Punta Gorda Begins First Property Revaluation in 18 Years

The Punta Gorda Town Council has begun a long overdue re-evaluation of properties within the municipality.  It is an exercise that has not been carried out in the town for the past eighteen years, despite legal requirements for property valuations to be updated every five years.  Mayor Carlos Obeah Galvez addressed the matter this morning on The Morning Show, explaining that the re-evaluation process is intended to bring property values in line with current conditions.  He stressed that property taxes remain one of the town council’s primary revenue streams for upkeep, including road maintenance, sanitation, and public spaces.  Love News understands that the initiative has been met with resistance from some residents, many of whom have expressed concern about potential increases in their property tax bills. 

The re-evaluation is expected to continue in phases.