Property Appraiser Pedro J. Garcia Releases the 2022 June 1st Estimates of Taxable Values for Miami-Dade County
Miami-Dade County, FL – The Miami-Dade County Property Appraiser Pedro J. Garcia releases the 2022 June 1st Estimates of Taxable Values to the taxing authorities. The countywide estimated taxable value for 2022 is $372.3 billion, an increase of over $34 billion or 10.2% when compared to 2021.
As expected, a very strong real estate market continues in Miami-Dade County. The strong market in all property types is evident by the double-digit growth of the countywide taxable value, which has not been seen since 2007.
The countywide new construction value increased over $5 billion for the second consecutive year. The City of Miami has the largest increase in new construction with approximately $1.7 billion. However, the new construction values for Sweetwater and Miami Gardens of approximately $848 million and $341 million, respectively, are due primarily to annexations that occurred during the year.
“I'm glad to see we have a strong real estate market. However, I am concerned for the average homeowner. With an increase of over $34 billion in taxable value, most homeowners will see an increase in their property taxes. I urge all taxing authorities, such as the cities, county and school board, to reduce their millage rates in order to help the average homeowner. A small reduction of 3% in the tax rate can make the difference between a tax increase and no increase for homeowners,” said Property Appraiser Garcia.
The June 1st estimate is provided to the taxing authorities to assist them with their budget preparations. However, the values released on June 1st are only estimates, which are subject to change. The official certification date for the 2022 assessment roll is on July 1st.
Property Appraiser Garcia encourages property owners to review their individual property values online at http://www.miamidade.gov/pa/. Property owners who have questions or would like to review their assessment with staff may call our offices at 305-375-4712 or schedule an appointment with us online.