Taxable Values Increase 1.2% for Broward

“Ask Lori…Parrish on Appraisal”

Broward County Property Appraiser Lori Parrish Answers Your Questions…

“Estimate of Taxable Value Increases 1.2% for Broward!”

Dear Lori:

I am a local realtor and would like to know when the 2012 taxable value estimates for Broward County be announced?  I understand your office has forecast an increase in property values across Broward County for the first time since 2007.

                                              S.G., Oakland Park, FL (via email)

Our office released the 2012 Estimate of Taxable Values on June 1, 2012.  As we projected last year, the overall 2012 tax roll value did “remain relatively flat” throughout Broward County when compared with 2011. These numbers resulted in a total countywide taxable value increase of 1.2%, resulting in a total taxable value of $125.2 billion.  However, the 1.2% increase does not apply to every municipality within the county (please keep in mind the 1.2% increase represents the sum total of all taxable value in Broward County).  Some areas saw a greater increase in taxable value than 1.2%, while others still experienced a decrease.  To see a breakdown by taxing authority (County, Municipal, District, etc.), go to our website, www.bcpa.net, click on “Site Index” on the left side of the homepage, then click “2012 Tax Roll Information,”and finally “2012 June 1^st Taxable Value Report.”

The numbers released on June 1 will be virtually identical to the final numbers which will be formally confirmed on the Certification of Tax Roll Value on June 29, 2012.  The only changes, if any, will be to correct any errors discovered over the next 30 days and to extend any exemptions received and approved.  All new 2012 exemptions and Save Our Home portability applications filed to date are already reflected in these numbers.

Sales from the last part of 2011, and the first five months of 2012, reflect slight increases in most parts of Broward County.  This data indicates we may have finally seen the end of this catastrophic real estate crash. Sales price trends seemingly indicate Broward reached overall market bottom a year ago and subsequently are holding steady.  In general, we are starting to see mildly encouraging economic signs. Certainly, some distressed properties or isolated neighborhood pockets may see further value drops. Additionally, communities with larger numbers of condo units may continue to see modest value declines, as condo values traditionally take longer to stabilize and recover than single-family homes and commercial properties.

Sincerely,

Lori Parrish, CFE   

If you have a question for Lori, please email her at lori@bcpa.net or write to her at the Broward County Property Appraiser’s Office, 115 South Andrews Avenue, Room 111, and Fort Lauderdale, FL 33301.  (June, 2012)

Robert L. Wolfe, Jr. CFE
Community Outreach Specialist II
954.357.6871 – office
954.357.8474 – fax
954.445.5732 – cell