The Real Deal Miami

Taxable values in Miami show positive gains for first time in five years

June 01, 2012 09:45AM

Property Appraiser Pedro Garcia

The taxable value of Miami’s real estate is up for the first time in five years, the Miami Herald reported. According to data from Miami-Dade County Property Appraiser Pedro Garcia, taxable values in Miami-Dade County rose 1.48 percent to $189.73 billion from $186.96 million in 2011. The improvement was driven by high-end properties, which Garcia said outperformed the rest of the sector. “While it is premature to celebrate a complete recovery of the county’s real estate industry, there was a clear positive trend, especially in the last three months of 2011,” he said. [Miami Herald]