Slow increase in property values in Hillsborough County - WFLA News Channel 8

Slow increase in property values in Hillsborough County

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HILLSBOROUGH COUNTY, FL (WFLA) -

After years of decline, property values in Hillsborough County may be on the rise in 2013, according to the Hillsborough County Property Appraiser's office report.

The county's 460,000 parcels have seen a 3% increase in value according to the sales statistics being compiled by the property appraiser's office. The office representatives said, this increase will be reflected in Truth In Millage notices.

The county's property owners usually receive these notices which are essentially tax and property value estimates six months from now. The increase information will be included in the notices.

"I think this confirms the economy is indeed rebounding," said Hillsborough County Property Appraiser Bob Henriquez. "One of the strongest indicators of the overall health of our economy is the housing market and this is good news for owners who have suffered through a number of years of declining property values."

The county homeowners with homestead exemptions will only see a 1.7% increase in their home values due to the cap of the Save Our Homes amendment.

You can see how Hillsborough County property values changed over the years here.

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