Two small towns gain $880M in taxable value as Palm Beach County luxury spreads to suburbs

Two tiny towns gained the most overall property value in Palm Beach County this year thanks to major developments in their boundaries. The taxable value in the 9,000-person town of Lake Park, near North Palm Beach, is expected to jump 38.7 percent compared to last year, largely due to the value of new construction, according to early estimates from the county property appraiser. That means the town’s properties could cumulatively be worth nearly $1.8 billion. The city of Westlake’s value is expected to grow by 23.7 percent, for a value of nearly $2 billion.  While neither comes close to competing […]

This article originally appeared on The Real Deal. Click here to read the full story.