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Dan Sowell, CFA Property Appraiser

Contact Information 860 W. 11 th Street Panama City, FL 32401 (850)248-8401 baypa.net. Dan Sowell, CFA Property Appraiser. WHAT WE DO…. Responsibilities of the Property Appraiser To locate, identify, and accurately appraise all properties subject to ad valorem taxes.

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Dan Sowell, CFA Property Appraiser

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  1. Contact Information 860 W. 11th Street Panama City, FL 32401 (850)248-8401 baypa.net Dan Sowell, CFA Property Appraiser

  2. WHAT WE DO…

  3. Responsibilities of the Property Appraiser • To locate, identify, and accurately appraise all • properties subject to ad valorem taxes. • To maintain property value roll equity and • fairness. • To process allowable exemptions.

  4. WE MEET OUR RESPONSIBILITIES BY: • Conducting Frequent Reappraisals. • Hiring and Retaining a Professional Staff. • Making Market Data Available. • Keeping Property Owners Informed.

  5. WHAT WE DON’T DO… The Property Appraiser has NO jurisdiction or responsibility for district budgets, tax rates, special assessments, or determining the amount of taxes you pay. These matters are handled by the various taxing authorities; i.e. the county government, city government, school board and other taxing districts.

  6. BAY COUNTY TAXING AUTHORITIES 2011 MILLAGE RATES/ TAXES…

  7. NON MUNICIPAL TAXING AUTHORITIES

  8. CITY LIVING

  9. MILLAGES BY LOCATION

  10. ESTIMATING PROPERTY TAXES Basic Formula Taxable value/1000*millage rate=taxes Example of house located in Lynn Haven with taxable value of $100,000 $100,000/1000=100 X 14.0492(Lynn Haven 2011 millage rate)= $1404.92

  11. ESTIMATED 2011 PROPERTY TAX REVENUE BY TAXING AUTHORITY

  12. BAY COUNTY PROPERTY DATA

  13. PROPERTY DEMOGRAPHICS

  14. REAL PROPERTY VALUES$ IN BILLIONS ASSESSED EXEMPT TAXABLE $17.6 $4.3 $13.3

  15. Bay County Real Property Values$ in Billions

  16. $ TAXABLE VALUE BY TYPE In Billions

  17. %Value Decline by Property Types

  18. Bay County New Construction $ in Millions 1200 1,085 1000 860 800 600 510 400 65 200 0 2007 2008 2009 2010

  19. EXEMPTIONS…

  20. EXEMPTED VALUES$ IN BILLIONS

  21. EXEMPTIONS AND AMOUNT

  22. Home Sales and Homestead Exemption When a homesteaded property sells, the exemption (any exemption) stays with the property for the year in which the sale took place. The new owner must file for the homestead in their name by March 1st of the year following the sale. The value goes to market value for the new buyer as the previous owner’s cap no longer applies. This increase can be lessened if the buyer is able to port their cap from a previously homesteaded property.

  23. WHAT HAPPENED IN 2010…

  24. Deployed Military Property Tax Exemption – New Constitutional Amendment CS/HJR 833 (Adopted). The legislature passed a resolution providing that deployed military personnel receiving homestead exemption will receive an additional percentage exemption equal to the number of days that they are deployed during a calendar year divided by 365. The measure appeared on the ballot in 2010 and passed. The exemption will be effective for the 2011 tax year. Must be in support of the following operations: --Iraqi Freedom   --Enduring Freedom --New Dawn

  25. BP OIL SPILL(DEEP HORIZONS) NO DISCERNABLE IMPACT ON PROPERTY VALUES

  26. Bay County Property Appraiser’sAchievements for 2010 Sponsored Roundtables With Area Business, Governmental and Educational Leaders Increased Community Awareness of Available Exemptions and made Exemption Filing Even Easier A concerted effort to reduce petitions filed with the Value Adjustment Board (VAB) resulted in a significant savings to the county. Consolidated the Lynn Haven Branch with the main office Continued to Assess Property at the lowest value possible Continued Aggressive Homestead Exemption Fraud Program, which and added $10.9 million of taxable value to tax roll

  27. WHAT’S HAPPENING IN 2011…

  28. 2011 Objectives Seek Additional Property Tax Relief for the Widowed and Disabled Enhance Our Website with More Features and Information Seek approval to e-mail TRIM notices beginning in 2012 Close PCB office for cost savings

  29. JOINT ISSUES Estimated Taxes on New Sales Identifying Incentives With New Sales

  30. We support our troops!

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