The Real Deal Miami

Palm Beach tax rolls show 7 percent drop in value

May 30, 2008 10:13AM

Palm Beach County’s property values dropped 7 percent as estimated for tax purposes by the county’s property appraiser yesterday. Total taxable property values in the county fell to $157.5 billion in 2008, from $169.4 billion last year, according to the estimate – the steepest drop in at least three decades. In addition to declines in value from the housing slump, voter-mandated cuts reduced taxable value from properties by more than $8.5 billion.