HOW WILL COVID-19 IMPACT MY PROPERTY VALUE?
It is too early to know the full impact of COVID-19. Our office is governed by the Florida Constitution, Florida Statutes, and the Rules and Regulations of the Florida Department of Revenue. We are responsible for assessing the value of every property in Duval County every year, as of the January 1 assessment date, for ad valorem property tax purposes. Any impacts on value due to market conditions directly related to this hardship will be reflected in the 2021 assessments following our analysis of sales and data that occur in 2020. We highly encourage owners of income producing property to submit their properties’ income and expenses for 2019 and 2020 to assist us in determining impacts. Any financial information provided is kept confidential.
HOW DO YOU MONITOR THE MARKET?
Our appraisers utilize multiple resources during the assessment process. We analyze actual, recorded real estate transactions, review multiple publications and services related to appraisal practice and track market trends along with interviewing participants.
WILL MY PROPERTY TAXES BE REDUCED BECAUSE OF COVID-19?
Potential impact could vary depending on property type and would be reflected in 2021 assessments since Florida law requires us to value your property as of January 1, 2020. The first two cases of COVID-19 were not announced in the state of Florida until March 1, 2020.
*Values are based upon the market which have been increasing, however, the other component involving the tax rate is set by the taxing authorities and is NOT within our office’s control.
HOW WILL I KNOW IF MY PROPERTY VALUE WAS IMPACTED BY COVID-19?
Any impact would be reflected on your 2021 TRIM notice, which are mailed to property owners each August. We highly encourage owners of income producing property to submit their properties’ income and expenses for 2019 and 2020 so that we may consider impacts via the Income Approach to Value.
WHERE MAY I FIND OUT MORE INFORMATION ABOUT GOVERNMENT BUDGET DECISIONS OR ASK QUESTIONS ABOUT TAX RATES?
Keep an eye out for your August TRIM notice, which will list dates of budget-related public hearings from the Taxing Authorities applicable to your property and its taxes. The Taxing Authorities are responsible for setting the tax rate, also known as the millage rate. The responsibility of the Property Appraiser’s Office is to determine the property value, and is not involved in setting the tax rate.
You may find contact information for taxing authorities and elected officials by visiting:
BECAUSE OF THE COUNTY’S SAFER-AT-HOME ORDINANCE AND GOVERNMENT OFFICE CLOSURES, I WAS UNABLE TO APPLY FOR MY HOMESTEAD EXEMPTION. CAN I STILL APPLY FOR EXEMPTIONS IF THE DEADLINE HAS PASSED?
Due to the COVID-19 disruption, we are accepting homestead exemption applications with extenuating circumstances until September 8, 2020. Please click here: https://homestead.coj.net/WebForm1.aspx
to see how you can submit your application.