Upswing in real estate market is good sign for residents
By Anna-Marie Menhenott
ST. LUCIE COUNTY -- St. Lucie County Property Appraiser Ken Pruitt officially released the 2014 estimated taxable value of real and personal property to governmental jurisdictions within St. Lucie County on May 30, 2014.
Due to an improved real estate market, the overall taxable value in the County will jump to an estimated $15.5 billion, an increase of 2.5 percent.
"St. Lucie County continues to show steady improvement in its real estate market. This favorable trend bodes well for a continued increase in property values as the economy continues to recover," said Mr. Pruitt.
The city of Port St. Lucie will see its overall taxable value increase to approximately $6.9 billion, a leap of 5.25 percent.
The city of Fort Pierce will also see an increase in its overall taxable value to an estimated $1.9 billion, a bounce of 1.5 percent.
The town of Saint Lucie Village will see its overall taxable value raise by 1.2 percent to an estimated $55.7 million.
"We have a very unique agricultural environment in the county and each area has special challenges. It is encouraging to see the upswing across the board," Mr. Pruitt said. "Although the real estate market is very unpredictable, I don't see a downturn. Residents should be confident in the positive assessments. This is a very good thing for all of us."
Pursuant to Florida law, the 2014 taxable assessments reflect the values of the prior year beginning
Jan. 1, 2013 and ending Dec. 31, 2013.
For more information about services provided by the St. Lucie County Property Appraiser's Office, visit www.paslc.org.