RICK SINGH, CFA ORANGE COUNTY PROPERTY APPRAISER PRESENTS STATE OF ORANGE COUNTY REAL ESTATE ANNUAL REPORT

Transcription

1 RICK SINGH, CFA ORANGE COUNTY PROPERTY APPRAISER PRESENTS 2018 STATE OF ORANGE COUNTY REAL ESTATE ANNUAL REPORT

2 WELCOME MESSAGE FROM RICK SINGH, CFA TABLE OF CONTENTS Orange County at a Glance 1-9 Timeline Orange County Property Appraiser (OCPA) Report Appraisal Excellence Accountability Customer Service OCPA Community Outreach Social Media and Communications Community Engagement 20 It is my pleasure to present the 2018 Annual Report of the Orange County Property Appraiser s Office. This Annual Report is an important reference guide, and focuses on how the services we provide can positively impact the neighborhoods where we live, work and play. It is a collaborative effort prepared by OCPA staff to share deeper insight into the critical role that our office plays in the community. AWARDS/RECOGNITIONS Within Florida s complex property tax system, we are charged with determining the fair and equitable value of all properties within Orange County. In addition, we have the opportunity to engage with our taxpayers about homestead exemption and other money saving benefits through world-class customer service and our award-winning website. Orange County is one of the most unique counties in the nation, perhaps in the entire world, with historical growth and record-setting new constructions levels. I am humbled and honored to serve as your Orange County Property Appraiser. Thank you for the opportunity, and please contact us with any questions or comments PUBLIC INFORMATION AWARD 2018 IAAO CERTIFICATE OF EXCELLENCE Your Orange County Property Appraiser, IAAO Ian W. McClung International Award Orange County Property Appraiser Rick Singh is the recipient of the 2018 International Association of Assessing Officers (IAAO) Ian W. McClung International Award. This award is presented to an IAAO member whose efforts have improved the development of valuation professionals around the world and encouraged the advancement of the assessment community in a global environment.

3 ORANGE COUNTY AT A GLANCE QUICK STATS GROWTH RESIDENTIAL NEW CONSTRUCTION Apopka FAIR AND EQUITABLE MANUFACTURING RECREATION EXPANSION SCHOOLS SCHOOLS ORLO Property VALUE Construction Lockhart Maitland VISTA OaklandDYNAMIC Winter GardenHOMES College CONDOS Park EDUCATION Total Population 1.35 M* Veteran Population 63,399* MARKET Horizon West INDUSTRIAL Ocoee RESORTS ToyStoryLand FUTURE West Orange WESTGATE RESORTS Buena Vista CENTRAL FLORIDA Expansion Offices new Pine Hills DEVELOPMENT Windermere Epcot Disney Star Wars Land Bay Lake CREATIVE VILLAGE Volcano Bay Universal I-Drive StarFlyer Tourism Sea World Total Housing Residential 372,641 WATERPARKS PARCELS CITY OF ORLANDO I-4 CORRIDOR Tangible Personal Property Median Age 34* DEVELOPING MEDICAL Eatonville Winter Park BALDWIN College Park PARK TRANSPORTATION Development Orange County Timeshare DIVERSE Downtown Theme Parks EDGEWOOD Belle Isle Retail government Total Apartment Units 128,047 Assisted Living Facility Exemptions 139 Apartments GROWTH Professional accountability VALUE UNIVERSITY Technology OF CENTRAL FLORIDA Multi-Family strong economy BITHLO UCF School of Medicine Condominiums HOTELS VALUE EQUITABLE MEDICAL CITY SMARTHOMES Rental FLORIDA KPMG Orange INNOVATION USTA National Campus taxpayers RESEARCH SUNRAIL Agricultural Campus Hospitals Laureate Park LakeNona BEAUTIFUL Median Household Income $50,720* Senior Population 157,950* *U.S. Census Bureau ADVANCED Residential Parcels 287,062 Single-Family 51,878 Condominium 26,610 Vacant 20,354 Townhouse 9,068 Multi-Family 4,279 Manufactured Homes 399,251 Total Residential Non-Residential Parcels 829 Apartments 279 Hotels 128,047 Apartment Units 86,526 Hotel Rooms 117 Mobile Home Parks 12,863 Mobile Homes 72 Timeshares 16,228 Timeshare Units (represents almost 850,000 timeshare unit weeks) 9,585 Condominium 5,683 Vacant 4,501 Retail 3,798 Industrial 2,714 Office 1,606 Commercial 1,553 Agriculture 27,143 Gov t, Inst., Other 57,880 Total Non-Residential 457,131 Grand Total 61,990 Tangible Personal Property (TPP) accounts *Some data reported may be subject to change. 1

