Viewpoint - Update from the Property Appraiser
FOR IMMEDIATE RELEASE
Contact: Kevin Lily, 904-491-7302
Thank you for the opportunity you have given me to serve as your Property Appraiser for another term. It is truly an honor and a privilege, and I appreciate your feedback about our office and your continued support. For several years in a row we have reduced our expenses by cross training staff, outsourcing work, and constantly improving efficiency through improved technology. We will continue to look for ways to save tax dollars, and offer the very best in customer service. I want to thank some of the other Constitutional Officers; Vicki Cannon, Supervisor of Elections; John Drew, Tax Collector; and Sheriff Bill Leeper, for working with us each year to share resources that have helped reduce our expenses and save taxpayers money.
It is the statutory responsibility of the Property Appraiser’s Office to list and appraise all properties within the County to a fair market value every year and to administer property tax exemptions. It is the commitment of this office to execute the duties and responsibilities of the office of Property Appraiser in a fair and equitable manner. Therefore, we have continued to work hard to try and make sure we are not appraising property for more than it could reasonably sell for in the open market. The 2016 market value for the County is up by about 6% compared to 2015, while the taxable value is up more than 5%.
On July 21st, this 2016 assessment roll was officially approved by the Department of Revenue for Nassau County and reflects an increase in the taxable value for a third consecutive year. This is a result of a steady increase in sales activity during the 2015 calendar year and completed new construction. The value increase is directly related to supply and demand in the economy and a continuation of historically low interest rates helping to fuel the increase in new construction. As a result, for the 2016 roll, new construction completed in 2015 added nearly $150 million to the taxable value.
Properties that have had a homestead exemption are protected by the “Save Our Homes” Amendment which caps the amount of increase to the assessed value at no more than 3%, or the consumer price index, whichever is lower. For 2016, the increase is capped at .7%. Also, it should be noted that higher property values do not necessarily mean a tax increase. Local taxing authorities have the option to use the “Roll Back Rate” which would keep taxes at their current level through the adoption of this lower rate. Additional revenue would be received from taxes on the new construction value.
In mid-August, all property owners will receive their Notice of Proposed Property Taxes, also known as the TRIM (Truth in Millage) notice. This important mailing will give you your 2016 values and list any exemptions you are receiving. I strongly encourage you to read this notice. It is the basis for your tax bill mailed to you in November. If you believe your property is worth less than the Market Value stated on the notice, please call or email our office to discuss. We will be glad to review it with you. Furthermore, if you do not see an exemption you applied for, or you are receiving an exemption you no longer qualify for, you need to contact our office. It is the goal of the Property Appraiser’s office to be efficient, consistent, and fair with all property owners. Please visit our website at www.nassauflpa.com for additional information concerning your property. The 2016 values have been posted.
As Property Appraiser I appreciate the opportunity you have given me and I am here to continue serving you to the best of my ability.
A. Michael Hickox
Nassau County Property Appraiser