The Real Deal Miami

Price tag for slump: $153B

August 06, 2008 11:51AM

The real estate collapse has cost the state $153 billion in assessed
property value in just one year, state economists say. That’s a
statewide drop of 6 percent. The state’s total property value is
estimated to drop an additional 4.92 percent next year, ticking down
from $2.43 trillion to almost $2.35 trillion in 2009, according to
economists from the state House, Senate, tax department and governor’s
office. Miami-Dade County suffered worse than any other area, they say.