Property values have gone up considerably across Broward County, with some of the biggest cities and smaller communities all seeing increases.
Countywide, there has been a 8.77% increase in taxable value, according to newly released property appraiser’s figures, based on sales from Jan. 1, 2023, through Dec. 31, 2023.
Larger cities drew notable gains, such as Fort Lauderdale, at 7.81%, and Pompano Beach, at 10.75%. And some smaller municipalities, such as Sea Ranch Lakes, at 17.26%, and West Park, at 12.6%, saw some of the highest increases in their taxable value.
What could be contributing to the growth in value? Broward County is built out, and demand remains high for property, said Broward Property Appraiser Marty Kiar. With the county being a desirable place to live, all of that equals increased values. “That keeps property value strong,” he said of the multiple factors.
Here’s a look at how Broward’s 31 cities fared with increasing property values, a percentage computed mostly for homes. The figures also include businesses, and new construction, added to the tax rolls.
Coconut Creek
— Increase in taxable value from last year: 6.99%
— Median home sale price: $511,500
Cooper City
— Increase in taxable value from last year: 9.21%
— Median home sale price: $610,000
Coral Springs
— Increase in taxable value from last year: 8.66%
— Median home sale price: $625,000
Dania Beach
— Increase in taxable value from last year: 6.94%
— Median home sale price: $477,500
Davie
— Increase in taxable value from last year: 8.07%
— Median home sale price: $585,000
Deerfield Beach
— Increase in taxable value from last year: 8.85%
— Median home sale price: $419,000
Fort Lauderdale
— Increase in taxable value from last year: 7.81%
— Median home sale price: $645,000
Hallandale Beach
— Increase in taxable value from last year: 9.53%
— Median home sale $420,500
Hillsboro Beach
— Increase in taxable value from last year: 6.59%
— Median home sale price: $836,000
Hollywood
— Increase in taxable value from last year: 9.20%
— Median home sale price: $490,000
Lauderdale-by-the-Sea
— Increase in taxable value from last year: 8.06%
— Median home sale price: $1,369,700
Lauderdale Lakes
— Increase in taxable value from last year: 6.76%
— Median home sale price: $395,000
Lauderhill
— Increase in taxable value from last year: 10.08%
— Median home sale price: $360,000
Lazy Lake
— Increase in taxable value from last year: 4.36%
— Median home sale price: $1,240,000 (note there was only one sale in 2023)
Lighthouse Point
— Increase in taxable value from last year: 10.03%
— Median home sale price: $1,175,000
Margate
— Increase in taxable value from last year: 9.73%
— Median home sale price: $400,000
Miramar
— Increase in taxable value from last year: 8.25%
— Median home sale price: $560,000
North Lauderdale
— Increase in taxable value from last year: 9.35%
— Median home sale price: $335,000
Oakland Park
— Increase in taxable value from last year: 14.26%
— Median home sale price: $487,800
Parkland
— Increase in taxable value from last year: 8.39%
— Median home sale price: $914,750
Pembroke Park
— Increase in taxable value from last year: 12.03%
— Median home sale price: $260,000
Pembroke Pines
— Increase in taxable value from last year: 8.22%
— Median home sale price: $535,000
Plantation
— Increase in taxable value from last year: 9.45%
— Median home sale price: $595,000
Pompano Beach
— Increase in taxable value from last year: 10.75%
— Median home sale price: $440,700
Sea Ranch Lakes
— Increase in taxable value from last year: 17.26%
— Median home sale price: $2,900,000
Sunrise
— Increase in taxable value from last year: 8.14%
— Median home sale price: $440,000
Southwest Ranches
— Increase in taxable value from last year: 11.87%
— Median home sale price: $1,400,000
Tamarac
— Increase in taxable value from last year: 11.39%
— Median home sale price: $355,000
West Park
— Increase in taxable value from last year: 12.60%
— Median home sale price: $370,000
Weston
— Increase in taxable value from last year: 7.01%
— Median home sale price: $795,000
Wilton Manors
— Increase in taxable value from last year: 9.47%
— Median home sale price: $749,000
Unincorporated Broward
— Increase in taxable value from last year: 7.24%
— Median home sale price: $360,100
Using the property data
Cities, the County Commission, School Board, hospital districts, the Children’s Services Council and various taxing agencies will use these latest figures to now figure out how much money they’ll collect this fall in property taxes. City Halls will use money collected from property taxes to fund everything from police and fire to maintaining parks and repairing potholes.
There’s no way to predict if the continued upswing will last forever.
“The only thing certain about the real estate market is that it’s uncertain,” said Property Appraiser Kiar. “You never (know) what’s going to happen year to year.”
Lisa J. Huriash can be reached at lhuriash@sunsentinel.com. Follow on X, formerly Twitter, @LisaHuriash