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NFM property valuation numbers down from last year

By Staff | Jul 6, 2010

In North Fort Myers area, residents are served by either the North Fort Myers Fire District or the Bayshore District. Both districts will be impacted by another year of declining property valuations as reported to Tallahassee July 1.

Lee County property valuations for North Fort Myers were reported down 12.46 percent in value from last year, and the Bayshore Fire District will have less by 9.25 percent, that’s according to Property Appraiser Ken Wilkinson, who released figures for the county.

Besides the North Fort Myers drop, Cape Coral was down 15.66 percent. Countywide, values dropped 14.15 percent.

In North Fort Myers, the final 2009 figures were $2,574,104,506 with a June 1 estimate of $2,160,494,000 and went to $2,253,398,314 one month later to go from the estimate to the numbers sent to the state.

“Unfortunately with the 24 percent reduction we took last year compiled by the 12.46 this year, it forces us to possibly do some restructuring within the fire department as well as going to our residents in November and asking for a .5 percent increase in millage rate,” said North Fort Myers Fire Chief Terry Pye.

To understand what that could mean, it would add $2.50 per thousand dollars to $3 per thousand dollars on properties.

“For example, on a taxable value on a home of $75,000, right now you are paying $187.50 per year, and if we get the millage increase you would be paying $225,” he said.

“We’re working very closely with the union to come up with solutions for the monetary losses as well as looking retirement and possible other reduction in service.”

But service runs haven’t dropped, he said.

“Our runs haven’t dropped the way home values have dropped – we run the same amount of calls and we are striving to maintain the level of service that our community is accustomed to,” said Pye.

In the Bayshore District, $334,950,891 was the final tally given to the state, a 9.25 percent reduction from last year.

Fire Chief Larry Nisbet of the Bayshore Fire District said one of his saving graces comes in the form of a government grant that will help that area’s situation, but it won’t be enough.

“What’s been happening over the last few years may take us eight to 10 years to recover,” he said.

Last year, he worked closely with his firefighters to cover that decrease.

He said that without new construction and the limits to that area’s commercial assessments, he may also have to ask for a millage increase, and go back to his firefighters who made major concessions last year.

He said his district will probably go for a .25 percent millage increase request from taxpayers come November. In real terms, that means about $25 a year per a $100,000 property.

“My paid and volunteer staff are committed to service,” he said. “My firefighters have not had a raise in three years, and given up a lot with concessions and benefits to assist during this hardship. Their commitment makes sure we get to the other side of the trees.”

But like Chief Pye, he said there is a long way to go. “There is light behind the trees but it doesn’t get us out of the woods.”

Cape Coral picture

Cape Coral property values fell 15.66 percent according to Wilkinson, a slight bump from the estimated percentage of 16.28 released June 1.

Total taxable valuation countywide were $55,738,091,451, better than the $54,987,933,000 estimated in June but down more than $9 billion from the final taxable tally of $64,924,773,335 in 2009.

Wilkinson said it is common for the numbers fluctuate between the estimated and preliminary values. He said his office works continuously between the time when the estimated and preliminary numbers are released, and the numbers are then adjusted according to other things, such as trends they spot in the valuations.

Homeowners will have their TRIM notices by mid August, and will then have 25 days to appeal the valuation of their home or property. Final numbers are determined after the completion of the appeals process.

If we can t satisfy the homeowner with an explanation, they have 25 days to file a petition for an independent hearing with a special magistrate, Wilkinson said. In three years, Lee county s total valuation decreased by 55 percent, according to Wilkinson.

He said while that number is extremely dramatic, it does make sense considering the meteoric rise of the county property values during the boom years. It s amazing to me but it makes sense, Wilkinson said. During the run, we led the nation. It s common sense we would lead in decreased value.

Preliminary taxable values in Fort Myers fell 18.56 percent, rising slightly from estimated percentage of 17.78. Sanibel s preliminary taxable values declined by 6.77 percent, slightly better than the estimated figure percentage of 7.43 percent. Fort Myers Beach posted posted a 11.65 percent decrease in preliminary taxable values, better than the 12.68 estimated percentage. And Bonita Springs posted a 13.59 percent decrease in taxable value, slightly better than the 15.47 estimated percentage released in June.