CLAY COUNTY PROPERTY APPRAISER ROGER A. SUGGS, CFA, AAS, CCF

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1 CLAY COUNTY PROPERTY APPRAISER ROGER A. SUGGS, CFA, AAS, CCF It is the commitment of this office to execute the duties and responsibilities of the Office of Property Appraiser in a fair and equitable manner, to provide accurate information and courteous, professional assistance to all those who request, or display a need for that assistance, without exception Annual Report

2 OFFICE OF THE CLAY COUNTY PROPERTY APPRAISER Honorable Roger A. Suggs, CFA, AAS, CCF State-Certified General Real Estate Appraiser RZ2771 Dear Taxpayer: The following publication represents the fifth Annual Report prepared by the Clay County Property Appraiser s Office. The purpose of the Annual Report is to provide summarized data maintained within our computer-aided-mass-appraisal (CAMA) database that may be interesting, if not helpful, to the reader. One of the hallmarks of a fair property tax system is its transparency and public access to information. Even though property tax laws are a product of the Florida Legislature, their transparency and effect on the local population are in large part a responsibility of the County Property Appraiser s Office. To that end, in addition to maintaining a very informative and user friendly website (ccpao.com), a need was felt to provide annually summarized data that may not be available in other places. Because Clay County is growing and evolving every year and areas of interest change over time, there may be other information that you would like to see or find beneficial to this publication. Your feedback is always welcomed and appreciated, so please feel free to contact our office with any suggestions you may have to enhance the effectiveness of this report. Respectfully, Roger A. Suggs, CFA, AAS, CCF Clay County Property Appraiser State-Certified General Real Estate Appraiser RZ2771 Main Office County Administration Building 477 Houston Street, 2 nd Floor Green Cove Springs FL Telephone: (904) 269/ Fax: (904) Certificate of Excellence in Assessment Administration, IAAO Orange Park Office Park Central Plaza 1518 Park Avenue Orange Park, FL Telephone: (904)

3 Table of Contents General Information 1 History / Profile 2 Employee Spotlight 3 Employee Accomplishments 4 Location, Population, and Government 5 Duties of the Property Appraiser / Fast Facts 6 Important Dates / Contact Information 7 Employee Credentials Value (Continued) 23 Real Property Parcels 24 Single Family Residential Median Sale Price / Land Records 25 Mobile Homes 26 Real Property Parcel and Value Allocation 27 Permit Activity 28 Tangible Personal Property and Centrally Assessed Constitutional and Statutory Updates 8 Amendments 3, 4, 5 9 Chapter Laws of Florida Chapter LOF 10 Chapter LOF Chapter LOF Exemptions 11 Ad Valorem Tax Exemptions, Classifications and Reductions 12 Homestead Exemption 13 Homestead Portability / Deployed Military Discount 14 Tangible Personal Property Exemption and Institutional Exemptions 15 Agricultural Classifications 16 Value of Exemptions and Reductions 17 Impact of Constitutional Changes Value 18 Estimating Value 19 Market Value 20 Assessed Value / Save Our Homes (SOH) 21 Assessment Growth Limitation (AGL) 22 Taxable Value / Top Ten Taxpayers Taxing Authorities 29 Taxing District Boundaries 30 Taxing Authorities 31 Millage Rates 32 BCC and MSTU County Commissioners (001) Green Cove Springs (002) Keystone Heights (003) Orange Park (004) Penney Farms (005) Lake Asbury MSBD (006) School Board St. Johns River Water Management On the cover: First Coast Expressway (July 2, 2016)

4 History / Profile The First Coast Expressway is a new multi-lane limited access toll facility that will eventually connect Interstate 95 (I-95) in northern St. Johns County to Interstate 10 (I-10) in western Duval County. The northern section from SR 21 (Blanding Blvd) in Clay County to I- 10 in Duval County is currently under construction with a completion of summer 2017, weather permitting. Construction started in July 2015 on the First Coast Expressway extension project from I-10 to Beaver Street (U.S. 90) with an expected completion of spring The southern section from I-95 in St. Johns County to Blanding Blvd in Clay County is currently in the preliminary design phase. The project includes a new bridge over the St. Johns River. The First Coast Expressway will provide a connecting roadway, outside of the existing I-295 loop, between I-95 in St Johns County and I-10 in Duval County. A total of 13 new interchanges and a major bridge structure across the St. Johns River are also proposed. The total length of the proposed roadway is approximately 46.5 miles. (Source: October 10, 2014 March 1, 2016 November 4,

5 Employee Spotlight Steven A. Garrard, Director of Administrative Services On October 31, 2016, Steve Garrard, Director of Administrative Services, officially retired after 34 years of faithful service to the Clay County Property Appraiser s Office (CCPAO). Originally hired by Property Appraiser, Lawrence Mickey Murray in November of 1982, Steve started his career in what was once known as the Field Department. During his long career with the CCPAO, Steve worked in almost every area of the office before settling into his final position as the Director of Administrative Services in As the Director of Administrative Services, Steve s primary responsibility was to direct the collection of information for the annual assessment roll for certification to the Department of Revenue. He was also responsible for the supervision of one of the largest departments in the office. Throughout his many years of hard work, Steve acquired vast amounts of knowledge and was always happy to share that knowledge or to lend a helping hand to anyone who needed it. Steve s knowledge and friendly smile will be greatly missed around the halls of the Clay County Property Appraiser s Office. We know that his schedule is already full with travel, hunting and spending time with his children and grandchildren. Thank you Steve for your many years of faithful service to the Clay County Property Appraiser s Office. You will be missed! 2

6 Employee Accomplishments Mr. Suggs hosts an annual employee luncheon and recognizes the accomplishments of the office and acknowledges individuals who earned professional designations and/or certifications, those appointed to serve on professional association committees and/or executive boards, and those who earned promotions and/or celebrated employment anniversaries. A good meal and a great time was had by all those in attendance. Congratulations to all those who were honored! Certifications / Designations Tracy S. Drake: Accredited Senior Appraiser (ASA), American Society of Appraisers Kelley Brown: Certified Florida Evaluator (CFE), Florida Department of Revenue Matt Kite: Certified Florida Evaluator (CFE), Florida Department of Revenue Kris Obergfoll: Certified Florida Evaluator (CFE), Florida Department of Revenue Awards Tracy S. Drake: Member of the Year, International Association of Assessing Officers (IAAO) Appointments Shaun Jackson: Real Property Steering Committee, Florida Chapter of IAAO (FCIAAO) Renee Large: Exemptions Steering Committee, Florida Chapter of IAAO (FCIAAO) Tracy S. Drake: Chair, IAAO Professional Designation Subcommittee; Vice-President, FCIAAO Executive Board Promotions Shannon Nolan: Promoted from Supervisor of GIS to Supervisor of GIS and Information Services Kris Obergfoll: Promoted from Residential Appraiser I to Commercial Appraiser I Anniversaries Charles Webb: 25 Years Linda Norman: 20 Years Judith Titus: 20 Years Scott Mears: 15 Years Kenny Dodgen: 10 Years Myrna Irish: 10 Years 3

7 Location, Population, and Government Clay County encompasses approximately 644 square miles and includes the incorporated municipalities of the City of Green Cove Springs, Town of Penney Farms, City of Keystone Heights, and Town of Orange Park. It is situated in northeast Florida, southwest of the city of Jacksonville and west of historic St. Augustine. The county s entire eastern border is formed by the St. Johns River. Approximately 202 square miles, or 31.40% of the total land size is comprised of government owned property (excluding public rightof-ways and river/waterway bottoms). Body of Government Acres State 123,104 County 3,049 Municipal 1,609 School 1,626 Federal 11 According to the latest census data, there are 203,967 people and 78,179 households in the county. The homeownership rate was estimated at 75% and the median household income was estimated at $58,290. It is projected that Clay County s population will experience a 93% increase between 2000 and 2030, while Florida s population as a whole is projected to increase by only 50%. The Board of County Commissioners is the 5 member, law-making body of the county, operating under the Home Rule charter since Some specific government functions are performed by the separately elected Constitutional Officers; Clerk of the Courts, Property Appraiser, Sheriff, Supervisor of Elections and Tax Collector. These two groups comprise the county elected officials who are responsible to the voters of Clay County. Swearing-in by Judge Collins on January 3,

