What is it really worth? Property appraiser and owners square off

Miami-Dade property appraiser Pedro Garcia is challenging adjustments made to property assessments, including those for 132 condo units at the Setai Miami Beach tower.
Miami-Dade property appraiser Pedro Garcia is challenging adjustments made to property assessments, including those for 132 condo units at the Setai Miami Beach tower.

From the fall issue: These days, there is certainly no love lost between Miami developers and the county’s Property Appraiser’s office. Increasingly, the groups are battling it out in court over assessment values.

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Take, for example, the case of a North Miami Beach strip mall located at 14750 Biscayne Boulevard. In December 2015, the mall’s owner convinced the Miami-Dade County Value Adjustment Board that the previous year’s property assessment of $15.2 million was too high. The board slashed the market value given to the 107,000-square-foot property by nearly half, to $7.6 million. As a result, Arena Shops, the company that owned the shopping center, was owed a significant property tax refund. [more]