Dm Brown, Other/Just Looking in 38852

Manatee assessed tax value on house in River Club: 2010 tax assessment is 30% less than 2009's. Has the house's value depreciated that

Asked by Dm Brown, 38852 Mon Aug 16, 2010

much in 1yr? Are tax assessments an indication of a property's true real value?

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Answers

2
Tina Ciaccio’s answer
Transactions occur every day in the marketplace that effect property assessments.

For instance, property is bought or sold, built or renovated, rented or leased. There are many factors that an appraiser considers when estimating the value of property (1) the recorded sales of similar properties (2) the replacement cost (3) the property's location, size and condition

The basic formula for determining property taxes is: Property Taxes = Taxable Value x Tax Rate

Taxable value is determined by the Property Appraiser's office. The millage rate (tax rate) is determined by each of the taxing authorities (i.e. cities, the unincorporated county and school board) that the property resides in.

So, a change in either the property value or the tax rate will have an effect on your taxes.

Below is the link to Manatee County Property Appraiser.

All the Best,

Tina Ciaccio
Realtor, SFR
Peens Property Group
941-685-8420
0 votes Thank Flag Link Tue Nov 9, 2010
Dm Brown,

It depends. If the home was purchased in 06' and it was owner occupied, it would be covered by our Save Our Homes real estate tax policy. That means the tax assessed value will not rise or fall over 3% per year. If that same home was sold in 2009, the home is reassessed at thecurrent market values and that could be the reason for the 30% drop. As a home owner in the area....I hope this is the case:0

Cheers
Mike Messineo
Nola Lending
941-586-5384
0 votes Thank Flag Link Fri Oct 22, 2010
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