Property values drop countywide


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  • | 4:00 a.m. July 7, 2011
  • Palm Coast Observer
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Property appraiser: Palm Coast taxable values dropped 12.8%. Flagler Beach dropped 17.3%.

Flagler County taxable property values were released Friday, July 1, showing drops recorded countywide.

Property Appraiser Jay Gardner informed officials last month that values were likely to fall, and his final figures remained consistent with projections.

Palm Coast showed the smallest decline, at 12.83%. The largest decline was recorded in Marineland, at 58.5%, because a nonprofit, Georgia Aquarium, recently bought the city’s largest property.

County Commissioner Barbara Revels was disappointed in the 14.28% fall in the Flagler County Board of County Commissioners’ taxable property value.

“It is indicative of the health of our community and the real estate portion of our economy,” she said in an email. “(But) as a Realtor and general contractor … I believe we are seeing activity from investors who believe there are good values in Flagler County and are acting on it.”

She said the county must hold the line on its expenditures. “We also must continue to press on for new job creation,” she said. “I believe all of it will be baby steps, and we have already started walking — wobbly, but walking.”

In response to the School Board’s 13.17% drop, School Board member Andy Dance looked to efficient spending.

“Until values stabilize, it’s going to continue to mean reduced revenues for the district,” he said. “So we have to continue to be watching our expenses and using our resources as wisely as we can.”

Once values start the rise, the board will consider bringing back programs that have been cut.

“We’re all eagerly anticipating when (values) bottom out,” he said.
 

 

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