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SJCPA Information Spring 2014 Presentation

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What do market value, just value, assessed value and taxable value mean?

Per F.S.193.011, the Property Appraiser for each county is responsible for placing “just” values on each parcel within the jurisdiction annually.  The terms just value and market value are used interchangeably.   The level of assessment for Florida properties is 100%.  Many factors influence just value including property size, condition, use, location and, in the case of commercial properties, income.

In addition to determining just values, the Property Appraiser must also administer “assessed” values.  Assessed values are those values resulting from the administration of the provisions of Florida Statute 193 as they relate to Amendment 10 (homestead properties), Amendment 1 (non-homestead properties), agricultural classification and other uses.  Each of these special property types has its own set of rules regarding the way it is assessed.  Depending upon the specifics of the parcel, the just and assessed values may be equal or the just value may be higher than the assessed value.  In no case shall the assessed value be higher than the just value.

After classifications have been considered, any applicable exemptions are subtracted from the assessed value yielding “taxable” value.  Due to law changes of the past several years, a property may have different taxable values for different taxing authorities.  The Property Appraiser has no jurisdiction over what authorities are allowed to levy or collect.

If you would like to see the values the Property Appraiser’s Office has placed on your property, you may search for you property on our Property Ownership Records Search Page.

If you would like to speak with a field appraiser, you may contact one at the location nearest you.