Residents gather to hear Property Appraiser
BY LISA NEWELL Gulf Breeze News lisa@gulfbreezenews.com

Property valuations are puzzling to many homeowners, who find that their tax bill is different from a taxpayer with a similar home.

Greg Brown, Santa Rosa County Property Appraiser told those gathered at his Town Hall meeting, has to do with the Save Our Homes Amendment which caps property valuation on homesteaded properties at three percent per year until the property is sold.

He said a home sold in 2002 for $100,000 with homestead applied for in 2002 would pay on taxable value of $75,000.

If the property value rises to $115,000, the Save Our Homes initiative would keep the valuation at $103,000, making the homestead exemption worth $31,910. The tax bill on that home would be just $1,650. A similar home sold a few years later for $251,817 would pay a $3,481 tax bill.

Brown and all property appraisers in the state of Florida must determine property values annually on January 1 based on sales from the previous year. Homeowners receive the notice of proposed tax in August and taxes are due the following year on March 31.

Brown said that while the Santa Rosa County millage rates stayed the same, the increase in property value resulted in a windfall for the county as revenues almost doubled over the past five years.

However, Brown said Tallahassee lawmakers are currently studying the way counties raise revenue, and changes are expected from this session.