4 2018 ORANGE COUNTY MARKET VALUE BY TAXING AUTHORITY Orange County Government/School Board $188.8 Billion Unicorporated $96.7 Billion City of Orlando $50.8 Billion Bay Lake & Lake Buena Vista $13 Billion Winter Park $8.2 Billion Apopka $4.9 Billion Winter Garden $4.7 Billion Ocoee $4 Billion Maitland $3.5 Billion Belle Isle $1 Billion Windermere $888.2 Million Edgewood $461.7 Million Oakland $376.8 Million Eatonville $299.6 Million 2 *Some data reported may be subject to change.

5 2018 ORANGE COUNTY MARKET VALUE $188.8B $188.8 BILLION 9.8% INCREASE OVER 2017 $147.3B $158.8B $171.9B $126.1B $115B TAX ROLL YEARTAX ROLL YEAR ORANGE COUNTY ORANGE MARKET COUNTY VALUEJUST MARKET VALUE $115 $113.9 B B $126.1 $110.9 B B$147.3 $110.9 B B$158.8 $115 B B $171.9 $126.1 B B $188.8 $147.7 B B $1 ORANGE COUNTY ORANGE TAXABLE COUNTY VALUE TAXABLE VALUE $84.1 $86.3 B B $90.2 $81.2 B B $100.9 $81.1 B B$109.4 $84.1 B B $119.6 $90.2 B B $131.4 $100.9 B B $1 NEW CONSTRUCTION NEW CONSTRUCTION $1.3 $1.9 B B $1.6 $1.2 B B $3.2 B$.75 B $3.4 B$1.3 B $3.1 $1.6 B B $4.3 $3.2 B B $2 NEW HOMES BUILT NEW HOMES BUILT 2,630 1,707 4,206 1,671 4,6751,755 4,6942,514 5,475 3,333 6,035 3,822 2, MEDIAN HOME MEDIAN PRICE AS HOME OF JANUARY PRICE AS 1OF JAN 1 $127,000 $102,000 $149,500 $94,900$155,000 $108,000 $148,300 $127,000$212,900 $149,500 $229,200 $155,000 $1 REAL ESTATE PARCELS REAL ESTATE PARCELS 431, , , ,631442, ,453446, , , , , , TANGIBLE PERSONAL TPP ACCOUNTS PROPERTY (TPP) ACCOUNTS 61,619 57,520 63,587 58,620 61,888 59,915 62,200 61,619 61,597 63,587 61,990 61, *As of July Some data reported may be subject to change. 3

6 COMMERCIAL MARKET VALUE $88.1 BILLION COMMERCIAL MARKET VALUE 10.4% INCREASE OVER 2017 DID YOU KNOW? With seven major theme parks and more resorts and hotels than any other U.S. city, we appraise the most diverse and complex range of property including some $88.1 billion in commercial property value - that s greater than the total tax roll of 58 of the state s 67 counties. 4 *Some data reported may be subject to change.

7 VALUE BY PROPERTY TYPE APARTMENTS $13.7 B HOTELS $12.3 B TIMESHARES $8.7 B RETAIL $9 B OFFICES $7.4 B INDUSTRIAL $8 B THEME PARKS $3.5 B AGRICULTURE $2.4 B *Some data reported may be subject to change. 5

8 TANGIBLE PERSONAL PROPERTY (TPP) NUMBER OF TPP ACCOUNTS 61,990 TPP TOTAL MARKET VALUE $14.8 BILLION 6.5% INCREASE OVER 2017 TPP TAXABLE VALUE BY CATEGORY Manufacturing - 6.9% Utilities % Rental Equipment - 5.9% Retail - 4.5% Other % Tangible personal property is everything other than real estate that is used in a business or rental property. Examples of tangible personal property are computers, furniture, tools, machinery, signs, equipment, leasehold improvements, supplies, and leased equipment. Theme Parks % 6 *Some data reported may be subject to change.

