Residential Property in Hammock Dunes CDD Comprises 14.4 Percent of all Taxable Flagler Co. Real Property Value

Gated residential properties in Island Estates, Hammock Dunes, Harbor Village Marina, Ocean Hammock, Cinnamon Beach and Hammock Beach are clustered on only 916 of Flagler County’s 365,286acres.

Palm Coast, FL – March 24, 2014 – Gated residential properties in Island Estates, Hammock Dunes, Harbor Village Marina, Ocean Hammock, Cinnamon Beach and Hammock Beach are clustered on only 916 of Flagler County’s 365,286 acres. Yet, these properties comprise 14.4% of Flagler County’s taxable real property (real estate).

The Hammock Dunes CDD (Community Development District)  encompasses the 2,258 acres of the Ocean Hammock DRI (Development of Regional Impact). It covers much of the area known locally as The Hammock, which sits astride US A1A between the Intracoastal Waterway and the Atlantic Ocean. The HD CDD comprises 0.63% of the total acreage in Flagler County. That portion of the HD CDD designated as residential comprises only 0.25% (one quarter of one percent) of the county’s total area.

Small in size but large in impact. The HD CDD area was part of the original ITT development known as Palm Coast, but it was not included in the City of Palm Coast as incorporated in 1999. The City of Palm Coast stops at the ICW. How important is the HD CDD to the Palm Coast area? The table below pretty much sums it up.

• The total 2013 taxable value for ALL real property in the HD CDD is $865,897,200.
• The total 2013 taxable value for ALL real property in Flagler County is $5,905,330.
• Only 3.2% of Flagler's vacant residential lots are in the HD CDD, but those lots represent 22.9% of the total 2013 taxable value for vacant residential lots in the county.
• Of all single-family homes in the county, only 2.1% are within the HD CDD but this small number comprises 9.5% of the 2013 taxable value for all county single-family homes.
• 28.2% of Flagler's condominiums are within the HD CDD. These account for 53.9% of all 2013 county condominium taxable value.

Of the 257 Flagler condominiums listed for sale in MLS, 45.1% are located within the HD CDD, mostly oceanfront.

• The median listing price for HD CDD condominiums is $499,000. The average listing price/square foot is $294.14.
• The median listing price for Flagler condominiums located outside the HD CDD is $179,900. The average listing price/square foot is $141,56.

More about the HD CDD and its development in upcoming articles.

Map of Hammock Dunes DRI