PSL Property Values Increase For Third Year In A Row
Property values countywide are up 7% from last year, with Port St. Lucie leading the way with a double-digit increase, according to the Property Appraiser’s Office.
“For the seventh consecutive year, St. Lucie County is benefiting from a positive increase in real estate values due to a thriving economy and growth in our population,” Property Appraiser Michelle Franklin said in a news release announcing the 2019 estimated taxable value of real estate and personal property.
Taxable values in Port St. Lucie jumped by 10.5%, from $9.7 billion last year to $10.6 billion, this year, the largest increase in the county.
In Fort Pierce, property values are expected to increase by 6%, from $2.3 billion last year to about $2.5 billion this year.
St. Lucie Village will see an overall taxable-value increase of 5.5%, from $63 million last year to about $66.8 million this year.
Property appraisers, by law, are required to release the estimates by June 1. Local governments use the figures to calculate their budget for the coming year.
If property is appraised at a higher value, owners could see their tax bills increase even if their tax rates remain unchanged.
Final numbers are released July 1, and the property values are certified and used to create tax bills, which are sent to property owners in the fall.
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