Taxable value of Manatee County property leaps 6.76 percent, officials say

skennedy@bradenton.comJune 3, 2014 

MANATEE -- The taxable value of all property in Manatee County has increased 6.76 percent to almost $25.8 billion, according to an estimate from the Manatee County Property Appraiser's office.

The total taxable value went up from $24,130,431,399 last year to $25,762,257,122, said Mark Johns, county director of appraisal.

"This is just another year the market has continued to improve, and the county is seeing a steady influx of growth again," Johns said Monday.

"We're seeing it in new permits being pulled. We had over 2,000 new homes put on the tax rolls for 2014, so there's good, steady growth again in Manatee County."

Overall, the value of Manatee County properties increased more in areas such as the islands and East Manatee, while places such as Bradenton and Palmetto have lagged, Johns said.

"It's indicating the growth, most of the growth, is in East Manatee," he said. "We've had $220 million worth of new construction in the East Manatee area."

On July 1, the property appraiser's office typically notifies the various taxing entities of the taxable property values in their respective jurisdictions, and calculate tax rates and estimated revenue according to the results.

Anna Maria values went up 10.93 percent over last year from $646.4 million to $717 million, according to the property appraiser's office.

Bradenton values went up 5.79 percent from $2.5 billion to $2.6 billion.

"Some areas in the county still haven't recovered that well, but the generalization would be to say growth is occurring. But there are some exceptions in some areas," said Jim Seuffert, county director of financial management.

Monday's numbers constitute an official estimate; figures showing actual values are expected to be announced July 1, he said.

During the recession, taxable values plunged and county officials had less money to spend each year. They had to dip into reserves, and will continue using reserve funds next year, Seuffert said.

The county expects, however, to reap an additional $10 million or so in tax revenue as a result of property value increases, said Seuffert, some of which will be used to supplant reserves.

In 2008, taxable values were much higher at $34.4 billion, Seuffert said.

"We're only at 75 percent in terms of values, the tax values have a long way to go before they come back to where they were," Seuffert said.

"That means if we keep the millage rate the same, taxpayers collectively will be paying 25 percent less in taxes than they paid in 2008," he said.

Manatee County Administrator Ed Hunzeker is slated to give a budget message Tuesday during a meeting of the Manatee County Commission.

Sara Kennedy, Herald reporter, can be reached at 941-745-7031. Follow her on Twitter @sarawrites.

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