- Palm Beach County’s market value is now $514.1 billion, up 10% from last year.
- The county’s market value is the highest in Florida outside of Miami-Dade County.
- Market values and taxable values continue to rise across the county, according to the data.
So how much is Palm Beach County worth? Just over $500 billion, or $514.1 billion, which is about 10% more than last year.
Palm Beach County Property Appraiser Dorothy Jacks recently released new data that measures the “fair value,” or fair market value, of all property, including government buildings, places of worship, nonprofits and other properties that aren’t subject to property taxes. Market value is the price an appraiser believes a property would sell for in the marketplace. Market value does not take into account residential tax exemptions, which can significantly reduce a property’s taxable value.
Jax recently provided tax data to county taxing officials to use in calculating tax amounts and rates. Market values have always been much higher, sometimes double. Overall, they’re 62% higher in Palm Beach County.
In Florida, only Miami-Dade County has a higher market value than Palm Beach County. The latest figures mark the first time the county has surpassed the $500 billion milestone. The figures released on Wednesday, June 26, are estimates but are not expected to change significantly. Market values and taxable values were set for more than 640,000 parcels and approximately 60,000 tangible personal property accounts.
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Data shows that market values and taxable values continue to rise across the county, though not as much as in recent years. Jacks said that in Palm Beach County, market values for some building types are beginning to level off, especially oceanfront condominiums that are subject to a new state law requiring regular inspections to ensure safety. Some buildings are expected to need millions of dollars in repairs.
For the 2024 budget, the county appraiser calculated values as of Jan. 1 of each year, meaning he looked at sales data from calendar year 2023. The 39 municipalities have a combined market value of $350 billion, with the unincorporated areas of the county west of Military Trail having a market value of $164 billion.
Boca Raton maintained the highest market value of all municipalities at $56.9 billion, followed by Palm Beach. $$54.9 billion. West Palm Beach’s market value was $37.4 billion, Palm Beach Gardens $30.2 billion, Delray Beach $27.8 billion, Jupiter $27.7 billion, and Wellington $21.2 billion.
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Palm Beach County Market Values by City 2023
- Atlantis: $1,009,572,511
- Belgrade: $1,172,459,434
- Boynton Beach: $15,443,835,673
- sea breeze: $141,843,250
- Cloud Lake: $23,993,489
- Glen Ridge: $80,197,312
- Village golf: $642,046,688
- Green Acres: $5,368,352,953
- Gulf Stream: $2,810,862,518
- Haverhill: $300,981,887
- Highland Beach: $5,331,421,898
- Hypoluxo: $820,143,132
- Juno Beach: $3,345,700,195
- Jupiter Inlet Colony: $1,128,779,318
- Lake Clark Shores: $836,609,413
- Lake Park: $1,707,704,910
- Lake Worth Beach: $5,693,363,433
- Lantana: $2,983,618,967
- Loxahatchee Groves: $1,294,777,559
- Manalapan: $3,457,673,061
- Mangonia Park: $509,837,862
- North Palm Beach: $6,074,662,415
- Ocean Ridge: $2,714,540,506
- Pahokee: $365,372,614
- Palm Beach Shores: $1,140,092,024
- Palm Springs: $3,250,303,320
- Riviera Beach: $12,562,457,386
- Royal Palm Beach: $7,444,882,389
- South Bay: $309,736,378
- South Palm Beach: $891,103,151
- Tequesta: $3,346,506,975
- Westlake: $2,007,126,373
sauce: Palm Beach County Tax Assessor’s Office.
Mike Diamond is a journalist. Palm Beach Postpart of the USA TODAY Florida network, covers government and transportation in Palm Beach County. Contact him at Email:Support local journalism. Subscribe now.
