Slide 1

Report
Dan Sowell, CFA
Bay County
Property Appraiser
Bay County Property Appraiser
Contact Information
Main Office
650 Mulberry Avenue
Panama City, FL 32401
(850)784-4095
Beach Branch
301 Richard Jackson Blvd.
Panama City Beach, FL 32407
(850)236-3234
baypa.net
Lynn Haven Branch
732 Ohio Avenue
Lynn Haven, FL 32444
(850)265-4364
FUN FACTS
Number of Properties:
112,674 (73% SFR)
Condominiums:
19,897
Units by year: 2004-11769; 2005-13,173; 2006-13,433; 2007-16,390
Single Family Home Parcels:
52,709
Homes Built Before 1940
1,696
Properties with Homestead Exemption
40,965
HX’s are 31% of total parcels and 20% of taxable value
Low Income Senior’s Exemption
2,671
Swimming Pools
9,032
Golf Courses
8
Highest Price Paid for a Single Family Home in 2008
2,300,000
New Houses Built in the Last 5 Years:
2004
1190
2008
315
Number of parcels and acreage with agricultural classification
2003
1537
329,000 acres
2009
1125
262,000 acres
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.
Taxing Authorities
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.
Bay County Real Property Values
$ in Billions
Taxable Value for Operating Millage
18000000
510,363
16000000
14000000
12000000
10000000
16,678,030
17,138,644
17,059,205
15,257,553
8000000
6000000
4000000
2000000
0
2006
2007
2008
Green = New Construction
2009
Bay County Tax Roll
Taxable Value
Taxing Authority
Bay County
Fire
County Mosquito
Callaway
DIB
School DIS/RLE
Beach Mosquito
Lynn Haven
Mexico Beach
Parker
Panama City
Beach
Panama City
Springfield
NWFWMD
2008 2nd Roll 2009 Preliminary
Difference
$17,856,683,797 $16,306,460,867 -$1,550,222,930
$7,327,357,433 $6,671,902,208
-$655,455,225
$6,902,231,972 $6,500,934,394
-$401,297,578
$564,033,998
$550,537,713
-$13,496,285
$74,195,168
$68,311,279
-$5,883,889
$18,931,534,644 $17,504,689,696 -$1,426,844,948
$10,072,202,904 $8,785,725,881 -$1,286,477,023
$1,031,040,472 $1,054,729,956
$23,689,484
$598,189,679
$483,325,690
-$114,863,989
$218,777,658
$218,363,306
-$414,352
% Difference
-8.68%
-8.95%
-5.81%
-2.39%
-7.93%
-7.54%
-12.77%
2.30%
-19.20%
-0.19%
$4,823,181,344 $4,311,854,933
-$511,326,411
$2,368,359,621 $2,280,556,114
-$87,803,507
$218,968,124
$218,810,213
-$157,911
$18,190,151,100 $16,623,130,252 -$1,567,020,848
-10.60%
-3.71%
-0.07%
-8.61%
HOW ARE YOUR TAXES CALCULATED WHEN APPLYING THE 10%
NON-HOMESTEAD CAP?
THE 10% NON-HOMESTEAD ASSESSMENT CAP ONLY APPLIES TO THE NON-SCHOOL
PORTION OF YOUR TAX BILL. THEREFORE, THE SCHOOL PORTION OF YOUR TAX BILL
IS CALCULATED ON THE FULL MARKET VALUE OF YOUR PROPERTY.
EXAMPLE:
A NON-HOMESTEAD PARCEL IN PANAMA CITY HAD A 2008 ASSESSMENT OF
$300,000. IN 2009 THE MARKET INDICATED AN ASSESSMENT OF $400,000.
PANAMA CITY’S 2008 MILLAGE RATE WAS 14.4598.
• STEP 1: $400,000 X 6.763 (2008 BAY DISTRICT SCHOOL’S MILLAGE RATE) =
$2705.20
• STEP 2: $300,000 PLUS 10% = $330,000
• STEP 3: $330,000 X 7.6968 (NON-SCHOOL MILLAGE RATES) = $2539.94
TOTAL TAXES OF $5245.14
IF THE 10% NON-HOMESTEAD ASSESSMENT CAP WAS NOT IN EFFECT, YOUR TAXES
WOULD BE $5783.92
THE 10% CAP SAVES YOU $538.78 IN THIS EXAMPLE.
Amendment One Provisions
$50,000 Homestead Exemption
Portability implemented
10% cap on non-homesteaded
$25,000 Tangible Personal
Property Exemption
Help for fiscally constrained counties
OTHER EXEMPTIONS
Seniors
$50,000
Disabled
$500
Widowed
$500
Veterans
Veterans %
Disability
$5,000
% of Combat
Disability
T&P (sc/nsc)
100% of Tax. Value
2009 LEGISTLATION RESULTS
Constitutional Amendments
• Deployed Military Property Tax Exemption –
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 will appear on the ballot in 2010. If passed, the
exemption will be effective for the 2011 tax year.
