Most property in Lee County will see reductions in their assessed
value. 2008 assessed value is calculated from 2007 market comparables,
so the assessed value may still seem high to today's market value.
Homesteaded property's assessed value, even when the market value
decreases, may see their taxes increase up to the 3% limit, because of
the recapture rule, which affects nearly 100,000 homeowners.
Lee county recently mailed out the Truth in Millage notices. Property
owners have until Sept 16th, 2008 to challenge the market value at the
Value Adjustment Board. For more information on how to do this, go to: www.FightFloridaTaxes.com
