Property values in Palm Beach County are still rising, but not as quickly
As experts predicted, the nearly double-digit increases in the Palm Beach County tax rolls slowed this year after a three-year ride.Property values rose 7.7% countywide, a slower increase than in the past three years when values rose 9.6% in 2024, 13.5% in 2023 and 15% in 2022. Not since the 5.6% increase in 2021 has the tax roll increase been lower.
The countywide valuation stood at $209 billion in 2020. The preliminary calculation for 2025 puts it at $341 billion, up 62%. Cities account for $237 billion of the county’s value, up 62% from $146 billion in 2020.
It’s important because local governments use the valuations to determine the tax rate residents pay to cover the cost of police, fire-rescue, libraries, schools, garbage pickup and other municipal services. Gov. Ron DeSantis has proposed eliminating property taxes without suggesting a way to replace the money to provide municipal services.
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I would suppose the City of Lake Worth will stop moaning, blaming everything on the Governor and figure it all out. Perhaps they can reduce waste in certain departments thus cutting a lot of very expensive overhead. At the moment, they don't know how to fix a sidewalk without cutting down an old Oak tree.
And when you talk to a Realtor, you are told that property values are going down.
