My office is busy preparing the 2025 Tax Roll, a report of the combined value of all the property (real and tangible) in Palm Beach County as of January 1.
This report will reflect market data gleaned from property sales last year as well as new construction, demolition, land splits, land combinations, ownership changes, and additions or removals of exemptions.
The numbers cited below are as of January 9 and are subject to change.
Our estimates show modest increases in sales volume over last year, indicating stabilization in the market.
• Commercial sales are up from 818 to 880 or 7.6%
• Condo sales are up from 16,877 to 17,417 or 3.2%
• Residential sales are up 17,846 to 18,402 or 3.1%
New construction reflects the growth of our county as an estimated 5,000 new structures will be added to the 2025 Tax Roll. The rate of growth in single family homes is slightly down compared to last year. While more condos are projected be added this year than last, fewer new commercial buildings will be added.
• New Single Family Homes – 3,512 down 1.5% from 2024
• New Condominium Units – 1060 up 9.5% from 2024
• New Commercial Buildings – 197 down 28.1% from 2024
New construction numbers represent property that has never been taxed before, adding new value to the 2025 Tax Roll. This contributes to the tax base while sharing the tax burden.
The deadline to file for a homestead exemption is March 3 this year. This is an excellent time of year to review your homestead exemption status and examine additional exemptions that may yield tax savings. In this month’s newsletter, you will find information to help you do just that. I hope you find it useful.
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