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Property taxes in Leon County continue their upward trend for the third consecutive year, as the latest preliminary tax roll from the Leon County Property Appraiser’s Office reveals. Akin Akinyemi, the Property Appraiser, recently submitted the updated figures to the Florida Department of Revenue and local taxing authorities, showing a near 5% rise in market values compared to the previous year.
The newly calculated property tax increase of 5.4% marks a moderation from last year’s 7.3% hike. According to Akinyemi, this adjustment aligns more closely with the county’s historical average appreciation range of 3% to 5% annually.
Despite an increase in housing inventory across Florida, supply remains insufficient to meet demand, a dynamic that continues to drive property values upward. “Until supply catches up,” Akinyemi explained, “property values will likely continue to rise — though at a slower pace.”
Property taxes remain a critical revenue source for local government entities, including the school district, county, and city governments. These preliminary values inform budgeting for the upcoming fiscal year and directly influence the tax levies imposed on residents.
However, rising property tax revenues have also fueled tensions between constituents and elected officials. Last year, the city’s additional property tax collections increased by $6 million, while the county collected an extra $19 million, driven by escalating market values.
Leon County’s property tax growth has been substantial over recent years:
- 2024: approximately 10% increase from 2023
- 2023: 7.8% increase from 2022
- 2022: 9.33% increase from 2021
It is important to note that Florida law protects homestead exemption recipients from property value increases exceeding 3% annually. This safeguard aims to mitigate tax burdens on qualifying homeowners despite rising market valuations.
As property values continue to evolve, local governments and taxpayers alike will monitor these trends closely given their significant fiscal implications.
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