Rising Home Prices Fuel Widening Tax Base in South Florida

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Real estate all over Palm Beach Country, including Waterfront Properties and Club Communities’ northern niches, has improved in value.

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Jupiter, Palm Beach Gardens, North Palm Beach and Singer Island saw property-value growth, as well, and Waterfront Properties and Club Communities’ team of sales specialists are seeing the glowing effects of the trend.

The tax base in Palm Beach County jumped ambitiously in 2012, coming in higher than Property Appraiser Gary Nikolits expected.

Nikolits’ office reported the value of taxable property in the 38-city county increased by 3.7 – a whole 7/10th of a percent higher than anticipated. By the numbers, the county reaped $129.7 billion in taxes on viable real estate in 2012, compared with $125.1 billion in the previous year.

The good news portends a positive future for the real-estate market and the prices of homes for sale in Jupiter and surrounding municipalities. Jupiter is one of 34 municipalities in the county that experienced property-value improvements in 2012, with the remaining four staying flat or falling slightly. Nikolits’ office said the 2012 improvements mark the second consecutive year of rising property values in the county.

Waterfront Properties and Club Communities welcomes the news from the property appraiser’s office and views it as a sign of a mending market in an area with so much to offer. Whether homeowners buy Juno Beach condos for sale or townhouses in Abacoa, they are surrounded by an environment rich in culture, entertainment, surf-and-sand, and dining and nightlife.

The municipality that saw the most growth in 2012 is Palm Springs, whose year-over-year property values escalated by 7.4 percent. Jupiter, Palm Beach Gardens, North Palm Beach and Singer Island saw property-value growth, as well, and Waterfront Properties and Club Communities’ team of sales specialists are seeing the glowing effects of the trend.

Consumer confidence is up, and both homebuyers and homesellers are moving forward with their real-estate goals and no longer are waiting in the wings. Also, homebuilders are proceeding with plans not only because of the real-estate improvements, but also because economy has rounded the corner.

For information about buying, selling or listing a home with Waterfront Properties and Club Communities, call 561-746-7272.

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Rob Thomson
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