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Broward County June 1st Taxable Value Estimates are available!
The Broward County Property Appraiser’s Office has released the 2020 June 1st Estimates of County-Wide taxable value to the taxing authorities. Overall, the taxable value County-wide increased 6.14% inclusive of nearly $2.72 Billion in new construction. The taxable value County-wide now stands at over $211 Billion as compared to the 2019 final taxable value of $199 Billion. The increase year-over-year without consideration for new construction was about 4.77%.
Leading the way in taxable value increases were West Park, Pembroke Park and Tamarac with increases of 10.22%, 8.81% and 8.34% respectively. These increases were due in part to new construction coupled with an increase in residential sales during 2019. Cities such as North Lauderdale (8.09% increase), Lauderhill (7.76% increase) and Deerfield Beach (7.75% increase) were not too far behind. Fort Lauderdale, the city with the largest tax base, saw an increase of 6.33%, of which nearly $674 Million was new construction added to the tax roll; the most in the County. You can review the entire 2020 taxable value report here.
If you would like to inquire about the preliminary 2020 value your property(s), please feel free to reach out to me directly at n.mau@first-pointe.com. You can also learn more about the June 1st Estimates and what they mean on our latest blog post.
On July 1st, Broward County will submit their final tax roll for certification by the Florida Department of Revenue. Once the certification is complete, the 2020 TRIM Notices will be sent out to the property owners in mid-August with the appeal deadline to follow in mid-September, 25 days after the mailing of the TRIM notices.
The amount you will pay in property taxes for 2020 is directly based on the County’s opinion of Market and Assessed Value for your property. With property values on the rise amidst the challenges presented by the COVID-19 pandemic, it is important for a qualified property tax professional to review and analyze your properties to ensure that your values are fair and equitable. If you feel the value of your property is too high or just wish to have an independent review, then we encourage you to call us at (954) 282-2005 or email Brian at b.depotter@first-pointe.com or Nick at n.mau@first-pointe.com.
FirstPointe Advisors, LLC is a full service ad valorem tax service provider. We provide you with the experience of a national firm with a regional focus. At FirstPointe Advisors, LLC, you come first. We strive to provide innovative solutions to your property tax needs. With our experience and first class client service, we will create an easy review and appeal process for you. Our experience spans across Florida’s 67 counties in representing owners of residential and commercial properties.
