The City of Coral Gables saw a 5.4% increase in taxable property value for 2025, according to preliminary figures the Miami-Dade County Property Appraiser’s Office released June 1. The city’s total estimated taxable value rose from $24.57 billion in 2024 to $25.90 billion this year—an increase of approximately $1.33 billion.

This annual estimate is one of the most closely watched benchmarks in the municipal budgeting process. It signals how much revenue the city could expect to raise through property taxes in the coming fiscal year, assuming tax rates remain unchanged.

The growth in Coral Gables was more than a third less than the countywide average of 8.5%. Across Miami-Dade, estimated taxable property value reached a record $511.8 billion, driven in part by $8.2 billion in new construction and sharp increases in select municipalities. Among the cities that outpaced Coral Gables were Hialeah (10.7%), El Portal (33.4%), and Indian Creek (23.2%).

New construction accounted for $45 million of Coral Gables’ 2025 increase. That figure suggests a relatively modest pipeline of new development last year compared to other municipalities experiencing large-scale residential and commercial expansion. There are currently 18 projects in the pipeline in Coral Gables. 

The estimate comes amid a period of both economic growth and political scrutiny over development in Coral Gables. Earlier this year, the city saw contentious commission races in which the scale, pace, and style of local construction became central campaign issues.

At stake in the coming weeks will be how city leaders translate these valuations into budget priorities. While higher property values can create new fiscal space for investments in infrastructure, public safety, and services, they also often lead to debates about whether to adjust millage rates in response.

The June 1 estimates are not final. State law requires the Property Appraiser to certify the tax roll by July 1. The final certification will reflect any changes made in the appeals process or new data collected between now and the end of the month.

“The June 1st Estimates of Taxable Values assist the taxing authorities with their budget preparations,” the Property Appraiser’s Office stated in its summary memo. “However, the values released on June 1 are only estimates, which are subject to change.”

Even at this early stage, the numbers offer insight into broader regional trends. Luxury enclaves such as Golden Beach and Bal Harbour continued to post strong growth, and fast-developing areas like Florida City and Medley saw double-digit increases, underscoring the dynamic property landscape across the county.

For Coral Gables, the 5.4% growth marks the second consecutive year of single-digit increases.

The commission is expected to begin formal budget workshops later this summer. Decisions on how to set the millage rate—and whether to hold it steady or adjust it downward in light of increased values—will determine the tax burden on homeowners and the size of the city’s operating budget heading into 2026.

For now, the estimated $25.9 billion figure gives city officials a clearer picture of the fiscal levers available to them. But the debates over how to pull them—especially with a divided commission—are just beginning.