Projects

In a highly developed, urban market like South Florida, it is rare to find land that has never been developed. Redevelopment is a term used to describe any new construction on a site that has pre-existing uses. It is a process of land development that revitalizes the physical, economic, and social fabric of urban space. Basically, it reflects new investment.

The City's tax base can have a significant impact on resources available in formulating the budget. The Assessed Value is established on January 1 of the tax year and reflects the growth/decline that occurred in the previous calendar year. For FY2025, the City's tax base increased by 8.86%, reflecting $256.8 million of net new construction during 2023.

The Dania Beach CRA has been experiencing a similar trajectory of significant compound growth, as reflected in the table.

Since the Taxable Value Increment reflects the growth of property values from the beginning of the CRA (Base Year Tax Value), it is an effective measure of CRA performance. So, what do the numbers tell us? By the table above, the Taxable Value has increased every year since 2014. Over the last 10 years, by tax roll year 2023, the Taxable Value in the CRA was almost double (183.21%) the Base Year Taxable Value.

The trend of the growth of the Increment is easier to see in the graph. Not only is the Increment growing each tax roll year, but it is growing at an accelerated rate – slope of the curve is increasing over time.