Palm Beach County Appraiser, Gary Nikolits, says that after
three years of falling property values, they are likely to be up “in the single
low digits,” in an article in the Palm Beach Post. This year they are positive by less than 1% (at
least heading up).
The long-term budget plan assumes a 1% climb in fiscal 2012,
2% in fiscal 2014 and 3% each following year during the next decade. In the
last three years, there were drops of nearly 1%, 12.4% and 3.4%. He said, “Two years ago we were at or near the
bottom of the market.”
Property tax revenues account for just under $40MM of the
town’s $57.8MM operating budget for this fiscal year.
