Orange County Property a Hot Commodity: New Construction Rises to $3.6 Billion in 2018

ORANGE COUNTY, Fla. (FNN NEWS) – Property values for Orange County continue to increase, topping last year’s numbers. “Record-breaking growth and a thriving central Florida economy will allow Orange County to keep pace with the demands,” Orange County Property Appraiser Rick Singh said.

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.

The 2018 numbers in a nutshell: 

  • The market value of properties in Orange County is up 8.4 percent, from $171.9 billion, to $186.3 billion.
  • The 2018 county’s taxable value increased 9.3 percent, from $119.3 billion in 2017, to $130.5 billion.
  • 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 (13.7 percent) at just over $2.6 billion. Oakland came in second, at 12.6 percent ($269 million), followed by Orlando (11 percent), at $30.9 billion, Winter Garden (10.6 percent) at $3.35 billion, Bay Lake (10.4 percent) at $8.45 billion and Apopka (10.1 percent) at $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.

Leave a Reply

Your email address will not be published. Required fields are marked *