Miami-Dade’s property appraiser released its annual Estimates of Taxable Value, and it shows new records have been broken once again.
As of June 1, taxable property values in the city of Miami were estimated to have risen 4% compared to the same time last year.
Overall, taxable property values in the city of Miami have more than doubled over the past decade from $30.2 billion in June 2011 to $65.6 billion in 2021.
Much of that increase came through new construction.
In 2021 alone, an estimated $1.6 billion worth of new construction was added to the tax rolls.
Sunny Isles ranked second for new construction added in 2021, with a total of $1.3 billion in new property built.
Countywide in 2021, property values were up 1.9% excluding new construction and 3.6% with new construction.
Over the past decade, countywide taxable property values have risen 81%, from $186 billion in 2011 to $336 billion in 2021.