Although property values went up slightly across Dade this year according to tax rolls, Bal Harbour's jumped a whopping 35%. So, is your garden apartment a few doors down from Bal Harbour Shops now worth 35% more? Well, no. That gain in tax-roll value was almost solely due to condo sales at the new, and gargantuan, St. Regis. The rest of BH went up just 3.6%, a 31.4% difference.
How about other places? Indian Creek went up a strong 11.8%, while many towns west of I-95 saw a decline of between 5 and 3 percent. Surprisingly, El Portal, the pretty little town next to Miami Shores, had the second largest loss, at %4.1.
· Bal Harbour leads property value increase [SFBJ]