There's good news for the real estate market in Ocala, as property values in Marion County are up 5.43% since 2016, continuing the trend from a year ago, when property values were up 4.23% from 2015.
The overall increase in property value can partly be attributed to the $300 million that was spent in new construction, remodeling and expansions. Another major player that contributed to the big jump in the taxable value of Marion County property was the huge addition of the new FedEx distribution center, which is valued at approximately $50 million.
In looking at the major towns and cities of Marion County, Rainbow Lake Estates had the biggest jump with a 6.01% increase in property values, followed by the city of Ocala, which saw a 5.5% jump. Reddick property values are up 5.33%, Macintosh values are up 4.71%, and Marion Oaks property values are up 4.2%, followed by Silver Spring Shores, the city of Dunellon, and then Belleview.
The aforementioned numbers are only preliminary, and the final numbers are due July 1 from the property appraiser's office. The final numbers will be used to determine budgets and mileage rates for 2017-2018 for the school board, the County commission, the city councils and the water management districts.
For more details and information on the rise of property values across Marion County, be sure to read the full article at Ocala.com.
