The Real Deal Miami

Miami-Dade taxable values up 8.6 percent

Spurred by new construction, Sunny Isles Beach rose 15.7 percent
June 01, 2015 03:30PM

An aerial view of Miami

An aerial view of Miami

Miami-Dade properties are estimated as of June 1 to have a taxable value of $228.7 billion, an 8.6 percent jump from 2014, according to data released Monday by the county’s property appraiser.

Following last year’s trend, the real estate market’s urban core and waterfront neighborhoods are experiencing the largest growth, based on a news release from Miami-Dade Property Appraiser Pedro J. Garcia.

As real estate investors continue to fuel the market, double-digit increases are found in areas where the bulk of new condominium projects are proposed.

Spurred by new construction, Sunny Isles Beach rose 15.7 percent; followed by Key Biscayne, 15 percent; El Portal, 13.2 percent; Miami Beach’s Normandy Shores, 13.1 percent; Surfside, 12.1 percent; and Miami Beach, 12 percent. Next is Bay Harbor Islands, 11.9 percent; Downtown Miami, 11.6 percent; Miami 11.3 percent; and North Bay Village, 11 percent.

The data, as of June 1, is based on estimates, the property appraiser said. July 1 is the official certification date for the 2015 assessment roll. — Ina Cordle