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Value of Tax Rolls Swells to $39.3B
Increase gives governments elbow room

By Jeff Schweers, Florida Today, June 30, 2006

A booming real estate market and new construction continued to quicken Brevard County's tax rolls for the third year in a row.

But it looks like this could be the last year the county will see that kind of record growth, officials said.

The final tally -- $39.3 billion in taxable value -- which goes to all taxing authorities and the Department of Revenue, shows a 27 percent boost from last year.

That's a record for growth in a single year, Property Appraiser Jim Ford said.

Some cities -- Cape Canaveral, Palm Bay and West Melbourne, for example -- saw even higher increases in their individual tax rolls.

The increase is a boon to county, school board, cities and other taxing authorities. It gives them more room to maneuver as they put together budgets for next year.That means local governments will be able to roll back taxes for homeowners and still have millions more for teacher salaries, schools, jail expansions and new roads -- and continue to provide essential services such as fire protection and law enforcement.

"We will certainly try to meet the needs of the community," County Manager Peggy Busacca said.

But it could be the last year local governments get that kind of economic elbow room.

Ford said such large year-to-year increases are nearing an end. Sales activity this year is at 50 percent or less in volume and prices are flat-lined.

The assessment is a snapshot of all property value as of Jan. 1.

The white-hot real estate market kept his staff busy, Ford said.

Appraisers worked more than 63,500 sales transactions and ownership changes. More than 300,000 property values were updated based on market information. Sixty new subdivisions were created.

New construction accounted for $1.7 billion of the $8.6 billion increase.

That's a 15.3 percent over last year's new construction, about half the increase in new construction from 2004 to 2005.

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