Taxable Home Values Drop In Dade & Broward

Last year Miami-Dade voters elected Pedro Garcia to be their property appraiser. Many thought he would realistically price their homes. Well be careful what you ask for--both Miami-Dade and Broward county property assessments are down roughly 13 percent. And in some cities it's far worse.
Homeowners hit the hardest by depressed prices in Broward County include Parkland, Tamarac and Hallandale Beach. In Miami-Dade the numbers are even more alarming. Homestead leads the county in values taking a nosedive down more than 25% in just one year. Surprisingly North Bay village and Cutler Bay are not far behind. Octavio Lopez, a North Bay Village resident, couldn't make sense of the number. "I really don't understand how they came to those conclusions," said Lopez. "Again, it's a shock. It's a total shock."