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

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]