9 NEW CONSTRUCTION $4.3 BILLION IN NEW CONSTRUCTION 38.7% INCREASE OVER 2017 THAT TRANSLATES TO ALMOST $12 MILLION IN NEW CONSTRUCTION EVERY DAY *Some data reported may be subject to change. 7

10 RESIDENTIAL MARKET VALUE RESIDENTIAL MARKET VALUE $85.8 BILLION 9.7% INCREASE OVER 2017 $85.8B $72B $78.2B NUMBER OF ONSITE 51,057 FIELD VISITS $65B $66.4B 8 *Some data reported may be subject to change.

11 NEW HOMES BUILT 6,035 RESIDENTIAL HOMES BUILT 19.4% INCREASE OVER ,251 NUMBER OF RESIDENTIAL PARCELS *Some data reported may be subject to change. 9

12 TIMELINE I-DRIVE 360 CITRUS BOWL REOPENING ORANGE COUNTY MARKET VALUE $126.1 BILLION CABANA BAY BEACH RESORT - UNIVERSAL ORLANDO DR PHILLIPS PERFORMING ARTS CENTER ORANGE COUNTY MARKET VALUE $147.3 BILLION ORANGE COUNTY MARKET VALUE $158.8 BILLION SKULL ISLAND: REIGN OF KONG - UNIVERSAL STUDIOS FLORIDA HOSPITAL EXPANSION - ROLLINS STREET ORLANDO VINELAND PREMIUM OUTLET EXPANSION DIAGON ALLEY - UNIVERSAL STUDIOS FLORIDA MALL RENOVATION MAKO COASTER - SEAWORLD COURTYARD AND RESIDENCE INN BY MARRIOTT - LAKE NONA FOUR SEASONS RESORT 7 DWARFS MINE TRAIN - WALT DISNEY WORLD MAGIC KINGDOM ORLANDO VA MEDICAL CENTER AT LAKE NONA DISNEY SPRINGS USTA NATIONAL CAMPUS AT LAKE NONA 10

13 PANDORA - THE WORLD OF AVATAR - DISNEY S ANIMAL KINGDOM INFINITY FALLS - SEA WORLD OPENING 2018 ORANGE COUNTY MARKET VALUE $172.6 BILLION ORANGE COUNTY MARKET VALUE $188.8 BILLION KPMG CORPORATE TRAINING CENTER - LAKE NONA OPENING 2019 CREATIVE VILLAGE - DOWNTOWN ORLANDO OPENING 2019 CHURCH STREET PLAZA DOWNTOWN ORLANDO OPENING ORLANDO CITY SOCCER STADIUM TOY STORY LAND - DISNEY S HOLLYWOOD STUDIOS OPENED 2018 SKYLINER GONDOLAS - WALT DISNEY WORLD OPENING 2019 LOEWS SAPPHIRE FALLS RESORT - UNIVERSAL STUDIOS VOLCANO BAY WATER PARK - UNIVERSAL STUDIOS - STAR WARS LAND - DISNEY S HOLLYWOOD STUDIOS OPENING 2019 ENDLESS SUMMER RESORT UNIVERSAL OPENING 2019 *Some data reported may be subject to change. 11

14 APPRAISAL EXCELLENCE OUR APPRAISERS ARE EXPERIENCED, CERTIFIED PROFESSIONALS THAT ARE RANKED AMONG THE TOP IN THEIR PROFESSION. MORE THAN Earning designations through the International Association of Assessing Officers (IAAO) is a gratifying and rewarding experience. During the process, members gain knowledge and experience that is valuable to their careers and professional development. EXPERIENCE Rick Singh, CFA Orange County Property Appraiser DESIGNATIONS HELD BY OCPA APPRAISAL TEAM FAIRNESS AND ACCURACY Highest state rankings of equity among our peers. 48 Certified Florida Evaluator (CFE) 20+ Licensed Appraiser 5 Residential Evaluation Specialist (RES) 4 Member of the Appraisal Institute (MAI) 4 Certified Cadastralist of Florida (CCF) Awarded by the Florida Department of Revenue in recognition of competence in mass appraisal and assessment. State-certified licensed real estate appraisers regulated by the Florida Department of Business and Professional Regulations. Awarded by the International Association of Assessing Officers to recognize professionalism and competency in the valuation of residential property for tax purposes. Awarded by the Appraisal Institute recognizing professionalism and competency in appraising commercial and residential real property. Awarded by the Florida Department of Revenue to recognize experience and course work in reading and interpreting legal descriptions, advanced mathematics and geometry, and the construction of property base maps. 12 *Some data reported may be subject to change.

