Miami-Dade County property values reach record heights
Property Appraiser Pedro J. Garcia has released the Miami-Dade County 2016 June 1st Estimates of Taxable Values to the Taxing Authorities. The countywide estimated taxable value for 2016 is $250,294,000,000, an 8.6% increase from 2015.
“Like Miami-Dade’s skyline, property values continue to go up. The new construction in Miami Beach, Miami, Sunny Isles Beach, Doral, Aventura and North Miami Beach are at the heart of this significant increase in value. The construction boom that is visible across the county has yet to peak and will continue to fuel this growth,” said Property Appraiser Pedro J. Garcia.
The county has recovered over 63 billion dollars in value since the lowest point of the real estate market crash in 2011. During these past 5 years, the growth has been much more conservative than the previous market surge. The current countywide taxable value is now over 4 billion dollars higher than the peak in 2008. This year, all of the municipalities in Miami-Dade County experienced year-over-year growth. The cities with double-digit percentage increase were North Miami Beach, North Bay Village, El Portal, West Miami, Sunny Isles Beach, Bay Harbor Islands, Miami Beach, Miami, Golden Beach, Biscayne Park and Surfside.
The June 1st estimate is provided to the taxing authorities to assist them with their budget preparations. It is important to note that July 1st is the official certification date for the 2016 assessment roll. June 1st is only an estimate, which is subject to change.
Additionally, Mr. Garcia encourages property owners to review their 2016 property values online at www.miamidade.gov/pa. If they have any questions or would like to review their assessment, they can visit our office in Downtown Miami (111 NW 1st Street, 7th Floor) or the South Dade Government Center (10710 SW 211th Street, 2nd Floor), Monday through Friday, from 8 a.m. to 5 p.m. They can also schedule an appointment online at www.miamidade.gov/pa or call us at 305-375-4712.