8 Duties of the Property Appraiser The Clay County Property Appraiser, an elected Constitutional Officer, is responsible for producing an annual assessment roll, which is a record of each property in the county. The intended purpose of the assessment roll is to provide a basis for ad valorem ( according to value ) taxation of property pursuant to the Florida constitution, statutes, administrative rules, and regulatory agencies. The Property Appraiser is responsible for identifying, locating, and fairly valuing all property, both real and personal. Additionally, the Property Appraiser tracks changes of ownership, records up to date descriptions of buildings and property characteristics, administers exemptions, assessment reductions, classifications and other forms of property tax relief, and utilizes a geographic information (GIS) system to provide up to date property ownership maps. A progressive computer assisted mass appraisal (CAMA) system is relied upon to ensure consistency and equity. The Property Appraiser does not determine the tax rates; that is the responsibility of the various taxing authorities. Furthermore, the Property Appraiser does not collect property taxes; property tax payments are made to the Clay County Tax Collector. Fast Facts Property Appraiser: Roger A. Suggs, CFA, AAS, CCF State-Certified General Real Estate Appraiser RZ2771 First Elected: January 6, 2009 Number of Employees: 32 Number of Real Estate Parcels: 90,422 Number of Tangible Personal Property & Centrally Assessed Accounts: 6, Annual Budget: $2,719,608 Total Just Value: $15,115,103,337 Total Assessed Value: $13,350,738,773 Total Exempt Value: $4,057,677,342 Total Taxable Value: $9,293,061,431 5

9 Important Dates January 1 February 1 March 1 April 1 June 1 July 1 Mid-August October 1 November 1 December 31 The date which determines property ownership, value, exemptions and classifications. Automatic exemption and classification renewal notices mailed. Tangible personal property returns mailed to business owners. Filing deadline for portability, exemptions, classifications, and assessment reductions, to include: homestead, senior exemption, widow/widower, deployed military, disability, charitable, fraternal, educational, literary, scientific, religious, agricultural and conservation. Filing deadline for tangible personal property returns. Property Appraiser must submit a budget to the Department of Revenue (DOR) for approval. Property Appraiser must deliver an estimate of the total taxable value for the current year to each taxing authority. Property Appraiser must notify property owners of intent to deny applications for exemptions, classifications, and portability. Property Appraiser must complete the assessment of all property and submit roll to the DOR for approval and must certify the total taxable value for the current year to each taxing authority. Notice of proposed property taxes, also called Truth in Millage (TRIM) notices, are mailed to property owners. TRIM notices contain the Property Appraiser s proposed estimates of value as of January 1, and exemptions, classifications, or assessment reductions on the property. The notices also contain the taxing authorities proposed millage (tax) rates, budget hearing locations and times, and the deadline for filing petitions with the Value Adjustment Board (VAB). New fiscal year begins. Current tax bills are mailed by the Clay County Tax Collector. Annual mobile home decals must be purchased from the Department of Motor Vehicles (Clay County Tax Collector s office). Contact Information Main Office Administration Building, 2 nd Floor 477 Houston Street Green Cove Springs, FL Phone: Fax: Branch Office Park Central Plaza (inside Tax Collector s Office) 1518 Park Avenue Orange Park, FL Phone: Fax: Information is also available online at and Administrative Services Agricultural Classifications: Exemptions: Land Records: Appraisal Services Commercial Property: Residential Property: Tangible Personal Property: Information Services Assessment Roll: GIS Mapping: Public Records: Website:

10 Employee Credentials International Association of Assessing Officers Designations CAE (Certified Assessment Evaluator) AAS (Assessment Administration Specialist) RES (Residential Evaluation Specialist) Florida Department of Business and Professional Regulations Licenses State-Certified General Real Estate Appraiser Florida Department of Revenue Certifications CFA (Certified Florida Appraiser) CFE (Certified Florida Evaluator) CCF (Certified Cadastralist of Florida) American Society of Appraisers Designations ASA (Accredited Senior Appraiser) Internal Revenue Service EA (Enrolled Agent) Roger A. Suggs, CFA, AAS, CCF State-Certified General Real Estate Appraiser RZ2771 Tracy S. Drake, CAE, ASA, RES, AAS, CFE State-Certified General Real Estate Appraiser RZ2759 Renee Large, EA Shaun Jackson, AAS, CFE Thomas Marcy, AAS, CFE David Barrie, CFE, CCF Shannon Nolan, CCF Wayne Bullard, CCF Charles Webb, CFE Jeffery Brunick, CFE Mathew Kite, CFE Wanda Cantrell, CFE Kenneth Dodgen, CFE Audrey Dornbusch, CFE Julianne Looney, CFE Scott Mears, CFE Michael Padgett, CFE, CCF Curtis Sewell, CFE Judith Titus, CFE Pete Gomes, CCF, CFE Kristopher Obergfoll, CFE Kelley Brown, CFE 7

11 Constitutional and Statutory Updates Clay County Property Appraiser

12 Constitutional and Statutory Updates In 2016 there were five (5) proposed constitutional amendments that appeared on the statewide ballots for electors to consider. Included in the 5 proposed amendments were three (3) that related to property tax exemptions. All 3 property tax proposed amendments were approved by the voters, requiring 60 percent of the vote, and are listed below: Amendment 3 Tax Exemption for Totally and Permanently Disabled First Responders (Appeared on November 8, 2016 ballot) Amends the State Constitution to authorize a first responder, who is totally and permanently disabled as a result of injuries sustained in the line of duty, to receive relief from ad valorem taxes assessed on homestead property, if authorized by general law. The effective date of this amendment is January 1, Amendment 4 Solar Devices or Renewable Energy Source Devices; Exemption from Certain Taxation and Assessment (Appeared on August 30, 2016 ballot) Amends the State Constitution to authorize the Legislature, by general law, to exempt from ad valorem taxation the assessed value of solar or renewable energy source devices subject to tangible personal property tax, and to authorize the Legislature, by general law, to prohibit consideration of such devices in assessing the value of real property for ad valorem taxation purposes. The effective date of this amendment is January 1, 2018, and expires on December 31, Amendment 5 Homestead Tax Exemption for Certain Senior, Low-Income, Long-term Residents; Determination of Just Value (Appeared on November 8, 2016 ballot) Amends the State Constitution to revise the homestead tax exemption that may be granted by counties or municipalities for property with just value less than $250,000 owned by certain senior, low-income, long-term residents to specify that just value is determined in the first tax year the owner applies and is eligible for the exemption. The effective date of the amendment is January 1, 2017, and applies retroactively to exemptions granted before January 1,

13 Constitutional and Statutory Updates The following are brief summaries of property tax legislation that were considered and passed during the 2016 Legislative Session. Although there were many property tax bills filed, only a few bills eventually passed during the regular session. Chapter Laws of Florida (LOF) relating to Ad Valorem Tax Exemption for Deployed Servicemembers This bill amends , Fla. Stat., to update the list of designated military operations for which deployed servicemembers may qualify, extend the March 1 application deadline for qualifying deployments during 2014 and 2015 to June 1, 2016, and provide refund procedures for qualifying deployments during 2014 and The 17 qualifying operations and their effective dates are as follows: a) Operation Joint Task Force Bravo (1995) b) Operation Joint Guardian (06/12/1999) c) Operation Noble Eagle (09/15/2001) d) Operation Enduring Freedom (10/7/2001) e) Operations in the Balkans (2004) f) Operation Nomad Shadow (2007) g) Operation U. S. Airstrikes Al Qaeda in Somalia (01/2007) h) Operation Copper Dune (2009) i) Operation Georgia Deployment Program (08/2009) j) Operation New Dawn (09/01/ /15/2011) k) Operation Odyssey Dawn (03/19/ /31/2011) l) Operation Spartan Shield (06/2011) m) Operation Observant Compass (10/2011) n) Operation Inherent Resolve (08/2014) o) Operation Atlantic Resolve (04/2014) Effective date: March 8, 2016 Chapter LOF relating to Special Assessments on Agricultural Lands This bill amends and , Fla. Stat., to prohibit counties and municipalities from levying or collecting special assessments for fire protection services on land classified as agricultural pursuant to , Fla. Stat., unless the land "contains a residential dwelling or nonresidential farm building, with the exception of an agricultural pole barn, provided the nonresidential farm building exceeds a just value of $10,000." The special assessments must be "based solely on the special benefit accruing to that portion of the residential dwelling and curtilage, and qualifying nonresidential farm buildings." The bill defines an "agricultural pole barn" as a nonresidential farm building in which 70 percent or more of the perimeter walls are permanently open and allow free ingress and egress. The special assessment may not be levied against agricultural pole barns regardless of the value. Effective date: November 1,

