Miami-Dade County Property Appraiser Certifies the 2023 Preliminary Taxable Values
Miami-Dade County, FL – The Miami-Dade County Property Appraiser Pedro J. Garcia has submitted the 2023 Preliminary Certification of Taxable Values to the taxing authorities, which continue to show strong growth in the real estate market. The countywide taxable value for 2023 is $425,816,881,016, an increase of $47,919,484,972 or 12.7% growth when compared to 2022. Taxing authorities will use the preliminary taxable values to prepare their upcoming budgets and determine their proposed millage rates.
The countywide new construction value increased just over $6 billion, continuing a trend we have seen over the past few years. This trend does not appear to be slowing down as real estate values continue to grow. The City of Miami continues to have the largest increase in new construction with over $1.4 billion in growth.
“This year’s unprecedented record growth of almost $48 billion of taxable value has provided our local taxing authorities with a windfall. However, I am concerned with the average homeowner and small businesses that may struggle with increased property taxes. The county and many cities saw significant growth; therefore, I’m asking our local governments to consider a reduction in their tax rates,” said Property Appraiser Garcia.
The 2023 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 2023-2024 fiscal budgets and adopt proposed millage rates, which will appear on the Notice of Proposed Property Taxes (commonly referred to as the TRIM Notice) mailed to all property owners by August 24. This notice will provide property owners with their proposed property taxes and exemption benefits information.
Property Appraiser Garcia encourages property owners to review their individual property values online at www.miamidade.gov/PA/. Property owners who have questions or would like to review their assessment with staff may call our offices at 305-375-4712 or submit queries by visiting www.miamidade.gov/PASubmit.