Initial estimate shows Manatee property values rising by 8.16 percent

Manatee County property values are rising by slightly more than 8 percent from last year, according to the June 1 estimate from the Property Appraiser’s Office.

The county’s estimated taxable value for 2016 is $30.5 billion, which is an 8.16 percent increase from the 2015 final taxable value, which was $28.2 billion, according to the Property Appraiser’s Office. The county’s estimated market value for 2016 is $42.1 billion, a 7.84 percent increase from the previous year, and the county’s estimated value of new construction for 2016 is $845 million, a 21.34 percent increase from the previous year.

The property values for next year won’t be finalized until July 1 when the Property Appraiser’s Office certifies taxable values.

Typically, the June 1 estimate is a little lower than the final number, according to Mark Johns, director of appraisal services at the Property Appraiser’s Office.

“It is marginally different,” Johns said. “They are still working on some of the tangible property returns.”

The Property Appraiser’s Office will “keep working all the way up until the time we send out the TRIM notices,” which happens mid-August, Johns said.

On Thursday afternoon, Manatee County Administrator Ed Hunzeker will present his recommended 2016-17 budget to the county commission. The county’s largest revenue stream in the general fund in property taxes.

This story was originally published June 1, 2016 at 2:48 PM with the headline "Initial estimate shows Manatee property values rising by 8.16 percent."