Property Appraiser releases June 1st estimates, new assessments reveal positive signs for Miami-Dade County

Property Appraiser Lazaro Solis has released the Miami-Dade County 2014 June 1st Estimates of Taxable Values to the Taxing Authorities. The preliminary countywide estimated taxable value for 2014 is $209,937,000,000, a 6.5% increase from 2013.

Overall, property values countywide are doing better, continuing last year’s trend. Waterfront neighborhoods such as Surfside, Bay Harbor Islands, and Sunny Isles Beach continue to show a strong real estate market with double digit growth. Some parts of the county that were hit the hardest during the recession, like Hialeah, Homestead and El Portal, have also experienced the most substantial growth in 2014. However, Opa-Locka, Florida City and Medley have still not fully recovered and continue to see a decline in property values.

Additionally, Virginia Gardens saw a significant increase in value as a result of the Boeing Training & Flight Service facility adding several new simulators. This equipment is assessed as Tangible Personal Property and has an added value of approximately $57 Million dollars.

It is important to note that July 1st is the official certification date for the 2014 assessment roll. June 1st is only an estimate, which is subject to change.