Valuations climb in North fire districts
Preliminary property tax valuations within North Fort Myers’s two fire taxing districts are significantly higher than the early estimates of a month ago.
Preliminary property valuation in the North Fort Myers Fire District increased 5.61 percent, which is higher than the estimated 4.20 percent last month.
The total overall valuation is $3.08 billion, an increase from the $2.92 billion from last year.
Within the Bayshore Fire District, overall taxable valuation is up 7.14 percent, a big bump from the estimated 4.94 percent of last month.
Total taxable valuation is $461.7 million, an increase from the $430.9 million in 2019.
Bayshore Fire Chief Larry Nisbet said this year’s projected increase could mean another $72,000 for the district, good for one full-time firefighter. The new figures could send that number around six figures.
Throughout Lee County, total taxable valuation increased 6.96 percent from last year to $96.59 billion, an increase of $5.87 billion. The taxable valuation of new construction was up $1.91 billion.
An increase in overall property valuation can generate additional revenue to a taxing entity if the current property rate is maintained and no cuts are made to other tax revenue sources. Taxing bodies can opt to adjust the property tax rate to a rollback rate, which would leave revenue at its current level despite the increase in overall valuation.
Kenneth Wilkinson, Lee County Property Appraiser, said that preliminary valuations tend to be higher than the estimated ones, since the roll is still a work in progress. The only time the numbers tend to decrease is due to error, which has happened very rarely in his 40 years at the position.
“If the past teaches us, values tend to go up. Where that might not be the circumstance is if there’s an error,” Wilkinson said. Kenneth Wilkinson, Lee County Property Appraiser, said that preliminary valuations tend to be higher than the estimated ones, since work is still being done. The only time they tend to decrease is because of error, which has happened very rarely in his 40 years at the position.
“If the past teaches us, values tend to go up. Where that might not be the circumstance is if there’s an error,” Wilkinson said.
One year, he discovered a $50 million error and that made a difference in one of the fire districts. Another year in the ’80s a $92 million error was corrected due to overvaluations.
The final figures of all taxing districts will now be sent to Tallahassee for final approval. Wilkinson has never had a transmittal rejected by the state.
TRIM notices are mailed to property owners in August. Property owners will then have 25 days to resolve any disagreement in value with the property appraiser.