Sarasota taxable values continue to climb

Sarasota County taxable values continue their climb, and the local unemployment rate last month was the lowest it has been in six years. Both statistics add to growing evidence of economic recovery in the region.

Preliminary taxable values for the county indicate a 6.4% increase to $43.4 billion in the current fiscal year over 2013, according to the Sarasota County Property Appraiser. Preliminary values within the city of Sarasota grew 5.5% to $7.2 billion in the same timeframe.

Growth in property values for the unincorporated portion of Siesta Key outpaced the city and county with a 7.8% increase to $4.2 billion, according to values assigned to the Siesta Key Lighting District, while the Siesta Key Public Improvement District recorded a 3.3% increase in values.

Employment in the North Port-Bradenton-Sarasota metro area grew 5% to roughly 305,000 in April compared to the same month in 2013, deflating the unemployment rate to 5.3%. That’s the lowest the local unemployment rate has been since December 2007, according to data retrieved from the U.S. Bureau of Labor Statistics.

The professional and business services sector led year-over-year job growth in Sarasota, with a 10.8% increase in employment in April, while the local construction industry added 1,300 jobs over the same period. Employment in the government sector fell slightly in April.