The Real Deal Miami

PBC property values continue free-fall

May 27, 2010 02:15PM

Palm Beach County property values fell by another 11.8 percent on average over the past year, according to estimates by the county’s property appraiser released today. More than half of the county’s 38 municipalities saw property values drop by more than the nationwide average and none saw an increase. Lake Worth fared worst of all, with its tax base plummeting by 24.9 percent. Greenacres and Boynton Beach each saw drops of at least 18 percent. The declines follow a 13.5 percent average decrease in values last year and a 5.5 percent drop in the year prior to that. [Palm Beach Post]