Orange County's Market Values Stable in 2021
Data released by the Orange County Property Appraiser’s Office shows stable values during COVID-19 Pandemic
June 2, 2021
Orlando, FL. – June 1, 2021 - Data compiled by the Orange County Property Appraiser’s Office shows the market value for 2021 at $224.7 billion. Orange County has seen steady growth in nine of the County’s thirteen municipalities bringing the county’s 2021 total market value up 1.2% from 2020. All thirteen municipalities were notified today of their taxable value as they prepare their upcoming budgets and determine their millage rates.
“These values are estimates based upon market conditions as of January 1, 2021 and reflect how COVID-19 has affected our county’s real estate market,” said Orange County Property Appraiser Amy Mercado. “While our county experienced significant impacts due to the pandemic, there were also areas of strong growth, especially in the residential sector.”
Our office has recorded $3.8 billion in new construction. Orange County’s residential market hit a new high, reaching $106.5 billion, a 6.5% increase over 2020. While the commercial market value decreased to $102 billion, a 3.4% drop over prior year. Tangible Personal Property market values decreased 6% over 2020 down to $16.2 billion.
Community highlights include:
• West Orange County growth is led by Oakland, which has seen a 15.8% increase in market value over 2020. Ocoee and Winter Garden have both seen market values rise by 6% and 5.2% respectively, while values in Windermere grew by 3%.
• In North Orange County, Apopka’s market value rose by 8.6%, followed by Winter Park up 3.2% and Maitland increasing 2.4%. Eatonville’s market value dropped by 1.7% compared to 2020.
• Central Orange County market value growth was experienced by two municipalities with Belle Isle increasing 8.3%, followed by Edgewood at 2.8%. Orlando is down slightly, decreasing 0.2% over 2020.
• Southwest Orange County saw the largest decreases in market value since 2020 with Bay Lake and Lake Buena Vista market value decreasing 9.2% and 12.1%, respectively.