14 Constitutional and Statutory Updates Chapter LOF relating to Conservation Easements This bill amends (6)(b), Fla. Stat., to provide that, once an original application for exemption for property subject to a perpetual conservation easement has been granted, the property owner is not required to file a renewal application until the use of the property no longer complies with the restrictions and requirements of the conservation easement. Effective date: July 1, Chapter LOF relating to Mobile Homes This bill amends various provisions in Ch. 723, Fla. Stat., relating to mobile homes. Among the provisions is an amendment to , Fla. Stat., to authorize a mobile home park owner to pass non-ad valorem assessments on to tenants as a part of the lot rental. Effective date: July 1,

15 Exemptions Clay County Property Appraiser

16 Ad Valorem Tax Exemptions, Classifications and Assessment Reductions The Florida Constitution provides for a number of property exemptions, classifications and assessment reductions, which will reduce the taxable value of a property. The property owner must qualify for the exemption as of January 1 of the current tax year. The statutory deadline for filing a timely application is March 1. Some exemptions and classifications are automatically renewed and some require an annual application or income submission. Homestead Exemption up to $50,000 Veterans Service Connected Total and Permanent Disability Exemption $5,000 Exemption for Disabled Ex-Servicemember or Surviving Spouse Exemption for Disabled Veterans Confined to Wheelchairs Homestead Property Tax Discount for Veterans Age 65 and Older With a Combat Related Disability Charitable, Religious, Scientific, or Literary Exemption Homestead Ad Valorem Tax Credit for Deployed Military Personnel Agricultural Classification Additional Homestead for Persons 65 and Older With at Least 25 years of Residency Available to Orange Park and Green Cove Springs Residents (annual application and income verification) Additional Homestead Exemption up to $50,000 for Persons 65 and Older (annual application and income verification required) Totally and Permanently Disabled Persons Exemption (annual income verification required) $500 Exemption for Widows, Widowers, Blind Persons, and Totally and Permanently Disabled Persons Reduction in Assessment for Living Quarters of Parents or Grandparents Educational Property Exemption Real Property Dedicated in Perpetuity for Conservation Exemption Exemption for Surviving Spouse of Military Veteran who Died from Service-Connected Causes While on Active Duty or First Responder who Died in the Line of Duty For more information, please contact our offices or website at 11

17 Homestead Exemption The most common real property exemption is the homestead exemption. Florida residents who have legal or equitable title to property, have the intention of making the property their permanent residence as of January 1, and make application, are eligible for homestead exemption. Year Number of Exemptions % Change , % , % , % , % , % , % , % Under the Florida Constitution, qualified residents may receive a homestead exemption that reduces the taxable value of their property by as much as $50,000. The first $25,000 exemption applies to all property taxes, including school district taxes. The additional exemption of up to $25,000 applies to the assessed value between $50,000 and $75,000, and only to non-school taxes. 12

18 Homestead Portability The Homestead Portability feature was provided in Constitutional Amendment 1 in If your home has a homestead exemption, and has accumulated a Save Our Homes cap, you may be eligible to transfer the savings to the next home you purchase in the state of Florida, subject to certain requirements. Taxing Authority # Parcels Total Value BCC (001) 744 $13,772,992 Green Cove Springs (002) 46 $1,034,613 Keystone Heights (003) 1 $5,671 Orange Park (004) 26 $461,167 Penney Farms (005) 0 $0 Lake Asbury (006) 9 $161,720 School Board 744 $13,772,992 SJRWMD 744 $13,772,992 Deployed Military Homestead Discount We salute our military service members! Constitutional Amendment 1 was approved by Florida voters in November 2010, with implementation for the 2011 assessment roll. Pursuant to s Florida Statutes, a member or former member of any branch of the United States military or military reserves, the United States Coast Guard or its reserves, or the Florida National Guard may receive an exemption if he or she: 1) receives a homestead exemption, 2) was deployed during the previous calendar year outside the continental United States, Alaska, and Hawaii in support of a designated operation (each year the Florida Legislature designates operations for this exemption), and 3) submits an application (form DR-501M) by March 1st. A copy of the service member s deployment order, listing deployment dates, must accompany the application. The percentage of taxable value that is exempt for the current year is determined by the percent of time during the previous year when the service member was deployed on a designated operation. Exempt Value Taxing Authority BCC (001) $9,837,521 $6,067,194 $3,277,742 $4,945,997 $4,642,882 GCS (002) $40,956 $63,773 $0 $139,628 $19,588 Keystone Heights (003) $34,884 $0 $0 $0 $0 Orange Park (004) $117,228 $13,429 $0 $82,059 $0 Penney Farms (005) $0 $0 $0 $0 $0 Lake Asbury (006) $54,405 $0 $0 $0 $0 School Board $12,702,173 $7,573,723 $3,926,309 $5,987,769 $5,481,837 SJRWMD $9,837,521 $6,067,194 $3,277,742 $4,945,997 $4,642,882 13

19 Tangible Personal Property Exemption Taxpayers who file returns in a timely manner are exempt on the first $25,000 of the market value of their tangible personal property (TPP). A business with less than $25,000 must file an initial return which serves as its application for the exemption. The following year a waiver letter will be mailed to taxpayers with values less than $25,000. Those who receive waivers will not have to file returns unless they have added property that may cause the value of the TPP to exceed $25,000. A change of ownership or a change of the location of a business are events that also trigger the filing requirement. Exempt Value Taxing Authority BCC (001) $50,610,664 $49,243,564 $48,438,946 $47,260,193 $48,609,603 $48,997,760 GCS (002) $3,348,162 $3,179,300 $3,044,146 $2,969,845 $2,944,094 $2,840,187 Keystone Heights (003) $879,050 $849,795 $798,317 $756,175 $762,097 $771,547 Orange Park (004) $6,950,218 $6,796,852 $6,266,636 $6,041,149 $6,193,345 $5,979,150 Penney Farms (005) $19,327 $18,387 $42,636 $42,818 $42,237 $41,210 Lake Asbury (006) $0 $103 $590 $141 $119 $94 School Board $50,610,664 $49,243,564 $48,438,946 $47,260,193 $48,609,603 $48,997,760 SJRWMD $50,610,664 $49,243,564 $48,438,946 $47,260,193 $48,609,603 $48,997,760 Institutional Exemptions Under Florida law, some real property and/or tangible personal property that is owned by a nonprofit entity may be eligible for an exemption from certain ad valorem taxes if the property is also used for a nonprofit purpose as of January 1. Some examples of institutional exemptions include: religious, charitable, scientific, literary, educational, fraternal, and homes for the aged. Taxing Real Property TPP Total Authority Exempt Value Exempt Value Exempt Value BCC (001) $350,760,586 $46,381,702 $397,142,288 Green Cove Springs (002) $10,964,056 $324,461 $11,288,517 Keystone Heights (003) $7,763,683 $204,694 $7,968,377 Orange Park (004) $61,432,533 $5,966,326 $67,398,859 Penney Farms (005) $11,987,509 $1,426,818 $13,414,327 Lake Asbury (006) $0 $0 $0 School Board $355,027,456 $46,381,702 $401,409,158 SJRWMD $350,760,586 $46,381,702 $397,142,288 14

20 Agricultural Classifications An agricultural classification may be applied to different types of agricultural property such as timber, pasture, groves, nurseries, etc. The agricultural classification is available only to the portion of the property that is being used primarily for bona fide agricultural purposes. The term bona fide agricultural purposes means good faith commercial agricultural use of the land, pursuant to s (3)(b), F.S. It is the responsibility of the property owner to establish and prove an agricultural operation. The agricultural classification is a benefit to property owners that results in a classified use value based upon the probable income from normal agricultural use which is often substantially less than market value, thus making it economically feasible to continue such usage. Applications that have been granted will automatically renew each January; however, the classification is not transferrable. New applications must be filed due to changes of ownership/title, and change of acreage or use. Asmt. Year Parcel Count Market Value Taxable Value % of Market Value ,474 $565,892,860 $88,230, % ,491 $549,267,253 $80,655, % ,491 $549,975,442 $79,305, % ,499 $580,463,899 $75,195, % ,471 $599,663,817 $71,977, % ,473 $643,119,152 $76,147, % ,413 $676,383,532 $68,838, % 15

