If you own property in Lee County, Florida you should have received your new trim notice.
If you do you would have noticed a pretty significant decrease in your taxes.
I think the biggest reductions are on vacant land.
FYI, vacant land in Cape Coral maxed out in 2005 about $90-100,000 & decreased in 2006/2007 to about $25,000 for the same lot worth $100,000 then. Mind you, vacant land in Cape Coral had values of $1,000-5,000 from the early 80s up until about 2002 when we watched them steadily increase up to those highs in 2005.
Here's a couple of samples:
Vacant lot - Cape Coral
Last year valued at $72,000 Taxes $1,292.43
This year valued at $30,000 Taxes $523.94 proposed or $554.44 with no budget change
True market value TODAY approximately $20,000
Tax savings: $737.99-$768.49 - I find that significant
Ok, on to a typical house in Cape Coral
Without SOH (save our homes/homestead exemption)
Value last year $191,890 taxes $3,000.52
This year: $177,080 taxes $2,660.67 proposed or $2,815.40 with no budget change
True market value TODAY approximately $140,000
Tax savings: $185.12-$339.85 - not huge but still a savings
By the way, I sat at a closing table with one of my buyers today & we were talking about the taxes in Cape Coral. I told him he should have saved money on his house here in Cape Coral this year & he said "only $300". To me that's something. This is the first time I've ever experienced taxes actually go down here.
If you have any questions feel free to contact us:
Cape Coral Real Estate professionals
Susan Milner, e-PRO GRI REALTOR®
Sellstate Achievers Realty Network, Inc.