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!