21 Value of Exemptions and Reductions 2016 Clay County Exempt Value # of Real Property # of TPP Statutory Real Property Exempt TPP Exempt Exemption Type Authority Exemptions Value Exemptions Value $25,000 Homestead Exempt. (HX) (a) 50,649 $1,248,474,589 0 $0 Additional $25,000 HX (b) 44,776 $1,042,340,204 0 $0 Add HX 65+ (Seniors) ,933 $66,568,952 0 $0 Totally & Permanently Disabled Veterans $96,358,741 0 $0 Totally Perm. Disabled & Blind $4,868,665 0 $0 Tangible Property $25,000 Exempt $0 5,252 $47,507,486 Charitable, Religious, Scientific, Literary $303,849, $43,491,691 Charitable Homes For the Aged $14,543,773 0 $0 Affordable Housing Property $4,405,838 1 $64,059 Educational Property $19,981, $2,825,952 Charter School $7,980,389 0 $0 Government Property ,012 $734,208, $385,286,601 Blind Exemption $27,000 0 $0 Total & Permanent Disability Exempt ,447 $703,599 0 $0 Widows/Widowers Exemption ,660 $1,802,180 0 $0 Disabled Ex-Service Member Exempt ,937 $20,075,655 0 $0 Land Conservation Exemption (100%) (2) 20 $1,896,793 0 $0 Land Conservation Exemption (50%) (3) 11 $696,567 0 $0 Deployed Service Members HX $4,642,882 0 $0 Add. HX Age 65+ & 25 year residency $0 0 $0 Total Exempt Value: $3,573,425,400 $479,175,789 16

22 Impact on 2016 Assessment Roll of Constitutional Changes (Amendment 1, Approved January 29, 2008) Taxing Authorities Additional $25K Homestead Exemption (1)(b), F.S. $25K Tangible Personal Property Exemption , F.S. Homestead Portability (8), F.S. 10% Assessment Growth Limitation , F.S , F.S. Total Exempt Value BCC-Other County Services $1,042,340,204 $48,997,760 $13,772,992 $125,940,565 $1,231,051,521 Fire Control MSTU-8 $1,000,326,488 $43,018,610 $13,311,825 $123,899,036 $1,180,555,959 Law Enforcement MSTU-4 $967,467,969 $40,178,423 $12,277,212 $122,443,093 $1,142,396,697 Unincorporated Services MSTU $960,477,359 $39,365,666 $12,271,541 $122,371,550 $1,134,486,116 School Board N/A $48,997,760 $13,772,992 N/A $62,770,752 SJRWMD $1,042,340,206 $48,997,760 $13,772,992 $125,940,565 $1,231,051,523 City of Green Cove Springs $32,767,067 $2,840,187 $1,034,613 $1,455,943 $38,097,810 City of Keystone Heights $6,519,316 $771,547 $5,671 $44,110 $7,340,644 Town of Orange Park $41,427,681 $5,979,150 $461,167 $2,041,529 $49,909,527 Town of Penney Farms $471,294 $41,210 $0 $27,433 $539,937 Lake Asbury MSBD $8,325,001 $94 $161,720 $68,183 $8,554,998 * The values represented above indicate the accumulated and resulting loss of taxable value to each of the Taxing Authorities. 17

23 Value Clay County Property Appraiser

24 Estimating Value Florida law charges the Property Appraiser with the task of valuing all property that is not immune from taxation, or otherwise expressly exempt from valuation. The assessment roll of Clay County is comprised of approximately 96,155 real property parcels and tangible personal property accounts which must be reviewed annually. To ensure that all properties are assessed accurately, equitably, and efficiently, mass appraisal techniques are utilized as the primary method of valuation. The process of mass appraisal is supported by s (3), F.S., which states, In revaluating property in accordance with constitutional and statutory requirements, the Property Appraiser may adjust the assessed value placed on any parcel or group of parcels based on mass data collected, on ratio studies prepared by an agency authorized by law, or pursuant to regulations of the Department of Revenue. Section (1), F.S., states, the value of property must be determined by an appraisal methodology that complies with the criteria of s , F.S., and professionally accepted appraisal practices. As such, the Clay County Property Appraiser s Office considers three recognized and generally accepted approaches in the development of value estimates: the cost approach, sales comparison approach, and the income capitalization approach. The applicability of each approach depends on the character of the property and the availability of market data. 18

25 Market (Just) Value Market (just) value is commonly defined as the most probable price for a property in a competitive, open market involving a willing buyer and a seller, and is the major focus of ad valorem appraisal assignments. Pursuant to Article VII of the state Constitution and s , F.S., all property shall be assessed according to its market (just) value, on January 1 of each year. Additionally, s , F.S., prescribes the factors that the Property Appraiser must consider in the estimation of market value. The market value assessment is unencumbered and may increase or decrease as the market dictates. Clay County s real property market value increased over 74% from 2004 to Due to the national recession, the market value decreased over 24% from 2007 to Since 2012 the market value has increased more than 21%. History of Market Value $18,000,000,000 $17,000,000,000 $16,000,000,000 $15,000,000,000 $16,451,399,457 $16,233,772,317 $15,215,668,757 $15,115,103,337 $14,000,000,000 $13,000,000,000 $13,982,192,284 $13,693,185,177 $12,893,632,359 $13,364,440,324 $13,903,565,121 $12,000,000,000 $12,414,868,581 $12,635,269,569 $11,000,000,000 $10,000,000,000 $10,992,134,485 $9,000,000,000 $9,408,558,131 $8,000,000,

26 Assessed Value The assessed value is the value of property after any assessment reductions, agricultural classifications, limitations, or caps have been applied. Furthermore, the assessed value is an administrative assessment created by the Legislature and is not directly related to market value. Homestead and non-homestead properties may have an assessed value that is lower than market value due to the Save Our Homes cap, or the 10 percent Assessment Growth Limitation cap. The following chart illustrates the relationship between the market value and assessed value for a hypothetical residential property for a number of years: SOHD / AGL Save Our Homes Differential (SOHD) The Florida Constitution was amended in 1992 to provide a limitation in annual increases to assessed value on residential property receiving a homestead exemption. The assessment limitation is known as Save Our Homes and limits the annual increase in assessed value to 3% (excluding any additions or improvements), or the amount of the Consumer Price Index (CPI) increase as determined by the Department of Revenue, whichever is less. The table below displays Clay County s Save Our Homes cap and taxes saved since 2010, based on the total unincorporated area millage rate. Asmt. Year SOH Cap Amount SOH Differential Increase/Decrease Over Previous Year % Change From Previous Year Millage Rate Est. Taxes Saved % $1,190,735,702 $356,976, % $18,041, % $833,759,343 $235,691, % $12,956, % $598,068,099 $242,706, % $9,353, % $355,361,821 $62,779, % $5,515, % $292,581,938 ($142,613,143) % $4,682, % $435,195,081 ($296,940,138) % $7,032, % $732,135,219 ($650,508,784) % $11,517,951 Total: $68,891,400 20

27 Assessment Growth Limitation Differential (AGL) There is a 10% cap on the assessed value for non-homesteaded residential and non-residential properties beginning with the 2009 assessment roll. The Legislature adopted several statutes to implement the 10% differential on non-homestead properties, explaining the conditions requiring the reassessment and resetting of the cap to market value, and the required notification process when a change of ownership or control of more than 50% occurs. The Assessment Growth Limitation cap does not apply to school taxes. The table below displays the 2016 differentials or capped values and associated taxes saved within the various taxing authorities. Taxing Non-Homestead Non-Residential Total Millage Est. Taxes Authority Residential Diff. 1 Differential 2 Differential Rate Saved BCC (001) $54,307,066 $71,633,499 $125,940, $1,020,244 GCS (002) $902,821 $553,122 $1,455, $5,241 Keystone Heights (003) $11,149 $32,961 $44, $163 Orange Park (004) $1,447,540 $593,989 $2,041, $12,620 Penney Farms (005) $0 $0 $ $0 Lake Asbury (006) $0 $0 $ $0 School Board n/a n/a n/a n/a n/a SJRWMD $54,307,066 $71,633,499 $125,940, $36,334 1 Section , F.S., applies to non-homestead residential property with no more than nine (9) dwelling units and to vacant property zoned for residential uses. The 10% cap is removed when a change of ownership or control of more than 50% occurs. 2 Section , F.S., applies to all residential properties with ten (10) units or more and all non-residential properties. It provides for the reassessment of the property and resetting of the 10% when a qualifying improvement increases the market value of the property by at least 25%. The ownership and control provisions are the same. 21

