Make us your home page
Instagram

Today’s top headlines delivered to you daily.

(View our Privacy Policy)

For first time in years, Hernando property values rise

BROOKSVILLE — For the first time since the 2007 tax year, Hernando County's taxable property value has increased.

On Thursday, Property Appraiser John Emerson released his office's annual good faith estimate of values to the county's taxing authorities. For the county government's taxing purposes, he estimates a property value of $7 billion, plus another $50 million in new construction value. Those values reflect the 2013 calendar year.

That is an increase of 1.42 percent over 2012's nearly static property value, said George Zoettlein, the assistant county administrator for budget.

"It could have been worse. It could have been negative,'' Zoettlein said. "It looks like we've turned the corner, but we've only got our big toe around the corner.''

The increase would generate about $643,562 more in property tax revenue using the current tax rate for county government. While that is a big number, Zoettlein noted that the county has budgeted for nearly $47 million in property tax revenue, and the additional revenue will not even be enough to pay for a $800,000 shortfall in library funding.

In recent years, the county has funded libraries from reserves built up from state library grants. That money is now gone, and since the grants are based on the local level of support, state grant funds have fallen significantly and now pay for only a small portion of the library budget, Zoettlein said.

The $7.05 billion in property value shows just how far the county has come from the peak of the property boom to the low point. The countywide property valuation reached a high of $11.4 billion in 2007, then fell to just under $7 billion last year, according to records kept by Emerson's office.

The County Commission will receive a proposed balanced budget by July 15, as required by law, and will have its first public discussion during a workshop Aug. 26, Zoettlein said.

Public hearings will be held Sept. 9 and 23 with adoption of the budget and tax rate after the second hearing.

For first time in years, Hernando property values rise 05/29/14 [Last modified: Thursday, May 29, 2014 8:17pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Trump sprinkles political attacks into Scout Jamboree speech

    GLEN JEAN, W.Va. — Ahead of President Donald Trump's appearance Monday at the National Scout Jamboree in West Virginia, the troops were offered some advice on the gathering's official blog: Fully hydrate. Be "courteous" and "kind." And avoid the kind of divisive chants heard during the 2016 campaign such as "build …

    President Donald Trump addresses the Boy Scouts of America's 2017 National Scout Jamboree at the Summit Bechtel National Scout Reserve in Glen Jean, W.Va., July 24, 2017. [New York Times]
  2. Trump, seething about attorney general, speculates about firing Sessions, sources say

    WASHINGTON — President Donald Trump has spoken with advisers about firing Attorney General Jeff Sessions, as he continues to rage against Sessions' decision to recuse himself from all matters related to the Russia investigation.

  3. John McCain to return to Senate for health care vote

    WASHINGTON — The Senate plans to vote Tuesday to try to advance a sweeping rewrite of the nation's health-care laws with the last-minute arrival of Sen. John McCain — but tough talk from President Donald Trump won no new public support from skeptical GOP senators for the flagging effort that all but …

  4. Last orca calf born in captivity at a SeaWorld park dies

    Tourism

    ORLANDO — The last killer whale born in captivity under SeaWorld's former orca-breeding program died Monday at the company's San Antonio, Texas, park, SeaWorld said.

    Thet orca Takara helps guide her newborn, Kyara, to the water's surface at SeaWorld San Antonio in San Antonio, Texas, in April. Kyara was the final killer whale born under SeaWorld's former orca-breeding program. The Orlando-based company says 3-month-old Kyara died Monday. [Chris Gotshall/SeaWorld Parks & Entertainment via AP]
  5. Blake Snell steps up, but Rays lose to Orioles anyway (w/video)

    The Heater

    ST. PETERSBURG — Blake Snell stepped up when he had to Monday and delivered an impressive career-high seven-plus innings for the Rays. That it wasn't enough in what ended up a 5-0 loss to the Orioles that was their season-high fifth straight is symptomatic of the mess they are in right now.

    Tim Beckham stands hands on hips after being doubled off first.