Determining "Just Value"

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FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Taxes Affecting Real Estate

Section 2 of 17

The County Property Appraiser is responsible for assessing all properties within the county. By law, they must appraise property at its "just value," which is essentially market value. (a) Provisions under Amendment 1: This amendment limits the annual increase in assessed value for homesteaded properties (Save Our Homes) and provides portability benefits. (b) TRIM Notice: In August, property owners receive a "Notice of Proposed Property Taxes," commonly called the TRIM notice (Truth in Millage). This is not a bill; it is a preview showing the assessed value and estimating what the taxes will be. This gives the owner time to protest the value before the final bill is set.