SE Polk Cities See Rise in Property Values

Cities across the county are seeing significant rises in property tax income, according to the preliminary tax roll published by Polk County Property Appraiser Marsha Faux.

Despite the recent surge in home prices and the value of new construction, however, property values in most Ridge-area municipalities have seen only modest increases so far.

The valuations have significant impacts on city budgets, since local shares of the taxes are based upon the millage rates set by municipal governing boards.

Eagle Lake has, by far, been the biggest beneficiary of the real estate boom among southeast Polk towns, recording an increase in values from $246 million to $362 million, a rise of more than 47 percent.

New taxable construction in Eagle Lake was valued at more than $91 million. New subdivisions spreading south from the Winter Haven area account for most of that growth.

In Lake Wales, property values rose from 6.76%, a slowdown from last year's 8.96% rise. That reflects an increase of $29 million, to more than $1.2 billion. A wave of ongoing construction is expected to fuel a sharper rise during the next two years, according to officials.

Frostproof saw a jump of 9.24% to $226 million in appraised value. Tiny Hillcrest Heights and Highland Park each saw increases of less than five percent.

Courtesy Polk Property Appraiser

Polk County Property Appraiser Marsha Faux

Fort Meade saw steady growth, racking up a rise of just over 10%, almost identical to the prior year. That reflected a rise to more than $202 million in total value, with new construction contributing nearly five million.

Bartow saw an increase of 16.32% to more than $1.348 billion. Polk County recorded an overall increase in valuations of more than $66 billion, including $2.7 billion in new construction.