15 SUCCESSFULLY DEFENDED 99.9% of our valuations at the Value Adjustment Board appeal hearings, saving taxpayers millions of dollars. Ranked #1 in the state. Source: Florida Department of Revenue Data 3 AND MORE Certified Assessment Evaluator (CAE) Awarded by the International Association of Assessing Officers to recognize professionalism and competency in matters covering property valuation for tax purposes, property tax administration, and property tax policy. Senior Residential Appraiser (SRA) Certified Commercial Investment Member (CCIM) IAAO Senior Appraisal Instructor DID YOU KNOW? RICK SINGH AND OCPA LEADERSHIP TEAM SIGNING THE 2018 TAX ROLL Since 2012, the Orange County tax roll has increased by 70% - the largest increase in the State of Florida among our peers. *Some data reported may be subject to change. 13

16 ACCOUNTABILITY ANSWERABLE TO TAXPAYERS OF ORANGE COUNTY THROUGH GREATER COMPETENCE, RESPONSIBILITY, TRANSPARENCY AND TRUSTWORTHINESS. Under Rick Singh s leadership, we have returned almost $5 MILLION in excess budget funds to Orange County over the last five years. Source: Annual County Audit 224,013 AVERAGE ANNUAL MILES DRIVEN BY OCPA PRIUS VEHICLE FLEET Our environmentally friendly HYBRID VEHICLE LEASE PROGRAM saves taxpayers $1.2 million over 10 years and improves employee and homeowner safety. Source: Independent audit DID YOU KNOW? The Orange County Property Appraiser s Office offers an incentive to employees who opt to use alternative modes of transportation to commute to work. This benefit contributes to a greener environment while being costeffective for the employee. 14 *Some data reported may be subject to change.

17 VALUE RETURNED TO THE TAX ROLL BASED UPON COMPLIANCE INVESTIGATIONS $188.6 MILLION $171.9 MILLION $110.7 MILLION $138.3 MILLION 2018 $945.5 MILLION TO DATE $152.8 MILLION $183.2 MILLION We ranked 1 ST IN FLORIDA in assessed property value per employee and per budgeted dollar among our peers Source: Florida Department of Revenue Data EXEMPTION FRAUD HOTLINE (407) When we all pay our fair share, we all pay less. Rick Singh,CFA Orange County Property Appraiser *Some data reported may be subject to change. 15

18 CUSTOMER SERVICE OUR CUSTOMER SERVICE DEPARTMENT IS PASSIONATE ABOUT DELIVERING A SUPERIOR CUSTOMER EXPERIENCE % CUSTOMER SERVICE RATING Our staff speaks more than 10 languages, including English, Spanish, French, Chinese, Russian, Portuguese, Hindi, Sign Language and many more. DID YOU KNOW? AVERAGE WAIT TIME 36 SECONDS ON THE PHONE 60,000 calls per year MINUTES IN OUR 1 1 / 2 LOBBY 16,000 visitors per year In 2018, OCPA recieved almost 23,500 applications for new exemptions - 76% of those exemption applications were filed on-line. VIDEO TESTIMONIAL AND SURVEY IN OCPA LOBBY Invites visitors to comment on our customer service 16 *Some data reported may be subject to change.

