 1st is the official certification date for the 2013 assessment roll. June 1st is only an estimate, which is subject to change. # #