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Dan Sowell, CFA Property Appraiser

Dan Sowell, CFA Property Appraiser

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Dan Sowell, CFA Property Appraiser

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  1. Contact Information 860 W. 11th Street Panama City, FL 32401 (850)248-8401 baypa.net Dan Sowell, CFA Property Appraiser

  2. WHAT WE DO…

  3. Responsibilities of the Property Appraiser • To locate, identify, and accurately appraise all • properties subject to ad valorem taxes. • To maintain property value roll equity and • fairness. • To process allowable exemptions.

  4. WE MEET OUR RESPONSIBILITIES BY: • Conducting Frequent Reappraisals. • Hiring and Retaining a Professional Staff. • Making Market Data Available. • Keeping Property Owners Informed.

  5. WHAT WE DON’T DO… The Property Appraiser has NO jurisdiction or responsibility for district budgets, tax rates, special assessments, or determining the amount of taxes you pay. These matters are handled by the various taxing authorities; i.e. the county government, city government, school board and other taxing districts.

  6. BAY COUNTY TAXING AUTHORITIES 2011 MILLAGE RATES/ TAXES…

  7. NON MUNICIPAL TAXING AUTHORITIES

  8. CITY LIVING

  9. MILLAGES BY LOCATION

  10. ESTIMATING PROPERTY TAXES • Basic Formula Taxable value/1000*millage rate=taxes • Example of house located in Lynn Haven with taxable value of $100,000 $100,000/1000=100 X 14.0492(Lynn Haven 2011 millage rate)= $1404.92

  11. ESTIMATED 2011 PROPERTY TAX REVENUE BY TAXING AUTHORITY

  12. BAY COUNTY PROPERTY DATA

  13. PROPERTY DEMOGRAPHICS

  14. BAY COUNTY LAND USE • --INCLUDING WATER SURFACE BAY COUNTY CONSISTS OF 1033 SQ MILES. LAND AREA ALONE IS 764 SQ MILES OR 488,960 ACRES. • --THERE ARE 113,231 TOTAL PARCELS OF LAND IN BAY COUNTY • --THERE ARE 1144 PARCELS DESIGNATED AS AGRICULTURE IN BAY COUNTY • ---70 OF THE 1144 PARCELS ARE DESIGNATED AS IMPROVED AG, HAVE SMALL ACREAGE AND HAVE BEEN HOMESTEADED • --CURRENTLY THERE ARE 290,000> or < ACRES WITH AN AGRICULTURE EXEMPTION • --TIMBER DONIMATES AGRICULTURE IN BAY COUNTY WITH 991 PARCELS OF VARING TYPES and SIZES

  15. BAY COUNTY LAND USE • ST JOE PAPER COMPANY 156, 029 ACRES • BEAR CREEK TIMBER, LLC 38,844 ACRES • PROFUNDUS HOLDING 27,526 ACRES • PLUMB CREEK TIMBER 5,947 ACRES • CEDAR CREEK RANCH 3,012 ACRES • ACCL/BAY PROPERTIES 2,320 ACRES

  16. BAY COUNTY LAND USE

  17. BAY COUNTY LAND USE

  18. BAY LAND USE

  19. BAY LAND USE

  20. BAY COUNTY LAND USE

  21. TAXABLE PROPERTY VALUES$ IN BILLIONS • ASSESSED EXEMPT TAXABLE $17.2 $4.3 $12.9

  22. Bay County Real Property Values$ in Billions

  23. Value Decline by Property Types

  24. TAXABLE VALUE BY TYPE$ Are Billions

  25. NEW CONSTRUCTION

  26. EXEMPTIONS…

  27. EXEMPTED VALUES$ IN BILLIONS

  28. EXEMPTIONS AND AMOUNT

  29. Home Sales and Homestead Exemption • When a homesteaded property sells, the exemption (any exemption) stays with the property for the year in which the sale took place. • The new owner must file for the homestead in their name by March 1st of the year following the sale. • The value goes to market value for the new buyer as the previous owner’s cap no longer applies. This increase can be lessened if the buyer is able to port their cap from a previously homesteaded property.

  30. WHAT HAPPENED IN 2011…

  31. Deployed Military Property Tax Exemption – New Constitutional Amendment • CS/HJR 833 (Adopted). The legislature passed a resolution providing that deployed military personnel receiving homestead exemption will receive an additional percentage exemption equal to the number of days that they are deployed during a calendar year divided by 365. The measure appeared on the ballot in 2010 and passed. The exemption was effective for the 2011 tax year. Must be in support of the following operations: --Iraqi Freedom   --Enduring Freedom --New Dawn --Noble Eagle (2012)

  32. BP OIL SPILL(DEEP HORIZONS) • NO DISCERNABLE IMPACT ON PROPERTY VALUES

  33. Bay County Property Appraiser’sAchievements • Sponsored Roundtables With Area Business, Governmental and Educational Leaders • Increased Community Awareness of Available Exemptions and made Exemption Filing Even Easier • A concerted effort to reduce petitions filed with the Value Adjustment Board (VAB) resulted in a significant savings to the county. • Consolidated the Lynn Haven and Beach Branches with the main office • Continued to Assess Property at the lowest value possible • Continued Aggressive Homestead Exemption Fraud Program, which and added $10.9 million of taxable value to tax roll

  34. WHAT’S HAPPENING IN 2012…

  35. 2012 Objectives • Seek Additional Property Tax Relief for the Widowed and Disabled • Enhance Our Website with More Features and Information • Seek approval to e-mail TRIM notices beginning in 2012

  36. 2012 LEGISLATIVE SESSION Bills of Interest Related to Property Taxes --Recapture Rule (Value down and Assessment Up) --Non homesteaded (Assessment limited to 5% versus 10%) --Increases Tangible Personal Property Exemption from $25,000 to $50,000 --Taxing authorities could totally exempt property taxes for low income individuals who are at least 65 years old and have permanently resided on the property for at least 25 years

  37. PARTNERS WITH THE COMMUNITY

  38. WE SUPPORT OUR TROOPS

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