Economy ‘Going Gangbusters’ as Seminole, Lake Show Big Increases in Tax Roll
A red-hot economy that shows little sign of cooling, along with a growing number of new residents looking for increasingly scarce places to live, is credited with boosting Seminole County’s tax roll to a record amount, Property Appraiser David Johnson said Tuesday.
Seminole County’s tax roll is estimated to reach nearly $35.7 billion this year, an 8.2% jump from last year. That tops the previous high in 2007, when Seminole’s taxable value reached $33.5 billion, just before the Great Recession.
“It’s a supply and demand issue,” Johnson said in explaining the increasing property values. “We have a significant demand for property with new people moving in….And our supply [of residential properties] is increasing but not at the same level as our population growth.”
“The economy is driving all of this,” Baker said about the continued growth in Central Florida’s tax roll. “Right now, it’s going gangbusters.”
Most of the high-end commercial construction projects are taking place along the International Parkway corridor north of the H.E. Thomas Jr. Parkway and south of State Road 46.
New residential projects also are being planned for the area around Orlando Sanford International Airport in Sanford.
“Those are going to be two of our [development] hot spots in the coming years because there is land there,” Johnson said.
All of Seminole’s cities also can expect health tax-roll gains, according to property appraiser figures.
Winter Springs leads Seminole cities by a healthy 9.7% gain, followed by Sanford, which saw a 9.25% increase. Lake Mary was a close second with a 9.1% increase.
Other cities include: Oviedo, 9%; Longwood, 8%; Altamonte Springs, 7.8%; and Casselberry, 7%.
