The Real Deal Miami

PB County values “back to normal”

Property Appraiser projects 6.8% year-over-year increase in tax base
May 29, 2014 10:30AM

Gary Nikolits

Gary Nikolits

Palm Beach County’s property appraiser says the market’s values are “back to normal.”

Appraiser Gary Nikolits released updated estimates of the county’s property tax base on Wednesday. His office projects a 6.8 percent increase in the tax base in 2013. That would be more than a full percentage point higher than estimates released last month by Nikolits.

The final tax rolls are slated to be released on July 1.

Palm Beach County is on track to post its first year-over-year property value gain since the start of the recession, according to the Palm Beach Post.

“What we are looking at is a return to normal markets,” Nikolits said. “A countywide increase of 6.8 percent is pretty much in line with what we were experiencing before we had the crash.” [Palm Beach Post]Eric Kalis