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Developing Coastal Property

More people, better property value. Unfortunately for some residents, it also means higher taxes.

Taylor County has the longest coastline in the state of Florida. It's also the most undeveloped.

George Stamos, a Keaton Beach homeowner, says, "The Keaton Beach area, especially on the water, has skyrocketed in the past three to four years. We have many people coming in from out of the county; many of them from south Florida and also from Georgia."

The more people who buy land, the more the property value goes up. The value of areas such as Keaton and Dekel Beaches have more than doubled in a matter of months.

George adds, "These lots could see in the neighborhood of $4,000 to $5,000 each for a 50-foot lot on the canal. Now they're in the price range of $250,000 to $300,000.

Higher property value means higher property taxes, and that doesn't sit well with some locals.

Grady Moore of Grady Moore Realty, Inc. says, "It's beginning to hurt them because they're finding that either they're in a position where they probably need to sell their property and take advantage of these higher prices simply because of taxes and other reasons they can't afford to live there."

The extra money may help the county's economy, but some residents say it's not fair for those who cannot afford to live in an area they grew up in. They say it can be painful to see others enjoy new developments in their own backyards.


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