Florida Property Taxes Outpace Local Home Values

Homeowners in areas like Lakeland and Cape Coral face rising tax bills that significantly exceed property value growth.

Updated on Oct. 26, 2026 in Residential

Gouache-painted illustration of a large concrete block supporting a small house, representing financial imbalance in Florida's housing market. — Property taxes in Florida cities like Lakeland and Cape Coral are rising significantly faster than home values, complicating household financial planning for residents. AI Illustration. Upload story photo >

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Is the growth of property taxes in your area making it harder for you to afford homeownership?

Property taxes in Florida are outpacing home value growth in several key metro areas, according to a recent analysis of data from 2022 to 2024. Among the 100 largest U.S. metro areas, Lakeland-Winter Haven and Cape Coral-Fort Myers show some of the widest gaps in the country.

Why it matters

When property tax growth consistently outruns changes in home values, homeowners may face a significant increase in their annual housing costs that does not align with the actual market appreciation of their property. This trend impacts household budgeting and long-term financial planning for residents across the state.

In Cape Coral-Fort Myers, median property taxes climbed from $2,601 in 2022 to $3,087 in 2024. Meanwhile, Lakeland-Winter Haven saw a 28% jump in median property taxes during the same period, ranking it first nationally for the widest disparity between tax and value growth.

The players

U.S. Census Bureau

The federal agency responsible for gathering comprehensive data on American households, including housing and tax statistics through the American Community Survey.

The details

Researchers determined these rankings by comparing the percentage change in median property taxes against the percentage change in median home values over a two-year period. By isolating these two metrics, the study highlights regions where homeowners are paying tax bills that have increased significantly faster than the market value of their homes. This calculation provides a normalized look at tax burden relative to property equity across the 100 largest metro areas in the United States.

2019-2024 was the five-year period included in the broader research analysis.
2022-2024 represents the primary two-year window used for the metro area ranking.

The Home Front

This trend highlights a departure from traditional real estate expectations where tax increases typically track closely with rising property values. These findings underscore a growing disconnect between local tax assessments and current housing market valuations.

Homeowners should review their latest property tax assessments and compare the assessed value to current local market listings. If your tax bill has increased significantly while home values have stagnated, consider consulting your local property appraiser's office to understand the assessment methodology.

The takeaway

Rising tax burdens that outpace home values can strain household budgets regardless of your property's appreciation. Track your local county tax assessment notices annually and verify that your property's assessed value accurately reflects current market conditions.