The Real Deal Miami

Palm Beach marinas could get tax break

March 26, 2008 06:00PM

A proposed law, to be voted on this fall, would give property tax breaks to the developers of Palm Beach County’s coastal marinas and water-related commercial properties. The measure, agreed upon by the Florida Tax and Budget Reform Commission, would tax waterfront properties based on their current use rather than their “highest and best use.” By the current system, a property’s tax is based on an appraisal of the property’s maximum value, if it had the most lucrative development.