Notably, residents across the county are
benefitting from these achievements. All
thirteen municipalities in Orange County
also experienced market value growth in
2019. In fact, more than half recorded dou-
ble-digit increases since last year. Areas
like Oakland, which saw an unprecedented
18% increase in market value over 2018,
will benefit from additional tax revenue for
years to come. These resources can help
fund schools, infrastructure, parks, and
other amenities around the community. government, not-for-profits organizations
and private developers are forming to revi-
talize select communities; and new afford-
able housing developments are beginning
to break ground.
This unprecedented progress leads to an
impressive total market value in Orange
County. For the first time in history, Orange
County’s market value now exceeds $208.2
billion. To put that number in perspective,
when I was elected in 2012, the county’s
market value was just $110 billion. In early 2019, OCPA implemented an inno-
vative drone program, which allows select
field appraisers to utilize drones to ap-
praise hard to access or newly developed
areas of our county. By employing tech-
nology like drones, our agency can value
property around the county in a more
Alongside our market value growth, Orange
County continues to draw attention inter-
nationally. Not only are we one of the most
popular vacation destinations in the world
—drawing a record breaking 75 million vis-
itors in the last 12 months alone according
to Visit Orlando—but the region also con-
tinues to be a hotbed for international real
estate investment. precise manner, making our appraisal pro-
cess more effective and cost-efficient.
As we celebrate these great achievements,
we must continue to improve and overcome
the challenges facing our community. The
scarce availability of affordable housing is
one of the region’s most pressing concerns.
According to a recent report, there are only
13 affordable and available homes for ev-
ery 100 renters who need them in Orange
County. Another report shows that rent in
our region has risen by 6.8% in the last year.
The good news is that we have seen local
governments investing time and resources to
improve this issue; partnerships between
Finally, the presentation switched gears
and I was able to talk about to talk about
the future of Orange County and announce
some of the exciting ways OCPA is lever-
aging technology to assess Orange County
fairly and accurately.
Other forms of technology, like artificial
intelligence and autonomous vehicles,
are progressing every day and will ad-
vance the appraisal industry. On the fore-
front of this technology, OCPA is getting
ready to utilize machine learning to ana-
lyze photographs and identify changes in
parcels. This AI-based technology has the
sophistication to recognize any changes
to a piece of property using aerial imag-
ery and can alert us to those changes for
valuation purposes. This will result in more
accurate assessments on a timelier basis.
As revolutionary tools like machine learn-
ing help us all be more efficient and ac-
curate, OCPA will continue finding new
applications for artificial intelligence in the
appraisal industry. Whatever new technol-
ogy is on the horizon, the Orange County
Property Appraiser’s office will be ready.
At the conclusion of my presentation, I
was honored to welcome a panel of indus-
try experts on stage to further discuss im-
portant issues facing Orange County. The
guests panelists who participated include,
Dr. Alesia Scott-Ford, the Jacksonville
Field Office Director for the U.S. Depart-
ment of Housing and Urban Develop-
ment; Dr. Jason Eichenholz, Co-Founder
and Chief Technology Officer for Luminar
Technologies; Fred Kittinger, Senior Asso-
ciate Vice President for Government Rela-
tions for the University of Central Florida;
and Jeff Fagan, the 2019 Orlando Regional
REALTOR® Association (ORRA) President.
Topics discussed during the interactive
panel portion of the program included:
• Affordable housing challenges and
the impact on our region's ability to
attract new business and new talent
• Autonomous vehicles as a solution to
Central Florida's traffic gridlock
• Housing scarcity and how technolog-
ical advancements can help residents
and newcomers to Orange County
find homes
• Creative Village opening and UCF ex-
panding its presence in Downtown
Orlando
The panel discussion was incredibly infor-
mative thanks to the timely, insightful com-
mentary offered by our guest panelists.
In closing, Orange County’s future looks
brighter than ever. Our county has experi-
enced significant, but responsible growth
since 2012, weathering one of the worst
recessions in recent memory. As new con-
struction continues to be a driving force in
valuation increases, municipalities across the
county will continue to benefit from rising
residential values and additional tax revenue.
Yes, we have new challenges to face, like af-
fordable housing, but they are opportunities,
as well. As a community, we can embrace
these opportunities and continue making
Orange County an even better place to live,
work, and play.
Rick Singh, CFA
Orange County
Property Appraiser
VOL 5, Issue 4
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