June 3, 2013
Official property values increased in nearly every part of Broward County, according to Broward’s property appraiser. It was the best real estate report the county has seen since the recent recession. On average, property values rose 3.9 percent.
Thirty Broward County cities posted a value gain, with only one area posting a loss. The highest percentage gain was seen in Cooper City, where both value increases and new, residential developments helped contribute to an impressive 8.6 percent jump.
Real estate in Fort Lauderdale is also following this trend. After posting a solid gain of 4.4 percent, Jack Seiler, the mayor of Fort Lauderdale, stated, “The values confirmed what we believed to be true, that the real estate market’s on the road to recovery and people are feeling pretty confident.”
Seiler also mentioned that Fort Lauderdale has not decided whether the tax rate will remain the same or increase. Real estate taxes are still considerably less than before the recession, so they might bounce back up a bit.
“I think it will be negligible. As we all recover from this downturn, I think the last thing you want to see is an increase in the tax burden,” Seiler explained.
Source: Sun Sentinel
