Property values end seven-year skid

Published: Thursday, July 10, 2014 at 11:39 AM.

Countywide property values rose this year for the first time since 2007.

Gulf County Property Appraiser Mitch Burke last week submitted a preliminary tax roll to the Florida Department of Revenue that shows the overall tax base in the countywide rose 2.6 percent this year, the first increase in the tax base in seven years.

After six years of sometimes double-digit percentage declines, the tax base remained stagnant last year, dropping just three-tenths of 1 percent.

This is the first increase since 2007, when property values dropped for the first time in the county’s history.

Real and personal taxable values rose to $1.379 billion from $1.344 billion last year, still a distance from 2005 when property values in the county topped $2 billion for the first time in history.

On the other side of the coin, though, this year’s tax roll is roughly $64 million above 2003, just prior to the beginning of the run-up in the real estate market.

The numbers are preliminary and had to be submitted by July 1. Preliminary approval by the state should come later this month or in August, Burke said.

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