County appraiser: Taxable values increased $825 million last year

For Clay Today

Posted 6/30/21

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County appraiser: Taxable values increased $825 million last year

Posted Wednesday, June 30, 2021 12:00 pm

For Clay Today

CLAY COUNTY – Clay County Property Appraiser Tracy S. Drake submitted the Certification of Taxable Value to the Clay County taxing authorities and the Florida Department of Revenue on Tuesday, June 29. The 2021 preliminary taxable value is estimated at approximately $13.020 billion – an increase of more than $825 million from the prior year.

The statutory assessment date for the 2021 assessment roll was Jan.1, 2021. Therefore, the overall increase in value is a reflection of the upward direction the real estate market has taken during 2020. Although market values have increased, the assessed values of properties with an existing homestead exemption will be limited to a 1.4% 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.

Taxable value is based on the market value minus differentials and exemptions.

According to Florida law, the taxing authorities have until Aug. 4 to notify the property appraiser of the 2021 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.