28 Taxable Value The taxable value equals the assessed value minus exemptions. Like the assessed value, it is not directly related to market value. The taxable value is half of the formula used to determine ad valorem property taxes; the other half is the millage rates levied by taxing authorities (taxable value x millage rate = tax levied). Hypothetical Calculation of Taxable Value Land Value $45,300 Improvement Value + $118,900 Just (Market) Value = $164,200 Save Our Homes Differential -$38,650 Assessed Value = $125,550 Homestead Exemption -$50,000 Taxable Value = $75,550 Top Ten Taxpayers Clay County, Florida Name Real Property TPP Total Taxable Value % of Total Taxable Value Clay Electric Co-op Inc. $10,562,568 $167,371,810 $177,934, % Orange Park Mall LLC $95,822,108 $0 $95,822, % Orange Park Medical Center $42,525,713 $26,312,534 $68,838, % Teco Pipeline Holding Co, LLC $0 $44,402,178 $44,402, % Wal-Mart Stores East LP $35,392,672 $8,242,947 $43,635, % Mid-America Apartments L P $41,000,000 $752,025 $41,752, % AT&T Florida $0 $36,986,501 $36,986, % American Homes 4 Rent $31,618,695 $0 $31,618, % Florida Power & Light Company $1,715,624 $22,366,977 $24,082, % Guidewell Group Inc. $0 $23,967,573 $23,967, % Totals: $258,637,380 $330,402,545 $589,039, % 22

29 Real Property Parcels Property can be identified by two broad categories: real property and tangible personal property. Real property is the rights, interests, and benefits connected with real estate. Real estate is the physical parcel of land, improvements to the land, improvements attached to the land, and appurtenances. Tangible personal property will be discussed later in this section. The Appraisal Services Department is responsible for the inspections and annual valuation estimates of real property, which is comprised of residential, commercial, industrial, institutional and agricultural parcels. Additionally, the department is required to physically inspect each parcel once every five years, pursuant to s , F.S. This helps to ensure that the assessment roll data is accurate and up to date. Real Property Parcel Count Year # Parcels % Change , % , % , % , % , % , % , % Real Property Parcels by Taxing Authority Taxing Authority # Parcels BCC (001) 90,422 Green Cove Springs (002) 3,772 Keystone Heights (003) 811 Orange Park (004) 3,393 Penney Farms (005) 191 Lake Asbury (006) 431 Keystone Heights CRA (007) 128 Challenger Center (008) 2 School Board 90,422 SJRWMD 90,422 23

30 Single Family Residential Median Sale Price It is easy to see that Clay County s real estate market has seen its ups and downs. From 2000 through 2006, the median sale price of single family residences increased approximately 93.5%, peaking at $232,800. As of the 4 th quarter of 2011, the median sale price had declined approximately 31.3% from the peak. Since the market began its recovery, the median sale price has increased approximately 19.1%. $240,000 $230,000 $220,000 $232,800 $220,000 $210,000 $200,000 $190,000 $180,000 $196,900 $199,900 $175,000 $189,500 $190,500 $180,600 $170,000 $160,000 $150,000 $140,000 $130,000 $120,000 $110,000 $120,300 $168,000 $147,000 $136,900 $128,535 $165,000 $160,000 $176,000 $169, Land Records The Land Records Department is responsible for discovering and updating real estate parcel ownership changes through research of various recorded documents processed by the Clay County Clerk of Court. From calendar years 2002 through 2006, the volume of real estate transactions increased approximately 85%. From the end of 2006 through 2009, the number of transactions declined approximately 62%. Since 2013, the volume of transactions has remained steady. Year # Transactions % Change , % , % , % , % , % , % , % 24

31 Mobile Homes A mobile home may be classified as either real property or as tangible personal property. If the mobile home owner owns the land where the mobile home is located, it is considered real property and the resident owner may be eligible for a homestead exemption. If the land is rented then the mobile home is considered a motor vehicle and the attachments to the mobile home (carports, screen porch, etc.) are classified as tangible personal property. Annual mobile home decals should be purchased by December 31 st from the Department of Motor Vehicles (Clay County Tax Collector). History of Mobile Homes % of County % of County Asmt. Real Property Market Real Property Taxable Real Property Year Parcels Value Market Value Value Taxable Value ,481 $520,134, % $275,242, % ,485 $473,439, % $261,723, % ,511 $465,548, % $255,287, % ,529 $468,099, % $256,301, % ,569 $485,572, % $260,840, % ,627 $525,190, % $278,934, % ,380 $567,240, % $288,309, % 25

32 2016 Real Property Parcel and Value Allocation As indicated by the information below, Clay County s parcel count and value is primarily based on residential property types. Property Parcel Market % of Total Taxable % of Total Type Count Value Market Value Value Taxable Value Vacant Residential 11,451 $296,243, % $276,048, % Non-Agricultural Acreage 334 $50,977, % $45,790, % Single Family Residential 58,021 $9,281,019, % $5,885,599, % Condominiums 2,385 $180,344, % $130,387, % Retirement Homes & Misc. Residential 2,129 $10,905, % $10,693, % Mobile Homes 9,481 $520,134, % $275,242, % Multifamily (less than 10 units) 330 $45,150, % $39,997, % Multifamily (more than 10 units) 43 $280,583, % $278,317, % Vacant Commercial 577 $99,904, % $98,287, % Improved Commercial 1,739 $1,165,563, % $1,130,222, % Vacant Industrial 14 $4,797, % $4,792, % Improved Industrial 209 $191,126, % $189,888, % Agricultural/Conservation 1,474 $565,892, % $88,230, % Institutional 460 $399,315, % $110,529, % Government 870 $800,450, % $979, % Miscellaneous 905 $27,775, % $16,623, % Totals: 90,422 $13,920,186,841 $8,581,632,263 Taxable Value by Property Type Improved Residential 73.43% Miscellaneous 0.19% Governmental 0.01% Institutional 1.29% Commercial & Industrial 16.59% Multifamily 3.71% Agricultural Vacant 1.03% Residential 3.22% 26

33 Permit Activity According to the Clay County Building Department, permit activity for new single family homes and mobile homes peaked in calendar year At the conclusion of 2011, permit activity had declined approximately 86% from the peak. The net taxable value of new construction for Clay County peaked in assessment year 2006 at $650.4 million and subsequently declined to $69.8 million in Since 2012, the new construction value has steadily increased, adding $170.5 million (taxable value) in % Year Jan Feb Mar Apr May June July Aug Sep Oct Nov Dec Total Change , % % % % % % % Source: Clay County Building Department 27

34 Tangible Personal Property and Centrally Assessed Personal property is classified as either tangible or intangible. Tangible personal property can be touched, it has intrinsic value. Taxable tangible personal property includes equipment in commercial use that is not expressly exempt. Intangible personal property has value based on what the property represents. Stocks, bonds, mutual funds, and accounts receivable are all intangible personal property. Intangible personal property is not reported to the county property appraiser. Centrally assessed is all railroad operating property subject to assessment according to s (4)(a), F.S., and rolling stock of private car and freight line and equipment companies subject to assessment under s (4)(b), F.S. Ad valorem taxes from the assessment of tangible personal property are levied by local taxing authorities. Tangible personal property and central assessments rely on a self-reporting system. Taxpayers who are required to file must do so by April 1 of each year, listing the reportable property that was in place on January 1, which is the assessment date. History of TPP & Centrally Assessed Asmt. # of % of Market % of Taxable % of Year Accounts Change Value Change Value Chang , % $1,194,916, % $711,429, % , % $1,065,728, % $693,144, % , % $1,077,351, % $698,700, % , % $1,040,256, % $690,497, % , % $1,023,542, % $685,389, % , % $1,086,145, % $686,611, % , % $987,482, % $670,935, % 28

35 Taxing Authorities Clay County Property Appraiser

36 Taxing District Boundaries Green Cove Springs Orange Park Keystone Heights Penney Farms Lake Asbury 29

37 Taxing Authorities On an annual basis, each taxing authority establishes a millage rate by dividing the proposed budget by the taxable value less the value of new construction. The millage rate is then multiplied by the taxable value of each property located within the taxing district. The revenues generated are used to support the local services provided by each of the taxing authorities. Each year the newly proposed millage rates are published on the Truth in Millage (TRIM) notice sent to property owners during the month of August. It is important to review the TRIM notice since it provides details about the proposed millage rates, the new appraised values, and exemption information. The TRIM notice provides the date, time and place of the taxing authority s budget hearing as well as contact information. Tax Authority Code Description Full Description 001 BCC-Other County Services Board of County Commissioners - Other County Services 001 Fire Control MSTU-8 Fire Control Municipal Service Taxing Unit Law Enforcement MSTU-4 Law Enforcement Municipal Service Taxing Unit Unincorp Services MSTU Unincorporated Services Municipal Service Taxing Unit 002 Green Cove Springs City of Green Cove Springs 003 Keystone Heights City of Keystone Heights 004 Orange Park Town of Orange Park 005 Penney Farms Town of Penney Farms 006 Lake Asbury (Water) Lake Asbury Municipal Service Benefit District 007 Keystone Heights CRA Keystone Heights Community Redevelopment Area 008 Challenger Center Challenger Center Municipal Service Taxing Unit School RLE School Local Board SJRWMD School Required Local Effort School Discretionary and Capital Outlay St Johns River Water Management District 30

