Miami-Dade taxable values up 9.4 percent

Miami /
Jul.July 01, 2015 01:45 PM

Miami-Dade properties’ taxable values rose even more than initially estimated: 9.4 percent in the past year to $230.4 billion, led by double-digit increases in Sunny Isles Beach, Key Biscayne, Miami Beach and other cities, according to data released by the county’s property appraiser on Wednesday.

The new figure, which represents the July 1 preliminary certification of taxable values, is above the estimated taxable value of $228.7 billion, which was released June 1. That estimate had represented an 8.6 percent jump from 2014.

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

The cities with the highest increases in taxable value, according to the latest data, are: Sunny Isles Beach, 16.7 percent; El Portal, 15.4 percent; Key Biscayne, 15.3 percent; Miami Beach, 13.3 percent; Miami, 13.1 percent; Surfside, 12.4 percent; Indian Creek, 12 percent; Golden Beach, 11.6 percent; Bay Harbor Islands, 11.3 percent; North Bay Village, 11.3 percent; and Biscayne Park, 10.8 percent.

“For the first time since 2007, every municipality in Miami-Dade County has seen a value increase,” Property Appraiser Pedro J. Garcia said in a statement. “This growth has been steady with the coastal communities leading the way.” — Ina Cordle


Related Articles

arrow_forward_ios
Montford Group' Sunju Patel and Opterra Capital Glenn Alba with 2940 Collins Avenue (Montford Group, Getty)
Montford, Opterra JV buys Hilton Garden Inn Miami Beach for $28M
Montford, Opterra JV buys Hilton Garden Inn Miami Beach for $28M
Randy Walker with 60 Edgewater Drive (ExCo Group, Brown Harris Stevens)
Gables Club developer Marc Kovens sells his penthouse
Gables Club developer Marc Kovens sells his penthouse
Gables Club Tower II at 60 Edgewater Drive in Coral Gables (Condo.com, Getty)
Coral Gables closing tops Miami-Dade’s weekly condo sales
Coral Gables closing tops Miami-Dade’s weekly condo sales
Deerwood Town Center at 12085-2107 Southwest 152nd Street in Miami-Dade County, One Biscayne Tower at 2 South Biscayne Boulevard in Miami and 2990 Ponce office building in Coral Gables with Gildenson Real Estate's Eduardo Gildenson and CP Group’s Angelo Bianco (Google Maps, Gildenson Real Estate, CP Group)
Lease roundup: Quest takes space at One Biscayne Tower & more
Lease roundup: Quest takes space at One Biscayne Tower & more
Codina Partners’ Armando Codina and Ana-Marie Codina Barlick with 5350 Park condo project (Codina Partners, Getty)
Judge orders Codina Partners’ affiliate to pay Grycon $8M in damages
Judge orders Codina Partners’ affiliate to pay Grycon $8M in damages
1600 Northeast Second Avenue (Loopnet, Getty)
Sabet buys development site in Miami’s A&E District
Sabet buys development site in Miami’s A&E District
Truist Securities' John Gregg with 7600 Northwest 82nd Place (Truist Securities, JLL)
Hot deal for cold storage: Truist buys, leases back Quirch Foods’ Medley site
Hot deal for cold storage: Truist buys, leases back Quirch Foods’ Medley site
South Florida
Home sales fall over 20% in August across South Florida
Home sales fall over 20% in August across South Florida
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...