Property values generally hold steady

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

The Northwest Florida Water Management District will realize a drop of one-third of 1 percent, Burke said.

In addition, each Fire District in the county saw a drop in taxable value.

The Tupelo Fire Zone dropped 1.7 percent; the St. Joe Fire Zone one-tenth of 1 percent; Howard Creek Fire Zone fell 1.5 percent and the Overstreet Fire Zone took the biggest hit at 3.5 percent.

Going back to at least 1982, county property values had not dropped in any single year until 2007, two years after the height of the real estate bubble when property values exploded past $2 billion with a 55 percent increase in 2005.

However, after dropping by more than 20 percent in both 2009 and 2010, the decline steadied.

The two Municipal Services Taxing Units (MSTUs) that fund the local share of the bond for beach renourishment have expired.

The property roll is essentially a historical marker, establishing what the market reflects – based on sales of like properties in the county – as of Jan. 1, 2013.

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