Leaders try to solve mystery of Lake Worth price drops

Residents of Lake Worth are asking questions after its taxable property
value went down 25 percent for the second year in a row. The fall was
the biggest in Palm Beach County this year, twice the county average of
11.8 percent. Lake Worth’s next-door neighbor, West Palm Beach, saw its
taxable property value fall by only 14 percent. Since 2007, Lake
Worth’s tax base has fallen 46 percent to just $1.12 billion, which
represents a loss of around $1 billion in taxable value. [Palm Beach Post]