38 Millage Rates One mill equals $1 per $1,000 (.001). For example, a tax rate of mills is % of taxable value. (Calculation: is multiplied by the taxable value of the property to determine the ad valorem tax) The millage (tax) rate history for each taxing authority is listed below. Taxing Authority County Services BCC-Law Enforcement BCC-EMS Fire Control MSTU Law Enforcement MSTU Unicorp Services MSTU Total Combined School Board SJRWMD Total Unincorporated Area (001) Green Cove Springs Total (002) Orange Park Total (004) Keystone Heights Total (003) (007) Lake Asbury MSBD Total (006) Challenger Center MSTU Total (008) Penney Farms Total (005)

39 Breakdown of BCC and MSTU Taxing Authorities Not all of the taxing authorities take advantage of the county services offered. Some of the cities and towns have their own fire department, law enforcement and special services. Since this information was not consistent across the board, it was necessary to develop the spreadsheet below. Hopefully, this will help to explain the necessity of the different millage rates and the application of each. Taxing Authority Services Provided Where Excludes Taxing Authority Codes Included BCC BCC - Law Enforcement * County-wide 001, 002, 003, 004, 005, 006 BCC BCC - EMS * County-wide 001, 002, 003, 004, 005, 006 BCC County Services County-wide 001, 002, 003, 004, 005, 006 MSTU Fire Control MSTU-8 Non-Countywide OP 001, 002, 003, 005, 006 MSTU Law Enforcement MSTU-4 Non-Countywide GCS, OP 001, 003, 005, 006 MSTU Challenger Center MSTU Non-Countywide GCS, OP, PF, KH 008 MSTU Unincorporated Services MSTU Unincorporated GCS, OP, PF, KH 001, 006 * Combined with county services for 2013 assessment year. 32

40 Market Value The market value of properties located within taxing district 001 increased 74.86% from 2004 to Due to the economic recession, the market value decreased 24.54% from 2007 to Since 2012, the market value has steadily increased, adding 8.04% in C o u n t y C o m m i s s i o n e r s Asmt. Real TPP & Market Value % of New % of Year Property Central Assd. Total Change Construction Change 2016 $13,920,186,841 $1,194,916,496 $15,115,103, % $194,518, % 2015 $12,924,567,024 $1,065,728,170 $13,990,295, % $192,382, % 2014 $12,287,088,567 $1,077,351,757 $13,364,440, % $235,870, % 2013 $11,595,012,605 $1,040,256,964 $12,635,269, % $105,133, % 2012 $11,391,325,899 $1,023,542,682 $12,414,868, % $86,191, % 2011 $11,807,486,646 $1,086,145,713 $12,893,632, % $86,934, % 2010 $12,705,702,221 $987,482,956 $13,693,185, % $120,636, % Exempt Value The Florida Constitution provides for a number of property exemptions and assessment reductions which will reduce a property s taxable value Exempt Value Type Real Property TPP Centrally Assessed Total $25,000 Homestead (HX) $1,248,474,589 $0 $0 $1,248,474,589 Add. $25,000 HX $1,042,340,204 $0 $0 $1,042,340,204 Add HX 65+ (Seniors) $66,568,952 $0 $0 $66,568,952 TPP $25,000 $0 $47,507,486 $1,490,274 $48,997,760 Governmental $734,208,987 $385,286,601 $0 $1,119,495,588 Institutional $350,760,586 $46,381,702 $0 $397,142,288 Widows/Widowers $1,802,180 $0 $0 $1,802,180 Disability/Blind $122,033,660 $0 $0 $122,033,660 Conservation $2,593,360 $0 $0 $2,593,360 Historic $0 $0 $0 $0 Economic Development $0 $0 $0 $0 Lands Available For Taxes $175,267 $0 $0 $175,267 Parents/Grandparents $566,462 $0 $0 $566,462 Disabled Veterans Disc. $2,844,150 $0 $0 $2,844,150 Deployed Military Disc. $4,642,882 $0 $0 $4,642,882 HX Age 65+ & 25 yr. res. $0 $0 $0 $0 Total Exempt Value $3,577,011,279 $479,175,789 $1,490,274 $4,057,677,342 33

41 Taxable Value The taxable value of taxing district 001 decreased 26.11% from 2007 to The 2016 taxable value represents 61.48% of the market value and has increased 17.25% since Additionally, the taxable value of new construction continues to remain steady. TPP & Taxable % of Asmt. Year Real Property Central Assd. Value Total % of Change Market Value New Construction % of Change 2016 $8,851,632,263 $711,429,168 $9,293,061, % 61.48% $170,504, % 2015 $8,113,184,672 $693,144,625 $8,806,329, % 62.95% $170,762, % 2014 $7,752,815,167 $698,700,827 $8,451,515, % 63.24% $138,372, % 2013 $7,403,379,301 $690,497,405 $8,093,876, % 64.06% $92,827, % 2012 $7,240,427,174 $685,389,768 $7,925,816, % 63.84% $69,803, % 2011 $7,433,115,009 $686,661,929 $8,119,776, % 62.98% $72,798, % 2010 $7,927,912,963 $670,935,720 $8,598,848, % 62.80% $106,780, % C o u n t y The chart below illustrates the allocation of taxes levied for a property located within taxing district 001 (total millage rate of ). BCC - Unincorp. Svcs..73% Where Does My 2016 Tax Dollar Go? Schools - Local Board 14.84% Schools - State Law 29.79% BCC Law Enforcement 14.85% SJRWMD 1.90% BCC County Services 34.55% BCC - Fire Control 3.33% C o m m i s s i o n e r s 34

42 Market Value The market value of properties located within taxing district 002 increased 76.78% from 2004 to Due to the economic recession, the market value decreased 24.88% from 2008 to Since 2012 the market value has increased 18.5%. Additionally, the 2016 new construction value significantly increased from the prior year. G r e e n Asmt. Real TPP & Market Value % of New % of Year Property Central Assd. Total Change Construction Change 2016 $519,838,565 $40,689,324 $560,527, % $22,341, % 2015 $478,454,472 $38,070,138 $516,524, % $10,371, % 2014 $458,982,424 $43,099,172 $502,081, % $5,856, % 2013 $439,474,852 $45,347,299 $484,822, % $2,185, % 2012 $425,106,768 $47,811,866 $472,918, % $2,482, % 2011 $440,530,719 $47,348,437 $487,879, % $2,204, % 2010 $463,695,158 $46,242,145 $509,937, % $3,637, % C o v e S p r i n g s Exempt Value The Florida Constitution provides for a number of property exemptions and assessment reductions which will reduce a property s taxable value. Approximately 28% of the total exempt value is comprised of the Constitutional Homestead Exemption and over 37% is comprised of the Governmental Exemption Exempt Value Type Real Property TPP Centrally Assessed Total $25,000 Homestead (HX) $43,309,001 $0 $0 $43,309,001 Add. $25,000 HX $32,767,067 $0 $0 $32,767,067 Add HX 65+ (Seniors) $2,325,749 $0 $0 $2,325,749 TPP $25,000 $0 $2,773,162 $67,025 $2,840,187 Governmental $56,312,174 $250,000 $0 $56,562,174 Institutional $10,964,056 $324,461 $0 $11,288,517 Widows/Widowers $67,500 $0 $0 $67,500 Disability/Blind $4,452,390 $0 $0 $4,452,390 Conservation $0 $0 $0 $0 Historic $0 $0 $0 $0 Economic Development $0 $0 $0 $0 Lands Available For Taxes $0 $0 $0 $0 Parents/Grandparents $0 $0 $0 $0 Disabled Veterans Disc. $159,720 $0 $0 $159,720 Deployed Military $19,588 $0 $0 $19,588 HX Age 65+ & 25 yr. res. $352,796 $0 $0 $352,796 Total Exempt Value $150,730,041 $3,347,623 $67,025 $154,144,689 35

