The duties of a bay county property appraiser are not that dissimilar from those of any other local property assessor. It is their role to appraise all personal and tangible property for the benefit of making the county's annual ad valum tax bill according to state standards. Appraisals, however, do not end with property value. Appraisals must still be reviewed and revised as the property itself changes in value over time. The end result of these reviews and revisions is what the assessor presents to the public for assessment.
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All assessments carry their own set of restrictions and guidelines. In order to prepare an accurate assessment, it is important to adhere to all guidelines. The guidelines come from the Florida Department of Revenue, and any Bay county property appraiser who deviates from the guidelines faces fines. One such guideline is that assessed values must be equal to or greater than the highest and lowest millage rates.
If a new development is built along a highway, the highest millage rate allowed for that highway must be used to calculate the value of its tangible personal property. That percentage is often referred to as the "market value" of that property. The state Department of Revenue issues a valuer's report that shows the market value of the property at the end of the year. The Bay county property appraiser then reviews this report and determines which millage rate is appropriate for the property.
Valerian Property Valuation - A Valuer's Guide
Some counties in Florida have rules and regulations regarding the use of market values in homestead exemption applications. The homestead exemption application must contain specific information regarding its property assessment and its homestead exemption status. Information about the property's use can be provided on the application, but the homestead exemption must be reviewed by county officials before it is submitted. For instance, if a home was restored to livability and is being rented out, it would still be required to have an appraisal. The homestead exemption must reflect the current residential address of the property.
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Many counties will accept either the full market value or the appraised value for properties being offered for sale in the new home. Other counties may require a certificate of occupancy (CO) in addition to the sales contract. In that case, the CO would be valid for one year from the date of sale. It would be based on the sales contract and not on the condition of the building at the time of sale.
All counties in Florida have a local government website where they post their real property tax certificates. If you are interested in having your taxes lowered, all it takes is filling out an exemption application on the appropriate form. Most local governments require that applicants fill out a complete on-line and print certificate at the end of the application. In that certificate, they must include: a complete street address, the homestead exemption, and the sales contract.
Many counties allow an exemption application to be filed with the county clerk on the first day of each tax year, on which day the tax year begins. If the applicant for the exemption request the exemption on the last day of the year, the tax year will end on the last day of the year. Some counties also allow an exemption to be filed on the last day of the tax year, on which day the tax year commences. For example, if the county has two taxable years, the first tax year begins on january 1st, the second tax year begins on january 4th, and the homestead exemption can be granted on the fourth day of the second year.
Other counties in San Diego County also have a different type of homestead exemption. Valerian homesteads are only considered as exempted "real property" for tax purposes, and cannot be transferred to a new owner. To qualify for this exemption, the homesteaded property must be used solely for residential purposes. In addition to the real property exemption, there are other types of exemptions available to qualified taxpayers in San Diego County. To learn more about these exemption options, contact your local San Diego real estate agent.
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