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8/21/2009 - 2009 County Property Values Down Sharply

Preliminary 2009 Palm Beach County appraised values and proposed taxes are now available online.

You can find the information for your property by clicking here, selecting the Owner option, and then entering the owner's name of the property, last name first.

What you will find is that the appraised value of your Green Cay Village property is down approximately 50% from what you paid for it.

The only good news is that your county taxes will also be down by about 50% from what you paid last year.

The long term effect of this dramatic drop in our property values, as I see it, is that it will be impossible for anyone to sell their home without taking a significant loss - so much so that the best option, if one must move, will be to lease their home.

The effect on homeowners continuing to live here should be minimal with the only practical impacts being lower property taxes and the need to be more vigilant in maintaining the community's standards as more homeowners lease their units over time.

Peter Schulz - Editor - Email TCM

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