On the rise: Home values beat expectations

MANATEE COUNTY — Bradenton Beach, Holmes Beach and Anna Maria may be seeing the largest increases in taxable values, but the beachfront cities are not necessarily where people are moving.

In East County, new construction increased by 64.09% compared with last year, with $361.27 million in new construction (compared with $220.16 million in 2014), according to the preliminary tax roll released Monday by the Manatee County Property Appraiser’s Office.

“The growth is definitely in the east Manatee area — east of the Interstate, the whole county,” said Mark Johns, director of appraisal services for the Manatee County Property Appraiser’s Office. “Out east, you are seeing people move in and setting up their primary residences. The island issue is totally different. There seems to be a lot of investors coming in, (renovating and renting).”

Homes in the East Manatee Fire Rescue District ranked third in market value increases with a 16.92% increase over 2014. 

Countywide taxable values have increased to $28.1 billion, up from $25.98 billion in 2014, an 8.1% increase. 

Values within the East Manatee Fire Rescue District have risen 7.02%, subtracting out new construction, compared with the countywide figure of 5.42% (up slightly from the appraiser's office's original 5% estimate). Only Anna Maria, Bradenton Beach and Holmes Beach saw higher figures — 8.73%, 8.74% and 8.27% respectively.

For market values, Holmes Beach ranked first at 19.18%, and Anna Maria ranked second at 18.2%. Market values within the East Manatee Fire Rescue District specifically increased 16.92%.

Johns said the appraiser’s office reviewed more than 9,600 qualified sales in 2014 to establish home values as of Jan. 1, 2015. 

Despite the increase in market values, owners with homestead properties will not see their assessed values increase more than .8%, as dictated by Florida's homestead exemption.

Manatee County commissioners have not yet determined a millage rate for the next fiscal year. Manate County has maintained a millage rate of 6.4326 since 2008.

Contact Pam Eubanks at [email protected].