Miami-Dade Sees 8.7% Increase in Preliminary Taxable Property Value for 2025

Miami-Dade's real estate market has shown signs of stabilization with the latest figures from Property Appraiser Tomas Regalado. The preliminary taxable value for the county in 2025 is set at $512.3 billion, marking a hearty 8.7% increase compared to last year. The new construction value alone tip the scales at an impressive $8.6 billion, a significant leap from 2024's $6.3 billion. Despite the growth, Regalado suggests there's a twist in the tale. “The real estate market, after years of growth, appears to have stabilized. The 2025 New Construction value of over $8.6 billion has surpassed last year’s $6.3 billion growth. However, I don’t believe this trend will continue. A value decrease in certain markets will provide relief for taxpayers, unless your local governments increase their tax rates. I urge my elected colleagues to consider reducing their respective tax rates to alleviate the housing crisis,” he mentioned in a recent statement.

As the figures come to light, Regalado advocates for a conscious approach from elected officials. He urges them to consider rolling back tax rates to ease the persistent housing crisis. This increase has forged a lens for policymakers as they prep budgets and deliberate on upcoming millage rates. The preliminary values, essential in shaping fiscal strategies, lay ahead of the Notice of Proposed Property Taxes, which property owners should expect by August 24.

This yearly cycle informs local fiscal planning; governments, the school board, and The Children's Trust among them. They're setting gears in motion to outline their 2025-2026 spending, with these early values acting as a cornerstone. It's a set that unfolds privately, through number-crunching and policy discussions, ultimately revealing itself in the property taxes billed to Miami-Dade residents, as per the Property Appraiser's office.

The Property Appraiser's office is calling on property owners to take initiative, to dive into their individual assessments via the county's online portal. Those with inquiries can reach out directly by phone or by submitting queries online.