The Miami-Dade County Property Appraiser, Pedro J. Garcia, has released the 2017 June 1 Estimates of Taxable Values to the Taxing Authorities showing a continued growth in the real estate market. The countywide estimated taxable value for 2017 is $272.046 billion, an 8.2 percent increase from 2016.
With over $8 billion in new construction countywide, Brickell City Center in the City of Miami is the largest single project to be completed for this roll cycle — a combined assessed value is just over $1 billion. Other cities such as Miami Beach, Bal Harbour, Sunny Isles Beach and Doral also had significant amount of new construction value.
“New construction continues to drive the growth in taxable value countywide and in most cities,” Garcia said. “Several cities like Miami, Miami Beach, Sunny Isles and Doral have benefited from new construction projects.
“However, the value increase of existing properties as compared to last year has not been at the same rate. We are starting to see a relative weakness in the market, especially with condominium properties,” he added.
The June 1 estimate is provided to the taxing authorities to assist them with their budget preparations. However, the values released on June 1 are only estimates, which are subject to change. The official certification date for the 2017 assessment roll is on July 1.
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, can visit our office in Downtown Miami at 111 NW First St., Seventh Floor, or the South Dade Government Center, 10710 SW 211 St., Second 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 305- 375-4712.
