2022 Palm Beach County Preliminary Values Released
The Palm Beach County Property Appraiser’s Office has submitted the 2022 preliminary tax roll to the Florida Department of Revenue and the local taxing authorities. Overall, the taxable values County-wide have increased 15.19% while the School Board taxable values have increased 22.54%. The taxable value County-wide now stands at $255.5 Billion, inclusive of over $4.42 Billion in new construction. According to the Honorable Dorothy Jacks, CFA, AAS, “Demand for properties of all types continues to grow.” “Both commercial and residential markets have seen an increase in value and new construction” she continued. This is a result of the influx of new Florida residents and the post-Covid Market.
The largest increase year-over-year was seen in the newest city of WestLake, where Minto Communities is developing the new city. WestLake saw an increase of over 74% due to new construction of nearly $155 Million. Manalapan (28.06% increase), Village of Golf (22.83% increase) and Glenridge (18.38% increase) experienced some of the larger increases seen throughout the County. Additionally, the largest cities; Boca Raton, Palm Beach, and West Palm Beach saw increases of 14.47%, 18.07% and 17.85% respectively. Each of these cities also added over $300 Million of new construction to the tax roll, with Boca leading the way with over $580 Million. You can review the entire 2022 Preliminary Tax Roll Chart here.
The Florida Department of Revenue will now review and approve the tax roll for the 2022 tax year. The TRIM Notices will be sent out to the property owners in mid-August with the appeal deadline to follow 25 days after the mailing of the notices. The anticipated deadline for the 2022 tax year is September 12, 2022.
The amount you will pay in property taxes for 2022 is directly based on the County’s opinion of Market and Assessed Value for your property as of January 1st. With the ever changing market and property values on the rise for most property types, 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 Nick at email@example.com.
FirstPointe Advisors, LLC is a full-service ad valorem tax service provider. Our management team has the experience to manage both large national engagements along with local and regional clients. 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. Our Purpose is to be your trusted partner and advisor on all property tax related matters. Together, we can better position you and your company to achieve your financial goals.