For the first time in four years, Collier County’s taxable property values have increased. Preliminary numbers show Collier valuations up .53% to $58.52 billion dollars. Florida properties are reassessed on January 1st of each year by each county’s Property Appraiser and reflect changes that occured in the past year. The value of all property in Collier County peaked in 2007 at $82.5 billion dollars and fell each of the following four years during the recession and subsequent housing bust. New construction in Collier County during 2011 contributed $407.9 million to the annual total.

Lee County’s taxable property values fell .90% in 2011 in the preliminary report issued by the Property Appraisers office. The final property value report, which will be used by city and county governments and municipal taxing districts, is due to be submitted to state officials on July 1st. Lee County property values are down 45% from their 2007 high. Last year, property values in the county fell 4.8%.