43 Taxable Value The taxable value of taxing district 002 decreased 25.75% from 2007 to The 2016 taxable value increased 7.45% and represents 65.82% of the market value. TPP & Taxable % of Asmt. Year Real Property Central Assd. Value Total % of Change Market Value New Construction % of Change 2016 $331,727,474 $37,228,238 $368,955, % 65.82% $19,799, % 2015 $308,898,761 $34,487,181 $343,385, % 66.48% $7,513, % 2014 $298,003,618 $39,440,651 $337,444, % 67.21% $5,519, % 2013 $284,643,348 $41,666,193 $326,309, % 67.30% $1,206, % 2012 $278,754,918 $43,998,114 $322,753, % 68.25% $2,140, % 2011 $286,004,221 $43,345,337 $329,349, % 67.51% $2,249, % 2010 $298,803,304 $42,304,602 $341,107, % 66.89% $3,289, % G r e e n The chart below illustrates the allocation of taxes levied for a property located within taxing district 002 (total millage rate of ). SJRWMD 1.76% Where Does My 2016 Tax Dollar Go? Schools Local Board 13.72% City of GCS 21.96% Schools State Law 27.54% BCC County Services 31.94% BCC Fire Control 3.08% C o v e S p r i n g s 36

44 Market Value The market value of properties located within taxing district 003 increased 58.39% from 2004 to Due to the economic recession, the market value decreased 22.52% from 2007 to Since 2012, the total market value has steadily increased, adding 3.00% in K e y s t o n e H e i g h t s Asmt. Real TPP & Central Market Value % of New % of Year Property Assd. Total Change Construction Change 2016 $89,064,180 $8,000,260 $97,064, % $64, % 2015 $86,253,343 $7,988,178 $94,241, % $67, % 2014 $84,492,356 $8,049,692 $92,542, % $307, % 2013 $78,721,185 $7,875,153 $86,596, % $433, % 2012 $78,535,604 $7,724,929 $86,260, % $96, % 2011 $81,438,317 $7,892,911 $89,331, % $277, % 2010 $89,486,982 $8,003,851 $97,490, % $50, % Exempt Value The Florida Constitution provides for a number of property exemptions and assessment reductions which will reduce a property s taxable value. Approximately 27% of the total exempt value is comprised of the Constitutional Homestead Exemption and approximately 50% is comprised of the Governmental and Institutional Exemptions Exempt Value Type Real Property TPP Centrally Assessed Total $25,000 Homestead (HX) $9,300,321 $0 $0 $9,300,321 Add. $25,000 HX $6,519,316 $0 $0 $6,519,316 Add HX 65+ (Seniors) $0 $0 $0 $0 TPP $25,000 $0 $771,547 $0 $771,547 Governmental $9,379,724 $46,008 $0 $9,425,732 Institutional $7,763,683 $204,694 $0 $7,968,377 Widows/Widowers $17,500 $0 $0 $17,500 Disability/Blind $606,082 $0 $0 $606,082 Conservation $0 $0 $0 $0 Historic $0 $0 $0 $0 Economic Development $0 $0 $0 $0 Lands Available For Taxes $0 $0 $0 $0 Parents/Grandparents $0 $0 $0 $0 Disabled Veterans Disc. $2,120 $0 $0 $2,120 Deployed Military $0 $0 $0 $0 HX Age 65+ & 25 yr. res. $0 $0 $0 $0 Total Exempt Value $33,588,746 $1,022,249 $0 $34,610,995 37

45 Taxable Value The taxable value of taxing district 003 decreased 24.46% from 2007 to The 2016 taxable value increased 3.27% and represents 58.56% of the market value. Asmt. Real TPP & Central Taxable Value % of % of Market New % of Year Property Assd. Total Change Value Construction Change 2016 $49,863,521 $6,978,011 $56,841, % 58.56% $62, % 2015 $48,135,980 $6,907,239 $55,043, % 58.41% $18, % 2014 $46,790,440 $6,962,640 $53,753, % 58.06% $224, % 2013 $44,714,207 $6,725,016 $51,439, % 59.40% $433, % 2012 $44,016,685 $6,528,030 $50,544, % 58.60% $49, % 2011 $45,340,556 $6,751,569 $52,092, % 58.31% $208, % 2010 $48,822,122 $6,795,298 $55,617, % 57.05% $44, % The chart below illustrates the allocation of taxes levied for a property located within taxing district 003 (total millage rate of ). K e y s t o n e Schools Local Board 12.00% Where Does My 2016 Tax Dollar Go? Schools State Law 24.09% SJRWMD 1.54% Town of K.H % BCC Law Enforcement 12.01% BCC County Services 27.93% BCC Fire Control 2.69% H e i g h t s 38

46 Market Value The market value of properties located within taxing district 004 increased 44.98% from 2004 to Due to the economic recession, the market value decreased 25.87% from 2007 to The total market value has increased 13.12% since 2012, including 5.64% in O r a n g e P a r k Asmt. Real TPP & Market Value % of New % of Year Property Central Assd. Total Change Construction Change 2016 $718,498,079 $71,951,085 $790,449, % $4,360, % 2015 $679,921,442 $68,323,444 $748,244, % $2,019, % 2014 $654,893,533 $67,446,958 $722,340, % $2,329, % 2013 $635,723,164 $65,387,825 $701,110, % $2,494, % 2012 $631,166,770 $67,594,696 $698,761, % $649, % 2011 $655,558,007 $71,374,440 $726,932, % $1,995, % 2010 $711,548,871 $70,531,729 $782,080, % $4,517, % Exempt Value The Florida Constitution provides for a number of property exemptions and assessment reductions which will reduce a property s taxable value. Approximately 20% of the total exempt value is comprised of the Constitutional Homestead Exemption and over 55% is comprised of the Governmental and Institutional Exemptions Exempt Value Type Real Property TPP Centrally Assessed Total $25,000 Homestead (HX) $46,491,087 $0 $0 $46,491,087 Add. $25,000 HX $41,427,681 $0 $0 $41,427,681 Add HX 65+ (Seniors) $2,807,468 $0 $0 $2,807,468 TPP $25,000 $0 $5,896,115 $83,035 $5,979,150 Governmental $39,202,861 $22,551,678 $0 $61,754,539 Institutional $61,432,533 $5,966,326 $0 $67,398,859 Widows/Widowers $106,000 $0 $0 $106,000 Disability/Blind $4,762,753 $0 $0 $4,762,753 Conservation $0 $0 $0 $0 Historic $0 $0 $0 $0 Economic Development $0 $0 $0 $0 Lands Available For Taxes $0 $0 $0 $0 Parents/Grandparents $0 $0 $0 $0 Disabled Veterans Disc. $253,487 $0 $0 $253,487 Deployed Military Disc. $0 $0 $0 $0 HX Age 65+ & 25 yr. res. $1,775,688 $0 $0 $1,775,688 Total Exempt Value $198,259,558 $34,414,119 $83,035 $232,756,712 39

47 Taxable Value The taxable value of taxing district 004 decreased 22.71% from 2007 to Since 2012, the total taxable value has steadily increased, with a 4.82% increase in Asmt. Real TPP & Central Taxable Value % of % of Market New % of Year Property Assd. Total Change Value Construction Change 2016 $469,365,383 $37,453,931 $506,819, % 64.12% $4,234, % 2015 $447,824,866 $35,685,375 $483,510, % 64.62% $1,390, % 2014 $438,107,219 $33,917,680 $472,024, % 65.35% $1,495, % 2013 $422,669,542 $33,414,667 $456,084, % 65.05% $790, % 2012 $418,671,813 $36,020,240 $454,692, % 65.07% $364, % 2011 $429,102,125 $39,616,099 $468,718, % 64.48% $491, % 2010 $459,222,228 $39,391,319 $498,613, % 63.75% $2,629, % The chart below illustrates the allocation of taxes levied for a property located within taxing district 004 (total millage rate of ). O r a n g e Where Does My 2016 Tax Dollar Go? Town of O.P % BCC County Services 28.35% P a r k SJRWMD 1.56% Schools Local Board 12.17% Schools State Law 24.44% 40

48 Market Value The market value of properties located within taxing district 005 increased 39.77% from 2004 to Due to the economic recession, the market value decreased 18.54% from 2007 to Since 2012, the market value has steadily increased. P e n n e y F a r m s Asmt. Real TPP & Market Value % of New % of Year Property Central Assd. Total Change Construction Change 2016 $28,248,460 $3,346,615 $31,595, % $650, % 2015 $25,852,328 $2,944,348 $28,796, % $643, % 2014 $25,091,527 $2,807,071 $27,898, % $33, % 2013 $24,199,331 $2,711,825 $26,911, % $160, % 2012 $24,166,581 $2,754,750 $26,921, % $278, % 2011 $24,615,521 $2,664,010 $27,279, % -$13, % 2010 $26,063,179 $2,597,138 $28,660, % $19, % Exempt Value The Florida Constitution provides for a number of property exemptions and assessment reductions which will reduce a property s taxable value. Approximately 6% of the total exempt value is comprised of the Constitutional Homestead Exemption and 89% is comprised of the Institutional Exemptions Exempt Value Type Real Property TPP Centrally Assessed Total $25,000 Homestead (HX) $890,262 $0 $0 $890,262 Add. $25,000 HX $471,294 $0 $0 $471,294 Add HX 65+ (Seniors) $0 $0 $0 $0 TPP $25,000 $0 $41,210 $0 $41,210 Governmental $272,158 $1,502 $0 $273,660 Institutional $11,987,509 $1,426,818 $0 $13,414,327 Widows/Widowers $2,500 $0 $0 $2,500 Disability/Blind $6,000 $0 $0 $6,000 Conservation $0 $0 $0 $0 Historic $0 $0 $0 $0 Economic Development $0 $0 $0 $0 Lands Available For Taxes $0 $0 $0 $0 Parents/Grandparents $0 $0 $0 $0 Disabled Veterans Disc. $0 $0 $0 $0 Deployed Military Disc. $0 $0 $0 $0 HX Age 65+ & 25 yr. res. $0 $0 $0 $0 Total Exempt Value $13,629,723 $1,469,530 $0 $15,099,253 41

