The Real Deal Miami

New construction fills tax gap

June 08, 2009 04:17PM

Property tax values are set to drop even further next year as building slackens. Miami-Dade County property values fell by 9.2 percent in 2008, but new construction softened the blow, which would have dropped by 12.1 percent. Miami-Dade Property Appraiser Pedro J. Garcia said the $7.2 billion worth of construction prevented double-digit freefall.