June 11, 2017
This real estate market across Alachua County is looking quite strong, as there has been a 7.5% increase in the total taxable value of property since 2016, which is the biggest increase the county has seen in the last 10 years. The property value numbers are only estimates so far, and final numbers will be released by the end of the month, and will help to determine budgets for county organizations and commissions across Alachua.
Residential property jumped 8.1% since last year, creating the biggest increase, with an additional value totaling $734 million. Retail property value jumped 16.9%, or by $123 million, industrial manufacturing property value jumped 3.2%, or by $67 million, and agricultural value jumped 11%, or by $14 million.
While this means that for most property owners, tax bills will rise, the overall effect of an increase in property value is good news for owners as well as the local economy as a whole. This also creates a much more desirable market for sellers, as home prices will be higher.
For more details and information on the biggest jump in property values that Alachua County has seen in a decade and what it means for the residents there, be sure to read the full article at Gainesville.com.
