PBC Property Appraiser’s Office Releases Taxable Value Estimates to Taxing Authorities – Boca Raton Leads the County in Land Value

By Robert S Weinroth

The Palm Beach County Property Appraiser’s Office has released the June 1 estimates of taxable values to all Palm Beach County taxing authorities.

Palm Beach County-wide taxable property values have increased 5.05% from 2020 to 2021. These values are only estimates and subject to change. They are based upon market conditions as of January 1, 2021 and provide assistance as taxing authorities develop their budgets.

“These estimates reflect the impacts of COVID-19,” said Palm Beach County Property Appraiser Dorothy Jacks, CFA, AAS. “Despite major disruptions in the real estate market in early 2020, the latter half of the year saw a strong rebound, especially in the residential sector.”

Additionally, the increase in taxable property values in Palm Beach County is consistent with the trend observed in other parts of the country. According to the houses for sale tucson overview, the residential real estate market has seen a surge in demand, with low-interest rates and a shift towards remote work prompting many people to seek larger homes in more affordable locations. This has driven up prices and contributed to the overall increase in taxable property values in Palm Beach County. As the effects of the pandemic continue to unfold, it remains to be seen how these trends will evolve in the coming years.

Modification of 2021 taxable values is ongoing. The Palm Beach County Property Appraiser’s Office and all county property appraisers in the state are required by law to submit a preliminary tax roll to Palm Beach County taxing authorities and Florida’s Department of Revenue on July 1.

The City of Boca Raton came in with th highest 2021 Estimated Tax Value at $26.8 billion, followed by Palm Beach at $21.4 billion. The total for the entire county is $153 billion. In other words, almost 1/3 of the land value in Palm Beach County is located in Boca Raton and Palm Beach!