Broward County property values continue growing by double digits as the summer budget season approaches.
A new report from the Property Appraiser’s Office shows a slight slowdown in last year’s growth rate for the values used on property-tax bills sent later in the year. Taxable values in Broward grew 11.2% as 2023 began, compared to 11.6% last year.
One municipality blew past the countywide average. Dania Beach saw its tax base increase 24% after the construction of an FPL power facility there. New construction boosted values elsewhere. In Hallandale Beach, $385 million worth of new buildings pushed the growth rate from 11.7% for existing properties to 17.6% overall.
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The report is a preliminary estimate of values as of Jan. 1, with a final analysis due in July.
Marty Kiar, the county’s elected property appraiser, said the sustained growth in real estate prices reflects the high demand for property in South Florida.
“People are coming from freezing states with income taxes. And they’re coming to South Florida and paying top dollar for real estate,” he said. “And they’re doing it all the time.”