This time of year every county Property Appraiser across the state tallies the tax rolls and sends a report to the state detailing the value of all the land in each county. Towns, cities, and other taxing agencies use the numbers to set their budgets for the next year and to determine what tax rate to set.
But the numbers provide more than that; they also offer a window into what happened with land values across the state during the year. GrowthSpotter took a look at the taxable land values in four Central Florida metro counties, Orange, Seminole, Lake, and Osceola, and compared 2015 numbers with 2014 to get a reading on where growth was hot, determined by increasing values.
There are a few trends noticeable in Orange County’s taxable property value increases in the past year. No. 1 might be the impact Disney’s improvements are making on the tax roll. Bay Lake and Lake Buena Vista, two taxing authorities related to Disney, are among the biggest gainers in value from 2014 to 2015.
|ORANGE COUNTY||Total Taxable Value 2015||Yearly Percentage Change|
|Lake Buena Vista||2,152,293,703||14.00%|
Another noticeable trend is the increasing values of in-town living with older neighborhoods like Belle Isle, which had the largest percentage increase in taxable property values in Orange County. It could be skewed by a single transaction, but older neighborhoods are making a comeback. The City of Orlando’s jump in values is tied to that trend in neighborhoods such as Thornton Park, as well as the many apartment and condominium communities moving onto the tax roll.
Seminole County’s yearly percentage changes were relatively modest compared to other counties, but the small county’s more established neighborhoods, such as Altamonte Springs and Casselberry are moving closer to build-out. However Lake Mary, Oviedo, and Sanford, where there’s still room for growth to flourish post-recession, posted the larger property value changes.
|SEMINOLE COUNTY||Total Taxable Value 2015||Yearly Percentage Change|
Lake County’s growth came mostly from the South. “The South Lake region as a whole has performed very well in market value increases and has led the county in new construction value,” said Michael W. Prestridge, Lake County Property Appraiser’s Chief Deputy. “New construction has been the primary driver of tax roll growth. Buyers are attracted to the area for local amenities, the hills and lakes, and easy transportation to major job centers. Plus, they can get a lot of house for the money.”
|LAKE COUNTY||Total Taxable Value 2015||Yearly Percentage Change|
|Howey in the Hills||$73,587,356||6.09%|
Osceola County’s taxable property growth was strong for the group at 7.5 percent lead by St. Cloud’s 11.7 percent increase in property values, some thanks to the city’s aggressive annexation of new land. The Reedy Creek District, part of the Disney property, had a small gain as new construction was concentrated in the Orange County portion of the park’s land.
|OSCEOLA COUNTY||Total Taxable Value 2015||Yearly Percentage Change|
|Reedy Creek District||$580,286,381||3.16%|
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