Your property tax bill is likely to rise, based on some numbers released last week by the Palm Beach County Tax Appraiser.
The preliminary values released around this time each year, will end up determining how the county and cities adjust their new property tax rates for the next fiscal year.
"It's just a little over 7 percent increase (7.3%) over last year, which is a very healthy number. It's a good indication of a healthy economy and also, quite a bit of it is attributable to new construction."
Property Appraiser Dorothy Jacks says the total taxable value for all properties in local cities and unincorporated areas of Palm Beach County was nearly $177 billion ($176.8 billion).
These values are based upon market conditions as of January 1, 2017 and provide taxing authorities with a crucial element for the process of developing their budgets.
Jacks says the values are subject to change.
This is the first of three certifications of value required (by law) of the Property Appraiser’s Office. A certification occurs in October prior to the mailing of the November 1 tax bill, and a final after all Value Adjustment Board actions are certified.
Photo: PBC Property Appraiser's Office