MIAMI - There is some good news from property appraisers in Miami-Dade and Broward counties: Homes and commercial properties are worth more, and tax revenues from real estate are going to go up a bit.
The down side is that real estate taxes may increase, too.
After the real estate bubble broke three years ago, property values, for the most part, took a nosedive. Now, they are on their way up.
Miami-Dade Property Appraiser Pedro Garcia said that real estate in Miami-Dade County lost $60 billion in value in the past three years, but it has apparently touched bottom and started up again.
The taxable value of property in Miami-Dade, Garcia said, is a little more than $190 billion, representing a hike of almost 2 percent.
Of the 38 cities in Miami-Dade, property in pricey Bal Harbour showed the biggest jump at 35 percent. Among the biggest losers is Homestead with a 3.8 percent drop, but even that is not catastrophic.
In Broward, Property Appraiser Lori Parrish also had good news. The total taxable value of property is $127 billion, nearly a 1.5 percent improvement over last year.
The city with the biggest hike was Cooper City at 8.5 percent. The biggest drop was West Park with a little more than 8 percent.
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