Each county has its own property appraiser. The property appraiser in the county where your property is located will determine your property’s value for tax purposes as of January 1 of the tax year. The factors considered in determining the value of your property for tax purposes include the following factors identified in Florida Statute 193.011:
- Cash value – The amount an arm’s length purchaser (i.e., purchaser acting in purchaser’s own self-interest and not subject to pressure from the seller) would pay in cash to purchase the property.
- Best use – The best use of the property, taking into consideration how the property can be legally used (e.g., consider zoning, permits, ordinances, laws in the area etc.).
- Location of the property.
- Size of the property.
- Cost – The cost of the property and replacement value of improvements on the property.
- Condition of the property.
- Income from the property.
- Proceeds – The net proceeds from a sale of the property that would be received by the seller after closing costs.
For more information on how your property appraiser determines the value of your property, contact your county property appraiser.