Cape Coral Real Estate Blog

[iamg]

For detailed news and trends in the Cape Coral real estate investment market, check out http://www.iamg.us/blog , a blog focusing on real estate news for investors in Cape Coral, Florida.

[Peter Kirsch]

Just received my "Notice of Proposed Property Taxes"
I currently own 2 parcels on Cape Coral, In 2002 Parcel 1 was appraised for $4,250.00 and my taxes were $215.02.
Parcel 2 was appraised for $2,670.00 and my taxes were $97.98.

The 2006 appraisels are for parcel 1 $113,500.00 and taxes will be $1,668.99.
Parcel 2 $86,050.00 and taxes will be $1,265.35.

Parcel 1's taxes have gone up 776% in 5 years, Parcel 2's taxes will have gone up 1,291% in the same time period.

A call to the Property Appraiser's office gave me the explaination that parcels in my location sold for that price last year and this justifies raising my taxes to those levels.
I reminded them that property values have crashed and was told " not last year" that's what they based their assessments on.

I cannot imagine what the City of Cape Coral is doing with all that money that is rolling into their coffers. If they were able to manage and run the city with the dollars they received in 2002, what are they doing with a 3000+% increase in their revenues in only 5 years? Are the streets being paved in gold?

Short of filing a "petition for adjustment" with the Value adjustment board, do I have any recourse?

Thanks to anyone who can help.

[Lived 3 yrs in the Cape]

And never so glad to get out there, in my life.
It seems that every time you turn around, they're wanting more money from the home owners, along with paying for permitts for every thing you go to do. You cannot put on a door, without getting a permit and then paying for them to come out to inspect it...if it's not all about money....I'll eat my hat.
What makes me so sad is the older couple that went there to retire and can't afford to make it now. I had neighbor's that I dearly loved and they both had to go back to work, at the age of 75 to be able to survive. The gentleman had a nice retirement that they should of been able to live on but with everything rising like it has, they can't and then, they can't get out...due to the homes dropping in value and starting all over, at their ages...that is very sad in my book and if it isn't all about greed, I would like for someone to explain to me also, why????

[Peter Kirsch]

The property I have, I've had since Cape Coral was first started, it's not a get rich quick scheme.
I was going to use one parcel for my retirement, and the other to help pay for my building of a home down there when the time came.
These last 5 years of the City of Cape Coral fleecing me have convinced me that this is not a place I want to live in.
I could understand the City of Cape Coral wanting to enjoy a part of the land boom which was going on, gatting a share of the money being made by flippers,(people who buy and quickly sell to make a profit).
But my properties were not for speculation, and shouldn't be treated as such, they were part of a life's plan, for the retirement of a family, not to make a quick buck.
My properties will go on the market and I hope I can help drive their land values down even more than the current crash is doing.

[Franz P Kirsch]

The following two links are to letters to the editor of the Cape Coral Daily Breeze.
Please take a look and see what you are in for if you move to Cape Coral.
Also here's a link to an editorial responding to my Letter to the editor.
Notice in the editorial Cape Coral's taxing authority states:
"As proposed, the total property tax rate is proposed at 4.9414 mills. A mill is $1 per $1,000 of assessed valuation.
The General Fund millage has not been below 5 mills since 1994, and the total millage has not below 5 mills since 1989."
It's easy to keep millage rates low and brag about that, as long as they can keep raising the appraisal rates. You can bet as soon as the lower property values are reflected in their appraisals you'll see the millage rates climb.
Then they'll tell you they haven't raised millage rates since 1989 and brag about it again. it's a CATCH22 where the property owner can only loose.
http://www.cape-coral-daily-breeze.com/Letter...
http://www.cape-coral-daily-breeze.com/Letter...
http://www.cape-coral-daily-breeze.com/news/a...

[Julie]

I also own 2 homes and both have such high taxes and property insurance on them we can't wait to move away from this once paradise turned DUMP!!
In just 5 Years I have seen this place go from Awesome to slumville!
Why on Earth would Cape Coral Line canal roads leading to the River with Duplex's? Why? To raise the crime rate?
I believe at one point Southwest Florida was a desirable place to live now it is Full of scumbags and criminals.
The Cape code enforcement is such a joke, try poking around neighborhoods that are an eye sore to out of towners. If The Cape is trying to encourage gang bangers and meth addicts they are doing the right thing!
This place sucks now!

