Taxable values are less than the total value of property since a significant share of local property, such as that owned by charities and governments is not taxable. Increases in total taxable property in a jurisdiction means a government can spend more money but keep the existing tax rate.
Caldwell says the higher taxable property values are seen throughout the county and in the six incorporated communities. Increases in taxable values are seen in all of the county s incorporated communities, ranging from a 2.57% increase for Sanibel to a 9.6% increase in Cape Coral. They appear to have gone up pretty much across the board. There is no one part of the county that is outrageously above or beyond everywhere else, Caldwell said. There are some areas that are seeing double-digit percentage growth. New construction is a big part of it, $2 billion in new construction.