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Pinellas County’s property values keep on rising
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As local governments continue work on next year’s budgets, they’ll have more money to spend – thanks to ever-increasing property values throughout Pinellas County.

Property Appraiser Mike Twitty certified the 2017 preliminary tax rolls July 1, which showed increases in every category – just value real property, taxable value real property, net taxable value for new construction and taxable value for tangible personal property.

The county’s General Fund budget will benefit from a 7.97 percent boost in total taxable values. The dollar value of more than $5.43 billion includes an 8.08 percent gain in real property tax values plus increases in new construction and tangible personal property values.

Taxes on real property bring in the most money to government coffers. Property owners with increased values will likely have larger tax bills next year even if millage rates stay the same. Some areas of the county will see bigger increases in tax bills than others due to the variety in changes of taxable values.

Annual property tax bills are calculated using the millage rate from the different taxing authorities and applying it to the property value minus homestead and other exemptions.

The county is the taxing authority and approves the countywide millage rate (General Fund), as well as the rate for Emergency Medical Services, Municipal Services Taxing Units and the Health Department. The county also approves rates for East Lake library and recreation services, Feather Sound community services and Palm Harbor community services. The county also approves millage rates submitted from the independent fire districts.

Other taxing authorities include the county’s school district, Pinellas Suncoast Transit Authority, Pinellas Park Water Management District, Pinellas Planning Council, Juvenile Welfare Board, Southwest Florida Water Management District and Clearwater Downtown Development.

County Administrator Mark Woodard is scheduled to present the tentative FY 2018 on July 18 with recommended millage rates, which must be approved by the commission by Sept. 26.

Estimates of municipal taxable values

Indian Rocks Beach leads the county with an 11.49 percent increase in real property values, 35 percent jump in tangible property values and 11.69 percent hike in total taxable value. In real dollars, that translates to just over $114.4 million more in taxable value than last year.

All county municipalities had jumps in taxable values. The estimated increases are as follows. Dollar values are rounded. Total taxable value includes tangible property and new construction.

• Indian Rocks Beach – 11.49 percent real property, 11.69 percent total taxable, a $114.4 million increase.

• Belleair Shore – 10.61 percent real property, 10.61 percent total value, $13.6 million increase.

• Seminole – 10.31 percent real property, 10.26 percent total taxable, $122.9 million increase.

• Dunedin – 9.77 percent real property, 9.59 percent total taxable, $205 million increase.

• St. Petersburg – 9.76 percent real property, 9.42 percent total taxable, $1.5 billion increase.

• Kenneth City – 9.44 percent real property, 9.57 percent total taxable, $13.2 million increase.

• Treasure Island – 8.76 percent and 8.81 percent total taxable, $141 million increase.

• Redington Shores – 8.43 percent real property, 8.47 percent total taxable, $42 million increase.

• Clearwater – 8.39 percent real property, 8.32 percent total taxable, $781 million increase.

• Indian Shores – 8.41 percent real property, 8.40 percent total taxable, $67 million increase.

• Madeira Beach – 8.27 percent real property, 8.19 percent total taxable, $88 million increase.

• Largo – 8.26 percent real property, 7.99 percent total taxable, $323 million increase.

• Gulfport – 7.73 percent real property, 7.73 percent total taxable, $62 million increase.

• St. Pete Beach – 7.49 percent real property, 7.31 percent total taxable, $186 million increase.

• Belleair Beach – 7.46 percent and 7.46 percent total taxable, $36 million increase.

• Tarpon Springs – 7.46 percent real property, 7.90 percent total taxable, $125 million increase.

• Safety Harbor – 7.42 percent real property, 7.11 percent total taxable, $80 million increase.

• Belleair Bluffs – 7.40 percent real property, 7.07 percent total taxable, $14 million increase.

• Pinellas Park – 7.12 percent real property, 7.18 percent total taxable, $221 million increase.

• Belleair – 6.36 percent real property, 6.35 percent total taxable, $42 million increase.

• Redington Beach – 6.17 percent real property, 6.62 percent total taxable, $28 million increase.

• South Pasadena – 5.97 percent real property, 5.73 percent total taxable, $32 million increase.

• Oldsmar – 5.93 percent real property, 4.34 percent total taxable, $252 million increase.

• North Redington Beach – 3.67 percent real property and 3.66 percent total taxable, $17 million increase.

Taxing authorities have until Aug. 4 to notify the property appraiser of tentative millage rates for development of Truth in Millage notices, which will be mailed to property owners Aug. 21. Final rates may be lowered before final approval but cannot be increased.

Suzette Porter is TBN’s Pinellas County editor. She can be reached at sporter@tbnweekly.com.
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