• First-time Homebuyer Exemption, 10% to 5%
Assessment Cap – SJR 532 (adopted). The legislature also
passed a resolution providing for a First-time Homebuyer’s
exemption and reducing the current 10 percent assessment
cap to 5 percent for non-homestead properties. The
exemption will apply to first-time homebuyers, which are
defined as individuals that have not purchased a home in the
past 8 years. The exemption will be 25 percent of the
assessed value but it cannot exceed $100,000. The
exemption is reduced by 5 percent each year until it
disappears. The measure will appear on the ballot in 2010.
If passed, the exemption and assessment cap will be
effective for the 2011 tax year. The exemption, however,
will apply to a home purchased during 2010.
OTHER LEGISTLATIVE ACTIONS
• Recapture – HJR 1087; SJR 1164 (failed).
Several bills were filed amending either the
constitution or section 193.155 to eliminate the
recapture of the Save Our Homes (SOH)
assessment differential in years where the just
value decreased. While HJR 1087 passed the
House committees and was placed on the
calendar, none of the other bills were voted out of
the referenced committees. Thus, the resolutions
were not passed.
• 1.35% Limitation on Aggregate Ad Valorem Taxes on Real
Property – SJR 738; HJR 385 (failed).
This constitutional amendment limited the total aggregate ad
valorem taxes levied by counties, municipalities, school
districts and special districts on any parcel of real property to
1.35% of the highest taxable value of the property. It required
the legislature to provide by general law for distribution of
revenues collected on parcels that exceed the 1.35%
limitation and applies the limitation to all property except for
ad valorem taxes levied for the payment of local bonds issued
to finance or refinance capital projects authorized by law
when approved by a vote of the electors or to refund
outstanding bonds, or levied for periods not longer than two
years when authorized by a vote of the electors.
• TABOR/Government Revenues/Voter
Approval – SJR 1906; HJR 1263 (failed).
The resolutions regarding TABOR, i.e.,
taxpayer bill of rights, limited the growth of
local governments from the 2010-2011 fiscal
year to the combined rate of inflation and
population change in subsequent years absent
a vote of the electors. These resolutions did not
pass.
• Property Tax Discount/Disabled Veterans –
SJR 1550; HJR 1155 (failed).
Several years ago, disabled veterans were
provided a discount from property taxes equal to
the percentage of their disability if they were a
Florida resident at the time they entered the
service. This amendment removed the
requirement that the disabled veteran be a Florida
resident at the time he or she entered the service.
These resolutions did not pass.
2009 News for Bay County Taxpayers
•
Homesteaded properties assessments will only rise .10 of 1%
•
Median Condominium Sale Prices are down 15% - 20%; we are estimating a 20%
reduction in overall condo values; or about $800 million from 2008
•
Residential Resort Property Values are down 20% - 25%
and as much as 40% in some areas (varies by area)
•
Gulf front per front foot value is down from $18,000 to $13,030
•
$500 Million in New Taxable Construction ($287 million from condos/1389 units/7
projects)
•
County-wide average value down approximately 9% to date
•
Greater consideration than ever given to foreclosures and auction sales in our
assessment analysis
•
Lynn Haven office will close on September 30, 2009 due to budget issues and
limited use
Bay County Property Appraiser’s
Major Objectives for 2009
• Sponsor Roundtables With Area Business, Governmental and
Educational Leaders
• Increase Community Awareness of Available Exemptions and make
Exemption Filing Even Easier
• Have our office become more involved in community activities
through the addition of a Community Affairs Director
• Need a speaker-- call Cindy Messer @ 784-4095
• Seek Additional Property Tax Relief for the Widowed and Disabled
• Enhance Our Website with More Features and Information
• Continue Aggressive Homestead Exemption Fraud Program, which
has added $4.6 million of taxable value to tax roll
• Continue to Assess Property at the lowest value possible
• Seek approval to e-mail TRIM notices beginning in 2010
CALENDAR OF EVENTS
• July 10, 2009 – Values provided to taxing authorities
• Aug 21, 2009—Schedule for mailing TRIMs
• Sep 15, 2009 –Last day to file petitions*
• Sep 28-Oct 2 – We’ll be moving to 860 W. 11th St.
• Nov 1, 2009----Tax bills mailed
•
*Everyone is encouraged to call, visit or email our office if they have questions
regarding their assessment
We are here to help!
Please contact our office at
(850)784-4095 if
we can assist in any way.
We support our troops!

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