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Marion property value rose 9.14% in one year; early estimate was 7.01% ocala.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ocala.com Daily Mail and Mail on Sunday newspapers.
A commercial and residential construction boom, which continued during last year despite the pandemic, helped boost Marion County’s 2021 property value to the highest level ever, according to a preliminary estimate released Wednesday.
The value of local property increased by 7.01% to $24.14 billion in 2021, surpassing the previous high mark of $22.55 billion last year and $22.35 billion in 2007, according to preliminary data released by the Marion County Property Appraiser’s Office.
The overall preliminary taxable property value is projected to be $1.59 billion higher than the final value for 2020. There has been a $3.2 billion increase in taxable property value in the past two years combined. That is an increase of 15.43% in two years.