Collier County (Naples) Property Values Set Record High in 2016
Property values in Collier County climbed to a record high last year, eclipsing those before the recession, according to the preliminary assessment of Property Appraiser Abe Skinner.
The total value of land in the county in 2016 was $108.6 billion, a 6.5 percent growth over the year before, topping the county's previous high of $107 billion set in 2007, according to the early numbers from the appraiser's office.
"This is still preliminary, and you will see these figures change slightly," Skinner said. "We're still putting values in through the end of the month and will have to present the tax roll to the state for approval in July."
Taxable values increased throughout the county, but the largest gains were in parts of East Naples, Golden Gate, Golden Gate Estates and Immokalee, which each climbed from 14 to 15 percent over the prior year.
"The activity is in less expensive areas," Skinner said. "We're running out of space in a lot of places and, especially in the Estates, there are still places that are vacant.”
Immokalee, which has been one of the slowest areas in the county to recover from the Great Recession, experienced a 14.4 percent growth in value in 2016.
"For years Immokalee has been slow on the uptake, and now it seems like it's getting a little more activity," Skinner said.
It marks the sixth straight year of property value growth after the bottom fell out of the housing market and new construction slowed to a crawl from 2008-11.
"It's good to see that strong recovery," said Michael Dalby, president and CEO of the Greater Naples Chamber of Commerce. "People still see the value of Southwest Florida housing and recognize that proximity to beaches and the culture and the way of life that is Naples still holds value."
Taxable values in Naples rose 7.2 percent to $21.6 billion, while those in Marco Island climbed 6.4 percent to just under $10 billion. Everglades City saw the slowest growth in the county, with a 3.4 percent increase.
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