Miami-Dade taxable values in third year of decline

The Miami-Dade County property appraiser reported that the 2010 estimate of taxable value in the county is $192.48 billion, a decline of 13.4 percent compared to the 2009 figure of $222.14 billion, according to Eye on Miami. Taxable value refers to a percentage of the assessor’s appraisal according to a state-prescribed formula, after any exemptions are removed. In 2008, the value was $245.6 billion. The new construction taxable value in the county is estimated at $2.63 billion, a significant decline when compared to $8.379 billion the previous year. Homestead had the highest recorded decline in the
county with a 29.9 percent decrease from 2009. [Eye on Miami]