According to the Cape Coral Breeze Newspaper, overall property valuations in Lee County are about 2% higher than projected since Property Appraiser Ken Wilkinson released the estimated 2014 Tax Roll Values. In Cape Coral, property taxable values increased by 8.63% . Fort Myers is at 9.2%, Fort Myers Beach is up 6.6%, Bonita Springs 8.3% and Sanibel saw a 4.82% increase in taxable values.
"The Lee County market lost half of its total value from 2007 until the market started to turn last year", according to Wilkinson. The annual tax bills start arriving in mailboxes in November.
Tom: As mentioned numerous times, assessed values are approximately 2 years behind actual market values. According to all sales data, our local market began to increase in Jan of 2011, not last year. This is good news for anyone who has bought a home in the past few years, or over the next few years. The bad news will come when the market drops and property taxes will continue to rise for a few years, as happened in 2007 through 2009.
For our newer clients: Property taxes are sent out in November for the current tax year, but are not due until the end of March. A property owner can save 1% per month for each month they pay early, beginning in November.