GREEN COVE SPRINGS – Roger A. Suggs, CFA, AAS, CCF, Clay County Property Appraiser, announces that on Aug. 21 the Notice of Proposed Property Tax forms, also known as Truth in Millage notices, will be mailed to all Clay County property owners.

Florida law requires the TRIM notice to be prepared and mailed each year by the property appraiser on behalf of the taxing authorities. Although the TRIM notice is not a tax bill, it is intended to notify property owners of possible changes that may appear on the November tax bill. Therefore, property owners are encouraged to review the information and deadlines carefully. The property appraiser is responsible for administering exemptions and estimating the value of all property as of Jan. 1 each year. The TRIM notice displays three values: market value, assessed value, and taxable value.

The market value is the most probable sale price (on Jan. 1), and may increase or decrease as the market dictates. Due to the upward direction of the real estate market in 2019, the majority of properties in Clay County experienced an increase in market value. The assessed value is the market value less any benefit for the Save-Our-Homes cap, or other assessment limitation. Although market values increased, the assessed values of properties with an existing homestead exemption will be capped at 2.30%, and non-homestead residential and commercial properties will be capped at 10% - with the exception of properties with new construction, additions and/or renovations.

The taxable value is the assessed value minus any exemptions. It is important to remember that while the assessed value of property may be capped, taxes are not. Ad valorem property taxes are calculated as follows: Taxable Value x Millage Rate = Property Taxes. The taxable value is estimated by the property appraiser and the millage rates are determined by the taxing authorities.

Property owners who have questions regarding an exemption status or a property’s value are encouraged to contact the property appraiser’s office for an informal review. This informal review can be handled in person, by telephone, email or mail. A property owner also has the option to file a formal appeal via petition with the Value Adjustment Board by the deadline listed on the bottom of the TRIM notice (Sept. 15). This date is also the deadline for the property appraiser to accept late-filed applications for exemptions, assessment reductions and agricultural classifications.

The property appraiser’s office is closely monitoring COVID-19’s impact on our community and the real estate market.

As previously stated, the proposed assessments were determined and certified using market-derived variables as of Jan. 1 (prior to any reported COVID-19 cases). Therefore, adjustments to the proposed assessments would be inappropriate. Any negative impacts remaining as of Jan. 1, 2021, would be considered for next year’s assessment roll.

The back of the TRIM notice displays public hearing dates and explanations of the various columns to assist property owners in understanding the notice. By law, each taxing authority must establish maximum millage rates necessary to fund their proposed budgets. The millage rates can be reduced prior to the mailing of the tax bills. Property owners who are concerned or have questions regarding proposed budgets, millage rates or resulting taxation levels, should contact the taxing authorities or attend the budget hearings listed on the notice.

Due to COVID-19, Executive Order 20-179 authorizes the taxing authorities to use “communications media technology, such as telephonic and video conferencing” for conducting hearings. Therefore, in addition to traditional in-person meetings, remote access may be available.

Updated hearing details and additional information including a TRIM Guide, property record cards, Taxpayer’s Bill of Rights, and answers to Frequently Asked Questions are available on the property appraiser’s website at www.ccpao.com.