He Miami-Dade real estate market experience a notable increase in the value of your taxable properties over the past year.
According to an official report published by the Property Appraiser’s office county, total taxable values now reach $469 billion, representing an increase of $43 billion compared to 2023.
This growth is due, in part, to the new constructions which have contributed $6.1 billion to the total increase. In percentage terms, the total taxable value in Miami-Dade has increased 10% in the last year and an impressive 53% since 2019, the year before the pandemic.
In the case of propertysuch as houses or apartments, the tax base represents the value of the property that is taken as a reference to determine the total tax payable.
This increase in the tax base implies a proportional increase in the county’s tax revenue, allowing for greater investment in infrastructure and public services.
In May, the 2023 balance of the Miami Association of Realtors indicated that the city attracted buyers from 52 different countries. The main investors in this sector come from Colombia (15%) and Argentina (14%).
Official data indicate that Florida is consolidating itself as a magnet for foreign investors interested in the United States real estate market.
The growth trend is constant in taxable values during recent years. Since 2019, the total value has shown a significant increase year over year, solidifying Miami-Dade as a booming real estate market.
