The Lee County Property Appraiser’s office released the 2009 estimated real and personal property values Friday. For Lee County there was an overall 24.83 percent decrease in taxable value. The school district experienced a 24.32 percent decrease.

The Lehigh Acres Fire District led the pack with a 49.92 percent loss of taxable value. Except for Boca Grande, Captiva, Fort Myers Beach, Matlacha, and Sanibel all of the fire districts had 19 percent or greater decrease in valuations.

Such a loss in revenue may mean the laying off of firefighters and the closing of one or two stations and a cutback of ambulance service. Chief Don Adams could not be reached for comment on Friday. The fire board of commissioners okayed a plan to save money at its last meeting two weeks ago to allow staff and Chief Adams to work a four-day work schedule, 10 hours a day and close the administrative offices down on Fridays at the Milwauke Blvd. fire station.

The loss of nearly 50 percent in income is higher than Adams and his board had anticipated as they worked with the budget at a special meeting two weeks ago.

The Save Our Homes differential value plunged 63.06 percent. Due to the recapture rule homesteaded property will see a 3 percent increase in taxes, according to the county appriaisal office. The legislature failed to adopt Rep. Nick Thompson’s bill to abolish the rule.

Among the cities Cape Coral led with a 33.48 percent decrease followed by City of Fort Myers at 23.41 percent, City of Bonita Springs at 20.07 percent, Town of Fort Myers Beach at 15.55 percent, and Sanibel at 10.19 percent.

Little additional value was added by reason of new construction. For example Cape Coral added only $141 million compared to last year’s increase of $892 million. It had no significant effect on the more than $5 billion overall loss of property values.

If the taxing districts try to make up the difference between last year’s and this year’s taxable values at the same spending levels a huge tax increase will be required.

As of May 27 the Lee County median home is down to $88,500 compared to December 1998 of $78,500 and the peak of $322,300 in December 2005.

Final figures are due on July 1 from Property Appraisal Ken Wilkinson’s office. Little change is expected in the numbers.