"Now that boom is over."
-- Jerome Fletcher
City Manager Jerome Fletcher’s opening message to North Port commissioners on his recommended 2025-26 budget included a warning that a sudden drop in property value growth to 8.7% could be a sign of tough times ahead.
“Now that boom is over,” Fletcher said, of the slower property value increase after three straight years of double-digit percentage growth.
He added that the reduced growth rate in property values was why he could not present a balanced budget and reduce property taxes by about $3 million, as commissioners had directed by consensus in March.
Read more at the Sarasota Herald-Tribune