SEBRING: The Spring Lake Community, a modern housing development, has increased in value 434% during its five years of existence, records in the Highlands county tax assessor’s office state. The 3,500 acre development, about eight miles south of Sebring on U.S. 98 toward Okeechobee, has an assessed value of $7.6 million compared to $175,000 five years ago. Tax Assessor Billy Martin said 96 homes are contained in the acreage. Don Stanick, Spring Lake Controller, said the most recent evaluation includes 86 homes assessed at $2,137,000 in Village I, while 10 homes in Village II are assessed at $279,000.
Next year’s evaluation will include a total of 157 homes as construction continues in both Villages. Coral Ridge Properties, builders of Spring Lake, has announced that two additional Villages will begin construction with models available later in the next year.