2010 ASSESSED VALUES A BIT LOWER THAN MARKET VALUE

If your newest assessed value from the Lee County Property Appraiser seems a bit low, you are not alone. Most homeowners are happy as many times that will be an indicator of lower property taxes. This may have been the first year that homeowners actually wanted a higher assessed value on their home. In 2008, assessed values were way too high for market value as foreclosures were being dumped on the market left and right quickly reducing values. 2009's assessments seemed to match up closely with where the market was or was going. This year, the bulk of the assessed values seem to be a bit lower than market value. After evaluating many properties for banks, I have come to the conclusion that market value is around 20% higher than the assessed value. Of course there are always exceptions to the case as some properties have been damaged and will probably sell even less than the new tax value and some properties have flat out been assessed too high(especially the high end homes), but the average home in the Fort Myers area will sell above the 2010 tax assessment.