The Real Deal Miami

Better news on property taxes

August 25, 2011 09:51AM

There is less anxiety in Miami over property taxes, as property value
declines have slowed significantly. The impact on prices has meant more
cities are either seeing jumps in values or even cutting property tax rates.
“You have areas [where] the influence of the foreclosures is very heavy —
like Florida City and the Homestead area — and some of those values
are way down,” said Miami-Dade County Property Appraiser Pedro Garcia.
“Then you have areas like Coral Gables, Key Biscayne and Miami Beach,
where the values have increased a little bit.” Miami-Dade County saw a
2.8 percent decline in property values in 2010, according to Garcia. [Miami
Herald]