Preliminary tax rolls higher than early estimates, still top last year
The islands’ property tax valuations saw an uptick from the initial figures, an increase over 2017.
The Lee County Property Appraisers office released its preliminary tax roll values on June 29, which reflect a 2.96 percent increase for Sanibel and a 6.12 increase for Captiva as part of unincorporated Lee County. The figures are higher than the 2.51 percent and 5.33 percent, respectively, reported in May.
The preliminary valuations for the fire districts also rose over the earlier estimated figures.
According to the numbers, Sanibel’s taxable value rose approximately $149.44 million – the 2.96 percent – to about $5.20 billion. The assessed value jumped 2.94 percent to $5.49 billion, up $156.70 million from 2017, and the just value improved by 0.78 percent to $6.12 billion, up $47.30 million.
“We always are cautious with the estimates that come out in June,” Mayor Kevin Ruane said.
He noted that there is always an increase when the final figures come out a month later.
“Obviously, I’m a little disappointed in the overall number,” Ruane said, adding that he had expected it to be closer to 3.5 percent or so. “But we don’t generally see a big jump between the two (figures).”
He noted, however, that the city still has low taxes.
“Sanibel continues to have great value and is a great place to come,” Ruane said.
The countywide numbers, which Captiva falls under, show an approximately $4.53 billion rise in taxable value – the 6.12 percent – to about $78.57 billion. Assessed value rose 6.34 percent to $93.22 billion, up $5.55 billion, and just value increased 4.11 percent to $109.64 billion, up $4.33 million.
In addition, the preliminary valuations for the Sanibel Fire District and the Captiva Fire District, along with the Upper Captiva Fire District, have increased year-over-year, according to the information.
The Sanibel district rose 2.90 percent to approximately $5.32 billion, up about $149.72 million from last year. The Captiva district jumped 3.68 percent to $1.45 billion – a $51.59 million increase.
Upper Captiva saw a 9.72 percent hike to about $213.83 million, up about $18.95 million.
According to Lee County Property Appraiser Kenneth Wilkinson, there are a lot of pluses for property owners, but there are also a lot of minuses because of damage caused by Hurricane Irma and it could still affect the numbers.
“I would caution all taxing authorities not to spend it all because we will continue to have reductions. There are things they should be conscious of,” he said. “They shouldn’t have to panic. The law is the law. We work with numbers, and I can’t consider the effect it has on budgets. That’s their problem.”
Wilkinson said he expects the TRIM process to be much busier than normal post-Irma, with more reductions expected with interior flood damage, as well as seawalls.
“We expect the most since 2004 with (Hurricane) Charley. The adjustments for storm damage if it hasn’t been repaired by last Jan. 1 will be recognized,” he said. “The big difference will be interior flood damage, which you can’t see with the aerial or on the street.”
The final figures will be sent to Tallahassee for approval. TRIM notices are mailed to property owners in August; owners then have 25 days to resolve any disagreement with the property appraisers office.