NFM property values down 12.46 percent, Bayshore District down 9.25 percent
Lee County property valuations were due in Tallahassee today, and in North Fort Myers, they were down 12.46 in value from last year.
That’s accrording to Property Appraiser Ken Wilkinson, who released figures for the county.
Besides the North Fort Myers drop, the Bayshore Fire District will have a lessor 9.25 percent, with Cape Coral at 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.”
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 is $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. The numbers are due to Tallahassee today.
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.