Property values climb higher than expected
The increase in overall property valuations in Pine Island – and Lee County overall – is higher than initially anticipated.
Pine Island’s tax roll valuation is up 2.25 percent, a near $26.8 million increase from 2012, according to numbers within the Matlacha-Pine Island Fire District.
That’s a marked bump from the .39 percent increase projected in June with valuations rising from $1.19 billion to nearly $1.22 billion.
“I think it’s following the trend,” Lee County Property Appraiser Ken Wilkinson said in an earlier interview of valuations in Matlacha-Pine Island. “We’re starting to see increases.”
He believes valuations have likely stabilized.
“I see that trend continuing,” he said of the slightly higher numbers.
Neighboring Cape Coral’s tax roll valuation surged 7.13 percent to $9.538 billion, a more than $634 million increase from 2012, one of the highest increases of any of the 92 taxing districts in Lee County.
Wilkinson had reported in June a preliminary estimate of 5.67 percent, which still was the biggest jump in all Lee County after a 3.83 percent jump in 2012.
Countywide, valuations were up 2.41 percent, also slightly higher than the 2 percent initially projected in June.
The latest report will be sent to Tallahassee for approval.
“It’s not a surprise. The higher number over a month showed we had another month’s work to do,” Wilkinson said.
It’s good news to the people who spend it,” Wilkinson added. “It may not be good news if they don’t change the millage then taxes go up.”
The report issued last Friday provides the numbers upon which the county, its various municipalities and taxing district base their budgetary revenue numbers
In other areas, Fort Myers’ taxable valuation is up 3.68 percent, Sanibel’s taxable valuations went up 1.05 percent and Fort Myers Beach is up 2.22 percent.
In the fire districts, Lehigh Acres’ valuation is right behind the Cape’s in terms of an increase at an even 7 percent, North Fort Myers is up 2.15 percent and Boca Grande is up 1.01 percent.