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County taxable property values increase by $790 this year

For Clay Today
Posted 7/3/19

CLAY COUNTY – The 2019 preliminary taxable value of Clay County property was estimated at approximately $11.4 billion – an increase of more than $790 million – according to the Certification of …

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County taxable property values increase by $790 this year


Posted

CLAY COUNTY – The 2019 preliminary taxable value of Clay County property was estimated at approximately $11.4 billion – an increase of more than $790 million – according to the Certification of Taxable Value submitted last Thursday, June 27, to the Clay County taxing authorities and the Florida Department of Revenue.

The preliminary taxable value is slightly higher than the estimate reported on June 1.

The statutory assessment date for the 2019 assessment roll is Jan. 1, 2019. Therefore, the overall increase in value is a reflection of the upward direction the real estate market has taken during 2018.

Although market values have increased, the assessed values of properties with an existing homestead exemption will be limited (‘capped’) at a 2.10% increase (excluding any additions or improvements) and non-homestead residential and commercial properties will be limited (‘capped’) at a 10% increase due to constitutional amendments passed by voters in 1992 and 2008, respectively.

Taxable value is based on the market value minus differentials (‘caps’) and exemptions.

The taxing authorities have until August 4th to notify the property appraiser of their 2019 proposed maximum millage rates, and the date, time and place of their respective public budget hearings. This information will be used by the property appraiser to prepare the Notice of Proposed Property Tax forms (TRIM notices), which will be mailed to all property owners in mid-August.

Certified information will be updated on the property appraiser’s website, www.ccpao.com, following assessment roll approved by the Department of Revenue in mid-July.