Overall property valuations show market slowdown
Estimated tax roll values in Lee County are flat or a little negative, according to preliminary tax roll
Estimated tax roll values in Lee County are flat or a little bit negative for 2026.
Property Appraiser Matt Caldwell said in looking at the 2026 estimated tax roll values released last Friday, a market slowdown in 2025 can be plainly seen and that slowdown will have an impact.
“Most of the jurisdictions are flat and a little bit negative year over year,” he said.
The Lee County tax roll values had a decline of 1.94%, a value change of $4,259,681,984 for the total just.
The total assessed went from $172,264,003,212 in 2025 to the estimate of $177,445,833,000 in 2026, a value change of $5,181,829,788, a 3.01% increase, including new construction.
The total taxable value went from $149,522,453,040 in 2025 to $153,922,880,000, a value change of $4,400,426,960, a 2.94% increase. The school taxable amount for 2025 was $168,485,807,428, compared to the 2026 estimate of $169,844,991,000, a .81% change.
Lee County’s new construction just went from $7,190,651,671 in 2025, to an estimated $5,662,056,826 in 2026.
The new construction taxable values for 2025 was $5,131,498,049 to an estimated $4,677,006,069 in 2026.
That flat, or a little bit negative, story rings true for Cape Coral as well.
“When you consider how large Cape Coral is as part of the tax roll now, it really drives the county wide results,” Caldwell said. “I think it’s pretty evident to readers who are in the market that prices have been flat, or even down in many areas.”
Although it depends on the property and exact neighborhood in the city, the values are certainly not what they were in 2020 and 2021 when people were scrambling to get here during COVID, he said.
Although there are some homes that have not been put back on the tax roll – mostly on the islands – that has a much smaller effect in Cape Coral.
“Obviously there are projects to get completed – the Yacht Club – from a civic side. Pretty much the places left – significant properties to come back on the roll, are out on the islands,” Caldwell said, due to the intensity of damage from Hurricane Ian, Milton and Helene.
The total just for Cape Coral in 2025 was $46,740,969,780, compared to the estimated $45,737,981,000, a 2.15% decrease, or $1,002,988,780 difference for 2026.
The total assessed was $37,243,502,093 in 2025, compared to the estimated $38,229,748,000, a 2.65% increase, or $986,245,907 in 2026.
The total taxable value for 2025 was $32,039,206,517, compared to the estimated $32,790,475,000, a 2.34% difference, or $751,268,483 increase in 2026.
The new construction just for 2025 was $1,606,908,724, compared to the estimated $1,302,299,307 for 2026.
The new construction taxable value is $1,574,138,502 for 2025, and the estimated value for 2026 is $1,176,589,188.
With the new property tax amendment that was put on the ballot Tuesday, Caldwell said the city of Cape Coral would be a prime example of impact on property owners if the measure passes.
Caldwell said with Cape Coral being overwhelmingly made up of homestead residential properties, its residents would see the bulk of tax savings.
“It’s a pros and cons evaluation,” he said of the amendment. “It’s all up to the voters on how to tackle it. The homestead property owners will see savings. There is a risk the non-ad valorem fees go up, and Cape Coral is already one of the larges users with non-ad valorem fees. There is potential that the city simply shifts the costs to that side of the bill.”
Caldwell said the question residents are going to have to figure out is what is the best way to pay for services – or not have the services at all, ultimately.
The city of Fort Myers total just valuation in the preliminary report had a 1.75% drop.
The city of Sanibel total just valuation had a 5.67% drop with total assessed and total taxable both also down, 1.02% and 1.19% respectively.
The town of Fort Myers Beach was an anomaly. Total just valuation in the preliminary report had a 1.98% increase with Lee County’s highest increase on total assessed and total taxable, 8.88% and 9.13% respectively.
The city of Bonita Springs total just valuation had a 4.66% drop and the Village of Estero had a 7.21% drop.
The Bayshore Fire & Rescue District total just valuation had an 8.75 increase; the North Fort Myers Fire District had a 4.36% increase; the Matlacha Pine Island Fire Control District had a 1.22% increase; and Lehigh Acres Fire Control and Rescue has a 15.39% increase
The official tax roll will come out on July 1, which is what the taxing authorities will use for their August budget hearings. The TRIM notice will also be sent out in August. He said the budget process will be wrapped up and combined and sent to the tax collector in October.
The Lee County Tax Roll, compiled annually by the Lee County Property Appraiser’s Office, is the official record that documents the assessed value of every property within the county and serves as the foundation for calculating property taxes. The Property Appraiser begins compiling the tax roll on Jan. 1 of each year. Jan. 1 is the “statutory assessment date,” meaning property values and ownership status as of Jan. 1 are used to determine assessments for the year. Property values are analyzed using recent sales data, market trends, construction permits, and field inspections to establish fair market value. The property tax roll then is fine-tuned from the preliminary tax roll, the document just released, to the certified tax roll to be release July 1. Preliminary figures may change before the final certified tax roll is submitted to the state.
To reach MEGHAN BRADBURY, please email news@breezenewspapers.com