Make us your home page
Instagram

Today’s top headlines delivered to you daily.

(View our Privacy Policy)

Property values fall in Seminole, Pinellas Park

The news that property values have drastically declined was unwelcome but came as no surprise to city budget experts.

The drop — into the double digits for most — was about what most expected.

Seminole's Harry Kyne, for example, said he was off by about $12,000. Unfortunately, Kyne said, he was projecting the city would have $12,000 more in income from property taxes than it will have according to the preliminary figures released last week by Pinellas County Property Appraiser Pam Dubov.

The preliminary numbers show the overall taxable value of land within Seminole's city limits has dropped an estimated 10.4 percent since 2008. That means land in the city is worth about $34.9 million less now than it was a year ago.

While steep, the decrease in Seminole's taxable property values is slightly better than the overall county, which saw values decline by about 11.1 percent.

By comparison, Pinellas Park did really well. It was one of only six Pinellas municipalities that saw a single-digit decrease — about 8.7 percent. Overall property value dropped by about $298.7 million since last year.

"Things are pretty much as we had anticipated," Pinellas Park spokesman Tim Caddell said, although he agreed that it's sad when an 8.7 percent drop in property values is a good thing.

The main reason for the relatively low drop in taxable value in Pinellas Park is likely a result of the lower increases in the years when values were skyrocketing across the county, Caddell said. Because Pinellas Park's values did not go up so high, they don't have as far to fall, he said.

Both Kyne and Caddell said it's too early to tell how much city budgets might be hit by the decrease in property values. The numbers are preliminary and could actually get somewhat better as the summer and the budget process go on. And, Kyne said, other numbers, such as the cost of health insurance, are not available. Until all the numbers are in, it's impossible to tell what could happen to city budgets.

Anne Lindberg can be reached at alindberg@sptimes.com or (727) 893-8450.

Property values fall in Seminole, Pinellas Park 05/26/09 [Last modified: Tuesday, May 26, 2009 11:57am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Report: Trump asked intel chiefs to push back against FBI collusion probe after Comey revealed its existence

    National

    President Donald Trump asked two of the nation's top intelligence officials in March to help him push back against an FBI investigation into possible coordination between his campaign and the Russian government, the Washington Post reports, citing current and former officials.

    From  left, CIA Director Mike Pompeo; Director of National Intelligence Dan Coats; and National Security Agency Director Adm. Michael Rogers take their seats on Capitol Hill on May 11 before  testifying before the Senate Intelligence Committee hearing on major threats facing the U.S. [Associated Press]
  2. For Gov. Rick Scott, 'fighting' could mean vetoing entire state budget

    State Roundup

    Every day, Gov. Rick Scott is getting a lot of advice.

    The last time a Florida governor vetoed the education portion of the state budget was in 1983. Gov. Bob Graham blasted fellow Democrats for their “willing acceptance of mediocrity.”
  3. Romano: Time is up chief, make a call on police body cameras

    Crime

    Excuse me chief, but it's time to take a stand.

    St. Petersburg police Chief Tony Holloway
  4. Potential new laws further curb Floridians' right to government in the Sunshine

    State Roundup

    TALLAHASSEE — From temporarily shielding the identities of murder witnesses to permanently sealing millions of criminal and arrest records, state lawmakers did more this spring than they have in all but one of the past 22 years to chip away at Floridians' constitutional guarantees to access government records and …

    The Legislature passed 17 new exemptions to the Sunshine Law, according to a tally by the First Amendment Foundation.
  5. Fennelly: This season's Chris Archer is a pleasure to watch

    The Heater

    ST. PETERSBURG

    At this time last season, through 10 starts, Rays pitcher Chris Archer was 3-5 on his way to 9-19.

    Tampa Bay Rays starting pitcher Chris Archer (22) throwing in the first inning of the game between the Tampa Bay Rays and the New York Yankees at Tropicana Field in St. Petersburg, Fla. on Sunday, May 21, 2017.