Record $5.2 billion value for island property

Lee County Property Appraiser Matt Caldwell released the initial estimates for 2026 property values on Monday, June 1. They include an estimated $4 billion valuation of Boca Grande real estate.

“Boca Grande not only got hit by Ian, but also Hurricanes Milton and Helene,” Caldwell said. “Properties are still coming back on the tax roll.”

In 2026, the total assessed value of all taxable property in Lee County is estimated at more than $177 billion, about 3 percent higher than in 2025.

Separately, the just value of all property for 2026 is estimated at more than $215 billion. That figure is higher than the assessed value because not all properties are taxed at their full market value due to deductions and caps, including homestead exemptions.

The Boca Grande Fire Control District’s value for Lee County was estimated at $4,098,135,000 for 2026, up 6.54 percent from last year, when it was $3,845,506,299. This number still reflects recovery from several destructive hurricanes, Caldwell said.

“These estimates reflect the mixed bag of outcomes in our current market, with hurricane-damaged properties continuing to be restored and sold, while much of the overall market in 2025 was stable at best,” he said.

Compared to other jurisdictions, Boca Grande saw a higher increase in values from 2025 to 2026 than many other areas.

“It is a relatively compact island with high-value properties,” Caldwell said. “If just a few high-value ones come back on the roll, it swings the value.”

In Charlotte County, total just property values for 2026 were $51,049,818,159, down $869,979,969, a 1.68 percent decrease, according to figures from Charlotte County Property Appraiser Paul Polk.

For the Boca Grande Fire Control District portion in Charlotte County, total “just” assessments were $1,146,371,279, down $74,660,811, a 6.11 percent decrease. Taxable properties values were $952,926,707, up $36,109,080, or 3.94 percent. 

If you add the total value of both counties, the combined value of “just” properties on Gasparilla Island comes to about $5.2 billion. 

The value estimates provide a starting point for taxing authorities during their annual budget and property tax rate process.

The Property Appraiser’s Office will continue refining the values and will certify the official values on or before July 1.