19 I just wanted to say I m very pleased with the documentation provided after purchasing my first home. I received the letter you all sent, logged in and completed my application within a few minutes. - Lakia, 2/27/2018 In my experience, the Property Appraiser s office under Rick Singh has been a model of how a government entity should be run Thank you for your prompt and detailed response; it s everything I needed to make an informed decision. - Mike, 3/23/2018 Thanks so much for all your help, your service has been excellent (matter of fact in my personal experience it has been WAY above the ordinary = extraordinary) and highly appreciated by both my wife and myself. - Manuel, 4/11/2018 Our seasonal satellite offices around the county deliver a multitude of services to your neighborhood by trained professionals. ocpafl.org available in 50 languages QUESTIONS? CONTACT CUSTOMER SERVICE (407) CustomerService@ocpafl.org 17

20 SOCIAL MEDIA AND COMMUNICATIONS OCPA PROMOTES A STRONG PRESS AND SOCIAL MEDIA PRESENCE IN THE COMMUNITY TO INSTANTLY SHARE NEWS AND EVENT INFORMATION. LIKE, SHARE, FOLLOW, RETWEET OCPA ON SOCIAL MEDIA Connect with us for the latest information, important dates and upcoming events. SOCIAL MEDIA POSTS Follow us on social media for the latest happenings and information from OCPA. OCPAFL.ORG 18

21 performing and how attractive a destination RICK SINGH REPORT Our monthly newsletter keeps taxpayers informed about what s going on in our offices, important dates, the latest news, and upcoming events. OCPA IN THE NEWS PRINT WEB PRESS RELEASES TV RADIO Orange County Property Appraiser practices a culture of openness and transparency, cultivating relationships with print, radio, web and television media outlets to promote greater awareness and information sharing with Orange County residents and business owners regarding property value news, exemptions, and more. Orlando is for those with copious amounts of disposable income. 19

22 COMMUNITY ENGAGEMENT ORANGE COUNTY PROPERTY APPRAISER OUTREACH EVENTS TAKE IMPORTANT INFORMATION, EDUCATION & SERVICES TO TAXPAYERS AND BRING COMMUNITY LEADERS TOGETHER. Orange County Property Appraiser Rick Singh hosts regular Signature Events around the county with topics that are as diverse as the county itself. Annually, he hosts the State of Orange County Real Estate to report on the County s growth in development and in market value. In addition, Mr. Singh hosts more targeted versions, highlighting a specific neighborhood or area. Since 2013, many State of Signature Events which are free and open to the public have taken place throughout the region. Photos, video, and presentations from past events can be found on our website, in the Past Events section. State of Orange County Real Estate 2014, 2015, 2016, 2017, and 2018 State of West Orange County Real Estate 2015 State of International Drive 2015 State of Downtown Orlando 2016 State of Lake Nona Real Estate 2018 DID YOU KNOW? 20 Since January 2013, we ve attended over 1,000 community events, reaching out beyond our office walls to serve our citizens.

23 IN ORDER TO SERVE A COMMUNITY, YOU HAVE TO KNOW A COMMUNITY. Rick Singh, CFA Orange County Property Appraiser To honor the life and legacy of the reverend Dr. Martin Luther King, Jr., Rick Singh and his staff annually participate in local parades and events. OCPA participated in the Coalition for the Homeless of Central Florida annual drive by donating school supplies for children. The OCPA team, led by Rick Singh, participated in the 2018 Dragon Parade and Lunar New Year Festival to celebrate diversity, unity and harmony. Property Appraiser Rick Singh greets guests at the Business After Hours event showcasing the Orange County Chambers of Commerce. Rick Singh and his team spent the 4th of July representing OCPA and meeting neighbors at Lake Eola Park while waiting for the fireworks! Rick Singh greets constituents and their families in Downtown Orlando. Staff members of OCPA fanned out across Downtown Orlando on Earth Day and distributed hundreds of tree seedlings to grateful citizens.

24 ocpafl.org available in 50 languages 200 S. Orange Ave. Suite 1700 Orlando, FL Office Hours: 8:00 a.m. to 5:00 p.m. Monday - Friday Customer Service - (407) Real Property - (407) Tangible Personal Property - (407) Exemptions - (407) I.T. & G.I.S. - (407) Questions about events or presentations - Events@ocpafl.org For assistance with our website - HelpDesk@ocpafl.org For customer service - CustomerService@ocpafl.org Media Inquiries - Media@ocpafl.org