Miami-Dade County Property Values Continue to Increase in 2017
Miami-Dade County, FL— Property Appraiser Pedro J. Garcia has released the July 1st Preliminary Certification of Taxable Values to taxing authorities in Miami-Dade County. The countywide taxable value for 2017 is $272,431,699,283, an 8.4% increase from 2016. The increase was fueled by over $8 billion worth of new construction value countywide.
“It is encouraging to see the continued strength in Miami-Dade’s real estate market. Last year’s new construction projects and those in progress are an indication of a strong market. As in prior years, coastal communities such as Miami, Surfside, Bal Harbour and Bay Harbor Islands are among the municipalities that experienced the most growth.” said Mr. Garcia.
The following municipalities experienced a double digit growth, primarily driven by new construction:
- West Miami (29.1%)
- Surfside (27.3%)
- Bal Harbour (19.9%)
- Bay Harbor Islands (17.2%)
- El Portal (13.4%)
- Homestead (12.6%)
- Hialeah (11.3%)
- Biscayne Park (10.3%)
The July 1st Preliminary Certification of taxable values allows the taxing authorities, such as county government, municipal governments, the school board and The Children's Trust, to prepare their 2017-2018 budgets and adopt proposed millage rates.
Individual property assessments are available online at the Property Appraiser’s website. Property owners are encouraged to look up their 2017 assessments. If they have any questions or would like to review their assessment, they may 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. For their convenience, they can also schedule an appointment online at www.miamidade.gov/pa or call us at 305-375-4712.
The Notice of Proposed Property Taxes (TRIM Notice) will be mailed by August 24th, which will provide property owners with their proposed property tax and exemption benefits information.