Tax roll values on Sanibel drop again post-Ian
Captiva sees increase with county
Initial property tax valuations for Sanibel have decreased over 2023 for the second consecutive year.
The Lee County Property Appraiser’s Office released its preliminary estimated tax roll values last week, which indicate a 1.80% drop for the city of Sanibel, but a 9.65% increase for Captiva as part of unincorporated Lee County. Initial valuations for the fire districts also varied depending on island.
“While countywide values are mostly flat, the localized value estimates remain impacted by the recovery from Hurricane Ian,” county Property Appraiser Matt Caldwell said in a statement.
According to the estimates, the city’s taxable value dropped about $82.87 million from $4.61 billion — 1.80% — to $4.53 billion. Assessed value decreased 1.62% to $4.85 billion, down $79.98 million from $4.93 billion. Just value dropped 10.44% to $5.86 billion, down $683.06 million from $6.54 billion.
Also for Sanibel, taxable new construction decreased from approximately $1.73 million to $819,914. However, an increase was estimated for just new construction from $1.73 million to $53.70 million.
County estimates, including Captiva, show about an $11.63 billion rise in taxable value from $120.58 billion — 9.65% — to $132.21 billion. Assessed value rose 8.71% to $153.02 billion, up $12.26 billion from $140.76 billion. Just value climbed 1.50% to $207.06 billion, up $3.05 billion from $204 billion.
Also in the county, taxable new construction dipped from approximately $2.86 billion to $147.63 million, but just new construction rose from $3.28 billion to $5.31 billion. As for the estimated taxable school value for Lee, it increased $5.70 billion to $153.42 billion, up 3.86% from $147.72 billion.
In addition, the initial estimate for the Sanibel Fire and Rescue District decreased year-over-year, while the early valuations for the Captiva Island Fire Control District and Upper Captiva Fire District rose.
The Sanibel fire district experienced a 1.80% drop to about $4.53 billion, down $82.90 million from $4.61 billion. The Captiva district saw a 2.17% increase to $1.40 billion, up $29.76 million from $1.37 billion, and Upper Captiva rose 14.76% to $340.82 million, up $43.85 million from $296.97 million.
“The value estimates provide a starting point to taxing authorities for their annual budget and property tax rate process,” Caldwell said. “The office will continue refining the values and will certify the official values.”
The final numbers will come out before July 1, then be sent to Tallahassee for approval.
To reach TIFFANY REPECKI / trepecki@breezenewspapers.com, please email