CLAY TODAY – Pursuant to Florida Statutes, Clay County Property Appraiser Tracy Scott Drake submitted the working taxable value estimates to the Clay County taxing authorities for budget planning purposes on Thursday, May 25.

The taxable value of county properties was estimated at approximately $16.5 billion – an annual increase of more than $1.9 billion, or 13% from the 2022 assessment roll.

The statutory date for the 2023 assessment roll was Jan.1. Therefore, the overall increase in value reflects the upward direction the real estate market has taken during 2022. Although market values have increased to record levels, the assessed values of properties with an existing homestead exemption will be limited to a 3% increase (excluding any additions or improvements) and non-homestead residential and commercial properties will be limited to a 10% increase due to constitutional amendments passed by voters in 1992 and 2008, respectively.

The taxable value is used to calculate ad valorem property taxes and is based on the assessed value minus exemptions.

A Certification of Taxable Value will be submitted to the Florida Department of Revenue and the local taxing authorities on or before July 1.