The overall value of property in Miami-Dade is now at a new record, according to the county tax office.
Total taxable value is now estimated at $272 billion, which is the highest level ever for the county in nominal (but not inflation adjusted) terms. The increase is 8.2% in just the past year, and 11.3% in Miami.
Brickell City Centre alone added over $1 billion in taxable value to the county rolls last year. The project was part of $8 billion in new construction completed countywide, including $2.9 billion within Miami city limits.
Existing properties are still said to be increasing in value, although not as fast as in the past few years.
In the past six years, Dade taxable value is up 45% from a $187 billion base in 2011. The previous record years were in 2007 and 2008, when taxable values were at $245 billion.