On July, 1, 2010, Broward County released its preliminary Taxable Value report for the 2010 tax year. The news is not good. Property values in Broward County plunged 11.7 percent last year — the third yearly drop in a row — marking one of the worst declines in history.

As a result, residents face tax increases and service cuts as local leaders confront budget deficits.

Some of the hardest hit cities in Broward County include:

Lauderdale Lakes - down 20.8%

Lauderhill - down 20.7%

Margate - down 18.8%

North Lauderdale - down 24.3%

Of local interest, Weston was down 10.1%, Southwest Ranches was down 5.6%, Parkland was down 7.3% and Davie was down 8.1%.

Foreclosures are among factors driving property values downward. Last year Broward logged 14,264 foreclosures. So far this year, there have been 7,766. Thousands more foreclosure cases are piling up at Broward Circuit Court.

The tax roll reflects property values as of Jan. 1, 2010, based on last year's sales and activity.