3 After years of watching our home values drop - Jacksonville is now seeing a shift - with property values going UP! That could mean your taxes could go up as well. Channel 4's Jim Piggott joins us live with more on what this all means for homeowners... Jim? 3 In a way.. It will give the city more money to work with.. and if you want to sell your home your property is worth more .. But when it comes to taxes.. you could see slight increase...but that will depend on what city council will do this summer. 3 00-05 We saw for years the beating house prices have taken because of the slow economy..but Jacksonville is now watching that turn around . This year..we've seen a lot of this in Jacksonville... new construction.. in fact estimates show its increased by 626 million dollars. Well the market is better than it was before in Duval county. New construction numbers are up and there is a lot of apartments being built . A lot of new houses are getting constructed right now . and that adds up to more money fro for the city.In fact city officials estimate about 503 million dollars in property taxes will be collected next year This year the number was 487 million.that's a 16 million dollars increase . At a time when the city could use some extra fundsIt's great to see things heading in the right direction. Jim you saw us last year really struggle in trying to balance the budget. So there are some great things happening.But the city says there are some things to be concerned about. Its going to cost more to run Jacksonville. with pension cost increasing and other services going up as well\For homeowners when you do the the math ..property taxes could go up slightly . For most with a homestead exemption..there is 3% CAP in place .. and property appraiser Jim overton doesn't believe it would go up more than 1.5%The Market is still spotty . A lot of foreclosure . Almost half the sales we are seeing are still foreclosure or bank assistant sales .It's a spotty market but its a much better market than it was last year. 3 as for taxes.. that is set by council..and since pension still has not been settled..we will see a lot of debate about a property or sales tax increase.