WEST PALM BEACH — Palm Beach County-wide property (taxable) values have increased 5.81% from 2020 to 2021, according to the 2021 preliminary tax roll that the Palm Beach County Property Appraiser’s Office submitted to Florida’s Department of Revenue and to local taxing authorities today. These values are based upon market conditions as of January 1, 2021.

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. Taxing authorities use these values to prepare their upcoming budgets and to determine their proposed millage (tax) rates.

Highlights include:
• Total Market value: $308,676,097,891
• Total Taxable value: $222,113,529,357

• Total Net New Construction Taxable: $3,235,675,183
• Total Parcel Count: 648,111
• Total Tangible Accounts: 58,893

“Palm Beach County’s overall market value has surpassed $300 billion,” said Property Appraiser Dorothy Jacks, CFA, AAS. “It may be difficult to recall the uncertainty of COVID-19’s disruptions on real estate markets last spring, especially as residential values saw a strong rebound at the end of 2020. However, other sectors continue to recover at a slower pace.”

Once the tax roll is approved, the Property Appraiser’s Office will prepare the Notices of Proposed Property Taxes and Non Ad Valorem Assessments. This individualized letter shows each Palm Beach County property owner the value of their property, proposed tax rates, and public hearing information. These letters are mailed in mid-August.

This is the second of three certifications of value required by law of the Property Appraiser’s Office. A final certification occurs prior to the November 1 tax bill.