The Real Deal Miami

Palm Beach taxes stay steady amid property slump

July 06, 2009 01:47PM

Palm Beach residents, whose properties have largely retained their value in the economic slump, feel they’re being asked to pay more than their fair share as tax assessments slide throughout Palm Beach County. Countywide, assessments are down 15 percent or more in the past year, but in affluent Palm Beach, the value of taxable property in town will fall by an average of only 3.4 percent, according to Palm Beach County Property Appraiser Gary Nikolits’ office. Town Council President David Rosow said that leaves the non-billionaire population of the town unfairly squeezed.