[Julie]

I feel bad for People who thought they were coming here to retire. Ha, The SnowBirds are in for a HUGE shock this year aren't they? High Taxes, 80% Non English speaking folks, Outrageous Property Insurance. Sh***Y Drivers, Rude Store workers, workers that can't help you correctly because they DO NOT UNDERSTAND. What a Treat. I just Hope We can sell our 2 Homes Before even the Baby Boomers come to their senses and start heading to a different State or Country! haha

[Southwest FL Slump]

iamg wrote:

For detailed news and trends in the Cape Coral real estate investment market, check out http://www.iamg.us/blog , a blog focusing on real estate news for investors in Cape Coral, Florida.

Too funny, Every BIG construction has come to a halt here. I drive by 5 of the Sites where I was going to Invest and Thank God or whoever I didnt!

[JANE FONDA]

I feel bad for People who thought they were coming here to retire. Ha, The SnowBirds are in for a HUGE shock this year aren't they? High Taxes, 80% Non English speaking folks, Outrageous Property Insurance. Sh***Y Drivers, Rude Store workers, workers that can't help you correctly because they DO NOT UNDERSTAND. What a Treat. I just Hope We can sell our 2 Homes Before even the Baby Boomers come to their senses and start heading to a different State or Country! haha

[Proud American]

iamg wrote:

For detailed news and trends in the Cape Coral real estate investment market, check out http://www.iamg.us/blog , a blog focusing on real estate news for investors in Cape Coral, Florida.

Words...I want to see it happen...I've heard promises for a long time...let's see it happen....

[Proud American]

Peter Kirsch wrote:

Just received my "Notice of Proposed Property Taxes"
I currently own 2 parcels on Cape Coral, In 2002 Parcel 1 was appraised for $4,250.00 and my taxes were $215.02.
Parcel 2 was appraised for $2,670.00 and my taxes were $97.98.
The 2006 appraisels are for parcel 1 $113,500.00 and taxes will be $1,668.99.
Parcel 2 $86,050.00 and taxes will be $1,265.35.
Parcel 1's taxes have gone up 776% in 5 years, Parcel 2's taxes will have gone up 1,291% in the same time period.
A call to the Property Appraiser's office gave me the explaination that parcels in my location sold for that price last year and this justifies raising my taxes to those levels.
I reminded them that property values have crashed and was told " not last year" that's what they based their assessments on.
I cannot imagine what the City of Cape Coral is doing with all that money that is rolling into their coffers. If they were able to manage and run the city with the dollars they received in 2002, what are they doing with a 3000+% increase in their revenues in only 5 years? Are the streets being paved in gold?
Short of filing a "petition for adjustment" with the Value adjustment board, do I have any recourse?
Thanks to anyone who can help.

I feel your pain as I lived in Cape Coral but I don't see it getting any better...if anything, expect the worst...as this is my opinion.

[Proud American]

Peter Kirsch wrote:

The property I have, I've had since Cape Coral was first started, it's not a get rich quick scheme.
I was going to use one parcel for my retirement, and the other to help pay for my building of a home down there when the time came.
These last 5 years of the City of Cape Coral fleecing me have convinced me that this is not a place I want to live in.
I could understand the City of Cape Coral wanting to enjoy a part of the land boom which was going on, gatting a share of the money being made by flippers,(people who buy and quickly sell to make a profit).
But my properties were not for speculation, and shouldn't be treated as such, they were part of a life's plan, for the retirement of a family, not to make a quick buck.
My properties will go on the market and I hope I can help drive their land values down even more than the current crash is doing.

I was there for three years and seen it all coming down...it's only going to get worse...and I'm sorry to say that.

Cape Coral was a nice place to live, as I lived in the SW section but I never seen any place that kept sticking their hands out for money, from the home owners and got out of there, fast.

Good luck and I hope it all works out for you but my opinion is...it's only going to get worse....

