Property values generally hold steady

Published: Friday, July 5, 2013 at 09:00 AM.

The news for the city of Port St. Joe stood out.

The city was the only taxing district to show an increase in its tax base, from $276 million to $279 million, an increase of just over 1 percent.

Burke said the increase was primarily the result of the sale of the newly-constructed Dollar General Market store on U.S. Highway 98 and valuations of some commercial lots owned by the St. Joe Company where values needed to be adjusted consistent with current market conditions, Burke said.

“We’ve kind of busted our humps looking at different areas and changing values to where they should be,” Burke said. “There were some St. Joe properties that had not been adjusted in 10 years or more and we readjusted some of those values.”

For the Gulf County School Board, which is not subject to the 10 percent cap on annual increases, the drop in the tax base will represent two-tenths of 1 percent, falling from $1.405 billion to $1.402 billion.

The largest decline came in the city of Wewahitchka, which saw property values fall 7 percent, from $61.6 million to $57.3 million.

Burke said the primary reason for the decline was two larger personal property accounts declining in value.

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