Preliminary numbers show property values rose by about 11 percent last year in Broward, a number that represents a cooling of the market. It compares with 19 percent growth during the previous year, aided by new construction. “This is the last year of this double-digit kind of increase in value, because prices are going down, not up,” Property Appraiser Lori Parrish said. “This is the last year. It is the tail end of the skyrocketing prices.” The value of residential and commercial property in Broward grew by about $17 billion to nearly $175 billion. Cities use the numbers to begin their annual budgeting, a process that is hindered this year by uncertainty over how the state Legislature will address property tax reform. The cities with the largest percentage increases in assessed property value – at least 12 percent – include Dania Beach, Hallandale Beach, Hollywood, Lauderdale Lakes, Lauderhill, Miramar, North Lauderdale, Parkland, Tamarac, West Park and Wilton Manors.

Copyright (c) 2007, The Miami Herald, Amy Sherman. Distributed by McClatchy-Tribune Information Services.