Property values rise 2 percent in Palm Beach

Palm Beach saw a 2.17 percent increase in taxable property values in 2011, the Palm Beach Daily News reported. The increase followed three straight years of reductions in property values, according to data from Palm Beach County Property Appraiser Gary Nikolits. The increase was higher than an earlier prediction by Nikolits in April that property values would rise 1 percent. Palm Beach has seen its residential market stabilize of late, with strong demand in its low and mid-range properties. [Palm Beach Daily News]