As has been the case for a few years now, property values in Lee County have shown a low but steady increase in real property values. Is this the current trend for Cape Coral as well? Read more…..
Cape Coral property values have stayed true to slow but reliable increases in real property value till mid 2017. The latest figures show that so far for 2017, the Cape has enjoyed a 9.7% increase in property values over year end 2016. That is impressive. For the last 5 years, the Cape has enjoyed a 2-3% rise in property values, so to hit a 9.7% figure just 8 month’s thru the budget year is very good for both home owners, as well as the tax base revenues for the city.
In response to the increases, the Lee County Property Appraiser has suggested a rollback in the county millage rate to the 91 taxing authorities within the county. It is at least hoped that a roll back in the millage rate will help taxpayers keep more money in their pockets to spend on other things beside taxes.
As far as overall Lee County it appears there is an 8.9% increase in property values for 2017. Other areas like Pine Island are up 7.1% and Sanibel Island up 6.2% and North Ft. Myers up 6.5%.
This is all good news considering that our market lost half of its value during 2007-2009, when the market started to turn around, beginning in 2010.
Remember your TRIM notice comes out in late August, with the tax bill coming out in November. A home owner has 5 month’s to pay the tax bill. Also remember your taxes here are paid in arrears.