Property values dip for some, soar for others
Lee County overall growth pegged at 6-percent
FLORIDA WEEKLY STAFF REPORT

Source: Lee County Property Appraiser

Property values slowed from the breakneck pace of the past few years when double-digit increases were the norm. In fact, some areas of Lee County actually lost value.

Cape Coral saw its total real estate value drop 4 percent based on estimates from the Lee County Property Appraiser released last week. Lehigh Acres tumbled nearly 10 percent. Last year the Cape increased more than 50 percent while Lehigh was close behind with a 40-percent rise.

But some areas of Lee County continue to show steady growth.

San Carlos, Estero, Fort Myers Shores and the City of Fort Myers each grew more than 15 percent.

Overall, the county grew at 6 percent after the previous year's increase of nearly 40 percent. Taxable value in Lee is now more than $95 billion compared to $89.6 billion in 2006.

Property appraisers will finalize their estimates by July 1.

Counties and municipalities use the estimates to plan their budgets. It's a direct indicator of the amount of property tax revenue each will receive.

Most governments in the past few years have held the line on property tax rate increases because of double-digit increases in property value.