Completed and under-construction condominiums along a waterfront in Miami-Dade, South Florida.

Miami-Dade Property Value Growth Slows; Condos Anchor Market

Miami-Dade's taxable value growth cooled to 5.4% in 2026 as older condos slowed and new construction activity moderated, the Property Appraiser said.

By Brian D'Antoni July 16, 2026 5 min read

Updated Oct. 8, 2026.

Miami-Dade taxable property values grew 5.4 percent in 2026, a slower pace than recent years, as older condominiums and a moderation in new construction weighed on growth, according to the county Property Appraiser.

The Certified Taxable Value Downshift

On July 1, 2026, Miami-Dade County Property Appraiser Tomás Regalado submitted the 2026 Preliminary Certification of Taxable Values, setting the countywide taxable value at $540.1 billion, a 5.4 percent increase from 2025. Taxing authorities use these preliminary values to prepare budgets and set proposed millage rates. Growth was 8.7 percent in 2025 and 12 percent in 2024, NBC6 reported.

In June, the Property Appraiser's office had estimated 5.5 percent growth and a $540.7 billion taxable value, NBC6 reported. "As I anticipated last year, Miami-Dade's real estate market has begun to stabilize after several years of extraordinary growth," Regalado said when the July roll was released.

Regalado also pointed to "a moderation in new construction activity." The July 1 roll includes about $7.1 billion in taxable value from new construction, according to the Property Appraiser's report by property type.

Condominium Market Drags Down Valuations

The condominium sector is the main factor slowing taxable value growth. Condominium and co-op values in Miami-Dade fell 1.2 percent in 2026, following a 0.6 percent decline in 2025, the Miami Herald reported.

Regalado told the Miami Herald that the luxury condo market is flat while older condos are losing value. In his July release, he said "older, non-luxury condominium properties" had seen "a noticeable slowdown compared to the strong appreciation seen in 2023 and 2024."

State condo safety laws passed after the 2021 Champlain Towers South collapse in Surfside apply most directly to older buildings. Senate Bill 4-D (2022) and Senate Bill 154 (2023) require milestone inspections and structural integrity reserve studies, and bar associations from waiving or reducing reserves for certain structural items. Many associations have raised fees or levied special assessments to meet the rules.

High-end markets held up. In Bal Harbour and Surfside, where average condo values exceed $2 million, taxable values rose 1.2 percent and 0.7 percent in 2026, the Miami Herald reported.

Regional Shift Across Broward and Palm Beach

Neighboring counties show related trends.

In Broward County, the median sale price in May 2026 was $470,000, roughly flat from a year earlier, while active listings rose 23.7 percent, according to Redfin data compiled by Pure Equity. More inventory gives buyers more room to compare options.

In Palm Beach County, Property Appraiser Dorothy Jacks submitted preliminary taxable values showing a 7.35 percent increase from 2025, including about $5.5 billion in net new construction taxable value, her office said. The Palm Beach Post tied the growth to a housing construction boom. Condominiums have been slower to sell: in February 2026, Palm Beach County had 9.3 months of condo inventory, compared with 5.2 months for single-family homes, Miami Realtors reported.

Market Rebalancing and Future Fiscal Headwinds

Some local real estate executives see the cooling as a needed correction. Ron Shuffield, chief executive of Berkshire Hathaway HomeServices EWM Realty, told the Miami Herald the market is taking a breather. He said double-digit annual price growth was not sustainable, and that the current shift differs from the 2008 crash, when median Miami-Dade home prices dropped more than 60 percent.

A property tax measure is also on the ballot. On June 2, 2026, the Florida Legislature passed CS/HJR 1F, a proposed constitutional amendment for the Nov. 3, 2026 ballot, according to the Florida Senate bill record and NBC6. If approved by 60 percent of voters, it would raise the non-school homestead exemption from $50,000 to $150,000 in 2027 and up to $250,000 in 2028, and lower the non-homestead assessment cap from 10 percent to 5 percent starting Jan. 1, 2027.

Regalado said the stabilizing market gives local governments a chance to evaluate their proposed budgets and tax rates carefully. "Responsible fiscal planning is especially important during a period of market stabilization," he said.

Sources

Key Facts for Owners and Search

What did Miami-Dade certify for 2026?

On July 1, 2026 the Miami-Dade County Property Appraiser submitted preliminary taxable values of $540.1 billion, up 5.4 percent from 2025. Growth was 8.7 percent in 2025 and 12 percent in 2024, NBC6 reported. Taxing authorities use the preliminary values to prepare budgets and set proposed millage rates for the coming fiscal year.

What is driving the slowdown?

Property Appraiser Tomás Regalado pointed to older, non-luxury condominiums and a moderation in new construction. Condo and co-op values fell 1.2 percent after a 0.6 percent decline in 2025, the Miami Herald reported, while Bal Harbour and Surfside rose. Post-Surfside laws require milestone inspections and reserve studies for older buildings.

How do Broward and Palm Beach compare?

Broward's median sale price in May 2026 was $470,000, roughly flat from a year earlier, with active listings up 23.7 percent, according to Redfin data. Palm Beach County reported a 7.35 percent taxable value increase, including about $5.5 billion in net new construction. Palm Beach condos had 9.3 months of inventory in February 2026.

What property tax ballot measure is coming?

CS/HJR 1F, passed June 2, 2026 for the Nov. 3, 2026 ballot. If approved by 60 percent of voters, it would raise the non-school homestead exemption from $50,000 to $150,000 in 2027 and up to $250,000 in 2028, and lower the non-homestead assessment cap from 10 to 5 percent from Jan. 1, 2027.

What should owners take from it?

Executives such as Ron Shuffield describe the cooling as a breather, since double-digit annual price growth was not sustainable. Owners should check their TRIM notices when they arrive and review condo reserve plans. Regalado urged local governments to weigh the effect of their budget and tax rate decisions on taxpayers.

Filed Under Local Development South Florida Miami-Dade Property Values Condo Market Deceleration