The duties of a Bay County Property Appraiser are important to the citizens of Bay County. Real Property is classified into four categories: business, residential, retail, and agricultural. Appraisers assess the value of all personal and business property in Bay County that will be sold. The Appraisal process is used by agents for selling or purchasing commercial and residential real estate. The Appraisal also determines the fair market value for the community as a whole.
The role of the bay county property appraiser is to assist the taxing authorities in setting the proper value for the community. By examining the real property and performing an unbiased analysis, the bay county property appraiser can arrive at a fair value for the community. Appraisals are frequently utilized by taxing authorities when determining whether to issue a tax rate, for example. The Appraisal provides the property owners with the information they need to determine if they should seek legal counsel or otherwise engage in negotiations with the taxing authority. If the assessment determines that the property is not worth as assessed, the property owners may be able to request a variance to the assessment.
The role of the bay county property appraiser is especially important in the case of homestead exemptions. In Florida there are two types of homestead exemptions, both of which are available to residents of the state. The first, the homestead exemption for the year of residence for the "dominant" family, may be filed by any resident of the state who owns a home for at least five years immediately before the effective date of the homestead exemption.
What Does A Bay County Property Appraiser Know About Your Home?
The second type of homestead exemption is the millage exemption. Property owners in Florida who have owned their homes for at least five years prior to the effective date of the millage may file a statement with the bay county property appraiser which states that the property was built with the assistance of a professional contractor. The appraiser must also provide the homeowners with an appraisal certificate that details the value of the homestead property as well as information on the millage rate.
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Appraisers are employed by the county and must follow strict guidelines established by the Florida Department of Revenue. The Department of Revenue sets forth the guidelines for how appraisers should evaluate real property. These guidelines include:
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In order to properly determine a fair market value the real estate appraiser must take many factors into consideration. They must determine the fair market value according to the guidelines established by the Florida Department of Revenue. First, these guidelines require the appraiser to obtain copies of comparable sales in the last three years. Second, in order to determine the true value of the home it is necessary to obtain copies of recent sales in the area. The third factor, the real estate appraiser must consider is whether or not the home is located in a place that receives a fair amount of tourist traffic. Panorama as well as the neighborhood in which a home is located play a major role in the value of a Florida property.
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The final factor that is used by the bay county assessor to determine the property value is the panorama. A complete analysis of a home must take into account all aspects of the landscape such as the number of garages present, if there are any and whether they are placed on the land itself or if they are on adjacent properties. Also included in the calculation of a home's assessable value is the amount of curb appeal, a property possesses. In order to obtain a correct assessment the assessor must send out a trim notice to all taxing agencies in the county.
The next time a property appraiser in Panama City FL makes a recommendation concerning an appraisal, it is important for you to obtain the appraiser's full certification listing and contact information. This information may be found on the internet by searching for the certified appraiser. It is also good practice for you to ask the real estate agent who sold you your house what appraisal it should have been. If they refuse to share this information, it is in your best interest to hire another appraiser.
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