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Property Valuation TRENDS Presented by Dorothy Jacks, CFA, AAS

Property Valuation TRENDS Presented by Dorothy Jacks, CFA, AAS. Palm Beach Chapter Florida Government Finance Officers Association June 20, 2019. 2019 – Palm Beach County by the Numbers. Market Value – $276,910,929,158 Taxable Value – $198,072,878,205

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Property Valuation TRENDS Presented by Dorothy Jacks, CFA, AAS

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  1. Property Valuation TRENDS Presented by Dorothy Jacks, CFA, AAS Palm Beach Chapter Florida Government Finance Officers Association June 20, 2019

  2. 2019 – Palm Beach County by the Numbers • Market Value – $276,910,929,158 • Taxable Value – $198,072,878,205 • Net New Construction - $2,408,951,888 • Percent Increase (taxable value) – 5.73% • Total Parcel Count – 641,485 • Total Tangible Accounts – 59,633

  3. % Annual Change in Market and Taxable ValuesAll Real Property 2010-2019

  4. % Annual Change in Market and Taxable ValuesSingle Family, Townhomes and Villas 2010-2019

  5. % Annual Change in Market and Taxable ValuesCondominiums 2010-2019

  6. % Annual Change in Market and Taxable ValuesImproved Commercial Properties* 2010-2019 *Includes Multifamily, Commercial and Industrial properties

  7. TRENDS – in Palm Beach County • Continued steady increase in Value • Rise of the Apartments • Fast Food renovations • Downtown cores • Hotels • Industrial – Fulfillment Centers

  8. TRENDS – NEW COMMUNITIES • Westlake – 3,788 acres -4,546 units (3,446 SF, 600 MF and 500 age restricted) -3,000 students (College) -150 rooms (Hotel) -500,000 sq. ft. (Commercial) -1,500,000 sq. ft. (Economic Development Center) -150,000 sq. ft. (Private Civic) -50 acre Park

  9. TRENDS – NEW COMMUNITIES • Avenir – 4,762.9 acres -3,900 units (2,690 SF, 250 MF and 960 age-restricted) -400,000 sq. ft. (Commercial) -200,000 sq. ft. (Medical Office) -1,800,000 sq. ft. (Professional Office) -300 Room (Hotel) -55 acre Park -Elementary School

  10. 2019DATA ESTIMATES

  11. Percent Change 2018-2019

  12. Percent Change 2018-2019

  13. PAPA UPDATE:E-FILE

  14. PAPA UPDATE:PORTABILITY

  15. Notice of Proposed Property Taxes 2019New Look…

  16. The OLD Notice

  17. The NEW Notice – Side 1

  18. The NEW Notice – Side 2

  19. Thank you! Dorothy Jacks, CFA, AAS Palm Beach County Property Appraiser

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