The Palm Beach County Property Appraiser’s Office has submitted the 2020 preliminary tax roll to Florida’s Department of Revenue and the local taxing authorities. Palm Beach County-wide, taxable property values increased 5.92 percent from 2019 to 2020. These values are based upon market conditions as of Jan. 1.
Taxing authorities will use these values to help them prepare for their upcoming budgets and to determine their proposed tax rates.
The preliminary tax roll is a systematic listing of information pertaining to the just valuation of all real property within Palm Beach County, for purposes of ad valorem taxation. Highlights include: Total Market Value: $288,618,967,306; Total Taxable Value: $210,322,482,246; Total Taxable Net New Construction: $3,068,713,246; Total Parcel Count: 645,034; and Total Tangible Accounts: 59,450.
“The county’s new construction value surpassed $3 billion with a large number of new residential construction projects added to the 2020 tax roll,” Palm Beach County Property Appraiser Dorothy Jacks said. “As my office continues to monitor the impact of the COVID-19 crisis, any adjustments that were due to market conditions caused by the crisis will be reflected in the 2021 assessments.”
Once the tax roll is approved, usually in late July, the Property Appraiser’s Office will prepare the Notice of Proposed Property Taxes for Palm Beach County residents, which are mailed in mid-August.
This is the second of three certifications of value required by law. A final certification occurs prior to the Nov. 1 tax bill.