In this digital age, keeping a pulse on property values is crucial for homeowners and prospective buyers alike. This page serves as a vital resource, offering you valuable insights into the property values in Marion County Property Appraiser. Our steadfast commitment to transparency and accuracy ensures we provide the most current and dependable property information, directly impacting your decisions and financial planning.
Property Values are Rising in Marion County
What’s happening? The appraised value of the Marion County property. Between 2016 and 2017, it didn’t just increase, it soared by an impressive 5.43%.
The total value added was a staggering $300 million, a testament to the thriving real estate market in Marion County. This includes significant contributions from new construction, renovations, and additions. Notably, FedEx’s new $50 million distribution center has substantially added to the tax list, indicating the county’s attractiveness to significant businesses.
Is this trend new? Is not. In the same period last year, the calculated value increased by 4.23% compared to the previous year. During the economic downturn, the value dropped year after year.
What do the numbers tell us? The appraised value of the property rose from US$17.25 billion in 2016 to US$18.19 billion in 2017, the figure used by the school board. The county commission uses a smaller amount ($16.47 billion this year) for its general fund. The school board’s figure is higher because it’s not subject to the additional $25,000 exemption for properties that many homeowners can claim or the 10% annual limit for unoccupied properties.
For school board purposes, the taxable property value increased by 5.43% from 2016 to 2017. The county board’s percentage increase was 5.52 ($15.61 billion to $16.47 billion). This breakdown helps you understand the different impacts of the property value trend on various entities.
And my neighborhood? Each fiscal district experienced an increase in taxable assets. See the map for specific information.
These are preliminary data from the Real Estate Valuation Office, a trusted source for property information. Tax authorities such as the School Board, District Commission, City Councils, and Water Districts will use these final numbers when setting budgets and mileage rates for 2017-2018, ensuring a fair assessment of property values.