Boom: New Construction In Miami Doubled Last Year; Taxable Values At New Record

Local governments will have a lot more money to spend this year, thanks to a construction boom and record property values.

According to a Dade Property Appraiser estimate issued today, $5 billion in new construction was added to tax rolls over the past year:

  • $1.156 billion in Miami Beach
  • $1.035 billion in Miami
  • $598 million in Sunny Isles
  • $476 million in Doral
  • $367 million in Miami DDA

Dade property values are now above $250 billion – a new record in nominal terms ($4 billion above the previous peak in 2008). They have increased about $20 billion (8.6 percent) over the past year, and $64 billion since 2011.

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Ricky
4 years ago

Can we use that money to built a massive light rail project all over dade county with 5 new lines of metro rail and many more stations. Especially one at the FIU main campus. Do it and never look back.

Jesus
4 years ago

They should follow the example of Denver. It has one of the best rail systems in the country and a high percentage of the population uses it.

Garmin
4 years ago

and where is all that money going???

Anonymous
4 years ago

everyone always complains about the politicians but no one ever sees the citizens voting these useless “leaders” out of office

Jesus
4 years ago

You’re right. I have tried on Twitter to get people together to do something but everyone is busy with their lives. One can assume it’s what the government and big money interests want in order to keep the status quo.

IloveMiami
4 years ago

You are absolutely right. Even though the presidential primaries don’t reflect the voter apathy that you have touched upon, the numbers in Dade indicate a sorry state of affairs. During the March primaries, 360,000 votes were cast in Dade, out of roughly 1,270,000 registered voters. This equals to less than 29%. I suspect that elections on local issues and local office fair much worse. Everybody complains, but just a few drag their behinds out to the polls to make their voices heard. Sadly, this is a national trend. I think that people have forgotten the power of the vote.

Anonymous
4 years ago

If all of the important votes were held at the same time each year (November), in stead of dribbling them out through the year with poor publicity, they would have better turnout and WE would have better representation. And guess what? It would cost us all much less in election costs. Who came up with this current system anyway? It seems designed to create apathy and low turnout in order to perpetuate the dysfunction.

ILoveMiami
4 years ago

Very true.

Kat
4 years ago

To the pockets of politicians, that is why all of them want be a there

Anonymous
4 years ago

Can’t wait to see what the school board will say now on regards to funding…

Danny
4 years ago

“Good but not good enough, we need more!”