Miami-Dade County Property Appraiser Releases June 1st Estimates for 2018 Tax Year Values
In a press release on May 31, 2018, the Miami-Dade County Property Appraiser, Pedro J. Garcia discusses the state of Miami-Dade County 2018 tax year property values. In this preliminary release, Mr. Garcia indicates that the countywide estimated taxable value for 2018 is $288,859,000,000 which represents a 6% increase over 2017. Of the overall 6% increase in estimated value, approximately 2% or $5.68 Billion is a result of new construction being added to the 2018 tax roll.
Though the overall taxable value is estimated to increase 6%, per Mr. Garcia “We continue to see the same market trends as last year, with an oversupply of condominiums putting downward pressure on condo values. However, a relative short supply of mid-range single family homes has increased property values, making it more difficult for working families to afford a new home”.
These figures that have been released with the intention to provide the taxing authorities guidance in their budget preparations and continue to be estimates until the official certified values are released on July 1, 2018.
With property values on the rise for most property types along with the challenges facing the condominium market, it is important for a qualified property tax professional to review and analyze your properties to ensure that your values are fair and equitable.
FirstPointe Advisors, LLC aims to be your dedicated property tax advisor. We strive to provide innovative solutions for your property tax needs to be combined with exceptional client service. Please contact us should you have any questions or would like to discuss how we can help with your property tax process.