[Proud American]

Franz P Kirsch wrote:

The following two links are to letters to the editor of the Cape Coral Daily Breeze.
Please take a look and see what you are in for if you move to Cape Coral.
Also here's a link to an editorial responding to my Letter to the editor.
Notice in the editorial Cape Coral's taxing authority states:
"As proposed, the total property tax rate is proposed at 4.9414 mills. A mill is $1 per $1,000 of assessed valuation.
The General Fund millage has not been below 5 mills since 1994, and the total millage has not below 5 mills since 1989."
It's easy to keep millage rates low and brag about that, as long as they can keep raising the appraisal rates. You can bet as soon as the lower property values are reflected in their appraisals you'll see the millage rates climb.
Then they'll tell you they haven't raised millage rates since 1989 and brag about it again. it's a CATCH22 where the property owner can only loose.
http://www.cape-coral-daily-breeze.com/Letter...
http://www.cape-coral-daily-breeze.com/Letter...
http://www.cape-coral-daily-breeze.com/news/a...

I agree with you totally!

[Proud American]

Julie wrote:

I also own 2 homes and both have such high taxes and property insurance on them we can't wait to move away from this once paradise turned DUMP!!
In just 5 Years I have seen this place go from Awesome to slumville!
Why on Earth would Cape Coral Line canal roads leading to the River with Duplex's? Why? To raise the crime rate?
I believe at one point Southwest Florida was a desirable place to live now it is Full of scumbags and criminals.
The Cape code enforcement is such a joke, try poking around neighborhoods that are an eye sore to out of towners. If The Cape is trying to encourage gang bangers and meth addicts they are doing the right thing!
This place sucks now!

I agree totally, I lived there 3 yrs. and got the heck out of there.....

[Proud American]

JANE FONDA wrote:

I feel bad for People who thought they were coming here to retire. Ha, The SnowBirds are in for a HUGE shock this year aren't they? High Taxes, 80% Non English speaking folks, Outrageous Property Insurance. Sh***Y Drivers, Rude Store workers, workers that can't help you correctly because they DO NOT UNDERSTAND. What a Treat. I just Hope We can sell our 2 Homes Before even the Baby Boomers come to their senses and start heading to a different State or Country! haha

Boy Howdy on what all you stated...I lived it and got out of there....quickly!

I'll deal with a lit'l snow and be able to afford to eat....

[Pam Anderson]

OK, I am so jealous of all of you who left before this! I am putting my house on the market in 3 days and am hoping for a leae within a year or 2.. I hope this is is do-able!
I figure I have a lot of rooms here 10 Families can surely come up with the $ to buy it right! ahahhaah

[mofo]

Proud American wrote:

<quoted text>
Boy Howdy on what all you stated...I lived it and got out of there....quickly!
I'll deal with a lit'l snow and be able to afford to eat....

you are killing me proud american!! I will be lucky to sell this sometime in the near future meaning a year..

[Stoney]

Can someone tell me where I can research Cape Corals Code Inforcement...I would certainly appreciate it.

[SWFL Chic]

Stoney wrote:

Can someone tell me where I can research Cape Corals Code Inforcement...I would certainly appreciate it.

ha good luck on cape code enforcement.. They seem to only enforce codes in the nice neighborhoods and they leave the shit neighborhoods shit...
anyway go look at cape coral government pages, its like capegov.ney?

[Franz P Kirsch]

Cape Coral's really got nerve. Besides raising my taxes annually. Over 2000% in the last 5 years, they now want to use my land as a dump site for the junk they dredge from the canals nearby. They want to do it for FREE. They promise to restore the property to it's original condition within 30 days of the projects completion. When's that? 1 Year, 2 Years? Not a mention of liability insurance to cover the lot owner in case workmen are injured and sue. I guess they think we're really stupid, pay, pay,pay, then give them free use of our land.
Not a chance, I wrote back and instead of sending a signed authorization I sent them my lot rental rates $75.00/day, 30 in advance with the rental ending after my property is restored, They must issue $5,000,000.00 liability insurance policy specifically covering my land for the duration of the project.