Broward County, FL (AHN)-Despite Hurricane Wilma and a year-end cool-down in the real estate market, Broward County's tax roll grew faster than ever last year and now totals more than $157 billion.

According to preliminary data released by the Property Appraiser's Office, the taxable value of homes and businesses has increased almost 20 percent.

According to the Sun-Sentinel report, rising real estate prices accounted for $22.5 billion of the $25.5 billion increase, with new construction making up the rest. The largest jump came in Hallandale Beach, where the tax roll grew 32 percent because of higher condo prices and new high-rises along the coast.

The larger tax roll is prompting renewed calls for local governments to return at least part of the windfall to property owners through lower taxes. County and city governments in Broward raked in an additional $890 million in taxes over the previous four years because of the rising real estate values.

Hallandale Beach was among seven cities that posted growth of more than 20 percent just because of higher real estate values. The others were Lauderdale-by-the-Sea, Lauderhill, Lauderdale Lakes, Oakland Park, West Park and Wilton Manors.

http://www.allheadlinenews.com/articles/7003780035

 Invenice Editorial comment:

I hope the Florida Government doesn't get use to this kind of robbery of the citizen. As fast as they take it in it is embezzled.