Property values for Orange County continue to increase, topping last year’s numbers. Most notably, new construction increased to $3.6 billion in 2018, up from $3.1 billion in 2017. Six of the county’s 13 municipalities showed double-digit increases in taxable values from the 2017 numbers, according to the Property Appraiser’s office.
“Record-breaking growth and a thriving central Florida economy allow Orange County to keep pace with the demands,” said Orange County Property Appraiser Rick Singh.
The market value of properties in Orange County is up 8.4%, from $171.9 billion to $186.3 billion. The 2018 county’s taxable value increased to $130.5 billion, up 9.3%. The $3.6 billion in new construction averages out to $9.8 million per day, which is an increase of $1.3 million per day over 2017.
Of the six municipalities that showed double-digit taxable value growth over 2017, Ocoee showed the highest increase at just over $2.6 billion, up 13.7%. Oakland came in second, up 12.6% ($269 million), followed by Orlando up 11% ($30.9 billion), Winter Garden up 10.6% ($3.35 billion), Bay Lake up 10.4% ($8.45 billion), and Apopka up 10.1% ($3.25 billion).
“The employees of the Orange County Property Appraiser’s office take our commitment seriously to capture and process accurate data that reflects the true market,” Singh said.