Miami Real Estate News - - September 2006.

High property tax bills are unpleasant matters for middle income homeowners

A young woman became a homeowner in Miami Florida after buying a condo unit at The Loft. The Loft is a well known Miami high-rise condominium especially targeted for middle-income workers.
Although the homeowner is happy for purchasing a condo unit in South Florida, had a very distasteful surprise about it. The condo unit this woman purchased was valued for a certain amount of money. Then, the county property appraiser valued the same unit with an additional of many thousands. Taxes together with insurances rates have increased considerable so it might be quite impossible for her to pay and be required to sell the condo unit.  It has been also noticed that many other buyers in the same building have faced similar experiences. City leaders in Miami-Dade County are making efforts to get better the accessibility of a realistic priced housing for middle-income workers.