The Real Deal Miami

Homeowners struggle with falling home values, rising property taxes

March 30, 2010 10:49AM

Property tax appeals in Miami-Dade County rose to nearly 143,000 in
2009, after more than doubling from an average of 40,000 per year to
104,000 in 2008. The steep rise has forced the Value Adjustment Board to find more people to handle the appeals. More and more property owners are appealing the
amounts, however small, as they struggle with falling home values and
rising tax rates. Miami Dade Clerk of Courts Harvey Ruvin said the
number would likely rise in 2010. While home values have plummeted,
property tax revenue has actually increased nationally, by 2.7 percent
to $421.8 billion, according to a report by the U.S. Bureau of Economic
Analysis. [USA Today]