Miami-Dade Reaches New Property Value Record

By: Ismael Rodriguez

Miami-Dade’s tax office reported that the overall value of property has reached a new record high, estimating $272 billion, which is the highest level ever for the county in nominal terms.

According to the county tax office, the total taxable value also increased by 8.2 percent over the past year, and 11.3 percent in Miami alone.

Brickell City Center, which added over $1 billion in taxable value to the county rolls last year, was among the top properties in Miami-Dade. The fairly new project came from an $8 billon budget for construction, including $2.9 billion within Miami’s city limits.

Other similar properties are still increasing in value, although not with the increasing intensity of the past few years, according to The Next Miami.

Over the course of six years, Dade’s taxable value has risen to 45 percent from a $187 billion foundation in 2011. And the last record years go back as far as 2007 and 2008, when taxable values reached $245 billion.