Melanie.spea…, Home Owner in Jacksonville, FL

Pretty home, but it only appraises in the high 300's according to the city's property appraiser. Why exactly is it listed for 300k more?

Asked by Melanie.speaks, Jacksonville, FL Sun Jul 7, 2013

This question was asked from http://www.trulia.com/property/3117908766-1828-Powell-Pl-Jac…

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9
There are many reasons the tax appraisers office has assessments at levels very different than market values. One major reason would be the homestead exemption privilege and the fact that the assessment cannot go up by more than 3% per year. Market values change much more quickly both up and down.
1 vote Thank Flag Link Sun Jul 7, 2013
This is not uncommon throughout Florida. A recent study I completed of several communites in the Tampa area showed public record values off by as much as 100% of SALE VALUE. The average was 70% in desireable communites. One such community has 11 sales so there exists current reliaable data.
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Be patient...the taxes will eventually catch up,...and when balanced if there is a bump in the road, the taxe value will be greated than the SALE VALUE.
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If you want the REAL values for a property, you should consider consulting with those who do this hundreds of times a year. There is real vaule in working with a professional.

Best of success,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420.4041
http://RealEstateMadeEZ.us
0 votes Thank Flag Link Mon Jul 8, 2013
Forgot to mention this VERY IMPORTANT point.....the city will re-assess this property.......when a property is sold it is re-assessed based on the sales price of the property...usually about 92% of the sales price....and do not forget....if this is your primary home you will not be taxed on $50,000 of the assessed price.

Donna Delegal
"The Real Estate lady"
Oceanside Real Estate
startpacking@comcast.net
(904) 732-PACK AKA (904) 732-7225
0 votes Thank Flag Link Sun Jul 7, 2013
Thank you for your question Melanie. The seller purchased the home in 2003 for $415,000. At that time the home was assessed for the current taxing value.....it has NOT been updated.(evidently)

The current home owner installed an inground pool and a gas fireplace in 2004.
Then...according to the listing agents....the home was renovated and expanded by architect BILL LEUTHOLD 5 years ago....creating a new kitchen with gas range...a den and dining area...a new first floor bedroom and bath and new expansive family room and outdoor terrace....also, upstairs there is a new hugh master suite with 2 walk in closets...and master bath with claw foot tub and new shower...also...a private balcony overlooking the pool , terrace, and back yard.

So.....you see that the additions and renovations increased the value of this lovely home that was built prior to the 1920"s ....and they built them to LAST in those days!

Don't forget that this home is LESS than a block from the St Johns River and is in the beautiful,, traditional neighborhood of Riverside.

Would you like to see this home? If YOU choose....contact my son, Hickory, or me, Donna....we would be happy to show you this home and others so you can view ALL YOUR OPTIONS.

Thank you again for your question.

Donna Delegal
"The Real Estate Lady"
Oceanside Real Estate
startpacking@comcast.net
(904) 732-PACK (904) 732-7225
Hickory Delegal.... h.delegal@comcast.net (904) 463-5664
0 votes Thank Flag Link Sun Jul 7, 2013
Appraisers and buyers set the value, not the city property appraiser. Homes are appraised in accordance to similar properties in the neighborhood and or area, making adjustments where need be. The appraiser can go back 3 to 6 months. Also note that smaller homes sell for more dollar per sqft, so that is not an accurate way of pricing homes either. However, a seller can have an appraisal for 500k, but unless he has a buyer willing to pay it, then seller simply has a sheet of paper. An appraisal gives fair market value, but ultimately it will be up to whatever the buyer is willing to spend and on the same note, what the seller is willing to take.
0 votes Thank Flag Link Sun Jul 7, 2013
Good Day,

The city finds a value for all homes in Jacksonville. They are looking for an average value, might be high or low. When buying or selling a home, I pay no attention at all to the appraiser value.

Regards,
Blaine Rabe
Exit
904-874-0814
0 votes Thank Flag Link Sun Jul 7, 2013
Well...they are not always dependable. I am happy to go over some of the neighborhoods values with you and compare other properties in the neighborhood to show you how market adjust for possible pricing for this home. If you are interested, then please feel free to contact me. I am happy to help.

Have a pleasant day!
0 votes Thank Flag Link Sun Jul 7, 2013
The property appraiser is not always right. It can be adjusted if the owner makes claims to it to keep taxes down. It looks like a beautiful home, something over 500K for sure.
0 votes Thank Flag Link Sun Jul 7, 2013
Hi Melanie,

Just reading the description will give you some idea to why the listed value. The county property appraiser in setting values, $432,329, in many instances will not take into consideration upgrades, historic value and other value options that will raise the value. Ultimately an appraiser will set the value for a home taking into consideration all the options on price.

Should you have continued interest in the home please contact me for a showing.

Best Regards
Charlie
Charlie Chorman - REALTOR
Accredited Buyer Representative (ABR)
Coldwell Banker Vanguard Realty
904-571-1358
0 votes Thank Flag Link Sun Jul 7, 2013
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