49 Taxable Value The taxable value of taxing district 005 increased 72.89% from 2004 to Since 2011, the taxable value has increased 26.97%, with the 2016 taxable value representing 41.92% of the market value. Asmt. Real TPP & Taxable Value % of % of New % of Year Property Central Assd. Total Change Market Value Construction Change 2016 $11,367,235 $1,877,085 $13,244, % 41.92% $650, % 2015 $10,099,179 $1,733,996 $11,833, % 41.09% $432, % 2014 $9,601,128 $1,724,408 $11,325, % 40.60% $33, % 2013 $9,462,888 $1,708,320 $11,171, % 41.51% $136, % 2012 $9,070,341 $1,686,916 $10,757, % 39.96% $248, % 2011 $8,798,810 $1,632,627 $10,431, % 38.24% $10, % 2010 $9,139,051 $1,610,185 $10,749, % 37.51% $19, % The chart below illustrates the allocation of taxes levied for a property located within taxing district 005 (total millage rate of ). P e n n e y BCC Law Enforcement BCC Fire Control 3.36% Where Does My 2016 Tax Dollar Go? Schools State Law 30.01% BCC County Services 34.81% Schools Local Board 14.95% SJRWMD 1.92% F a r m s Town of P.F. 0% 42

50 Market Value The market value of properties located within taxing district 006 increased 90.30% from 2004 to Due to the economic recession, the market value decreased 36.88% from 2007 to Since 2012, the total market value has increased 15.95%. L a k e A s b u r y Asmt. Real TPP & Central Market Value % of New % of Year Property Assd. Total Change Construction Change 2016 $101,198,088 $94 $101,198, % $105, % 2015 $91,727,294 $119 $91,727, % $153, % 2014 $88,138,542 $141 $88,138, % $19, % 2013 $87,207,871 $590 $87,208, % $107, % 2012 $87,279,178 $103 $87,279, % $139, % 2011 $93,768,709 $0 $93,768, % $72, % 2010 $104,752,783 $0 $104,752, % $319, % Exempt Value The Florida Constitution provides for a number of property exemptions and assessment reductions which will reduce a property s taxable value. Approximately 44% of the total exempt value is comprised of the Constitutional Homestead Exemption Exempt Value Type Real Property TPP Centrally Assessed Total $25,000 Homestead (HX) $8,550,001 $0 $0 $8,550,001 Add. $25,000 HX $8,325,001 $0 $0 $8,325,001 Add HX 65+ (Seniors) $594,138 $0 $0 $594,138 TPP $25,000 $0 $94 $0 $94 Governmental $0 $0 $0 $0 Institutional $0 $0 $0 $0 Widows/Widowers $19,000 $0 $0 $19,000 Disability/Blind $1,570,554 $0 $0 $1,570,554 Conservation $0 $0 $0 $0 Historic $0 $0 $0 $0 Economic Development $0 $0 $0 $0 Lands Available For Taxes $0 $0 $0 $0 Parents/Grandparents $0 $0 $0 $0 Disabled Veterans Disc. $185,468 $0 $0 $185,468 Deployed Military Disc. $0 $0 $0 $0 HX Age 65+ & 25 yr. res. $0 $0 $0 $0 Total Exempt Value $19,244,162 $94 $0 $19,244,256 43

51 Taxable Value The taxable value of taxing district 006 decreased 18.46% from 2007 to Since 2012, the total market value has steadily increased. TPP & Taxable % of Asmt. Year Real Property Central Assd. Value Total % of Change Market Value New Construction % of Change 2016 $59,848,255 $0 $59,848, % 59.14% $105, % 2015 $57,723,891 $0 $57,723, % 62.93% $153, % 2014 $55,900,330 $0 $55,900, % 63.42% $19, % 2013 $54,390,183 $0 $54,390, % 62.37% $107, % 2012 $53,180,712 $0 $53,180, % 60.93% $134, % 2011 $54,142,381 $0 $54,142, % 57.74% $72, % 2010 $56,375,229 $0 $56,375, % 53.82% $319, % The chart below illustrates the allocation of taxes levied for a property located within taxing district 006 (total millage rate of ). BCC Law Enforcement 14.85% BCC Fire Control 3.33% Where Does My 2016 Tax Dollar Go? BCC Unicorp. Svcs..73% Schools State Law 29.79% BCC County Services 34.55% Schools Local Board 14.84% SJRWMD 1.90% Lake Asbury 0% L a k e A s b u r y 44

52 Market Value The market value of properties located within the school board s taxing district increased 74.86% from 2004 to Due to the economic recession, the market value decreased 24.54% from 2007 to The total market value has increased 19.63% over the past three years, including 8.04% in S c h o o l B o a r d Asmt. Real TPP & Market Value % of New % of Year Property Central Assd. Total Change Construction Change 2016 $13,920,186,841 $1,194,916,496 $15,115,103, % $194,518, % 2015 $12,924,567,024 $1,065,728,170 $13,990,295, % $192,382, % 2014 $12,287,088,567 $1,077,351,757 $13,364,440, % $235,870, % 2013 $11,595,012,605 $1,040,256,964 $12,635,269, % $105,133, % 2012 $11,391,325,899 $1,023,542,682 $12,414,868, % $86,191, % 2011 $11,807,486,646 $1,086,145,713 $12,893,632, % $86,394, % 2010 $12,705,702,221 $987,482,956 $13,693,185, % $120,636, % Exempt Value The Florida Constitution provides for a number of property exemptions and assessment reductions which will reduce a property s taxable value. Approximately 41% of the total exempt value is comprised of the Constitutional Homestead Exemption and over 39% is comprised of the Governmental Exemption Exempt Value Type Real Property TPP Centrally Assessed Total $25,000 Homestead (HX) $1,248,474,589 $0 $0 $1,248,474,589 Add. $25,000 HX $0 $0 $0 $0 Add HX 65+ (Seniors) $0 $0 $0 $0 TPP $25,000 $0 $47,507,486 $1,490,274 $48,997,760 Governmental $789,582,335 $385,286,601 $0 $1,174,868,936 Institutional $355,027,456 $46,381,702 $0 $401,409,158 Widows/Widowers $1,802,180 $0 $0 $1,802,180 Disability/Blind $122,033,821 $0 $0 $122,033,821 Conservation $2,593,360 $0 $0 $2,593,360 Historic $0 $0 $0 $0 Economic Development $0 $0 $0 $0 Lands Available For Taxes $180,332 $0 $0 $180,332 Parents/Grandparents $566,462 $0 $0 $566,462 Disabled Veterans Disc. $3,818,502 $0 $0 $3,818,502 Deployed Military Disc. $5,481,837 $0 $0 $5,481,837 HX Age 65+ & 25 yr. res. $0 $0 $0 $0 Total Exempt Value $2,529,560,874 $479,175,789 $1,490,274 $3,010,226,937 45

53 Taxable Value The taxable value decreased 18.15% from 2008 to The 2016 taxable value increased 5.40% and represents 69.24% of the market value. TPP & Taxable % of Asmt. Year Real Property Central Assd. Value Total % of Change Market Value New Construction % of Change 2016 $9,755,023,233 $711,429,168 $10,466,452, % 69.24% $181,229, % 2015 $9,237,304,703 $693,144,625 $9,930,449, % 70.98% $180,067, % 2014 $8,862,997,810 $698,700,827 $9,561,698, % 71.55% $147,976, % 2013 $8,490,694,543 $690,497,405 $9,181,191, % 72.66% $99,007, % 2012 $8,327,626,162 $685,389,768 $9,013,015, % 72.60% $75,757, % 2011 $8,535,200,559 $687,007,396 $9,222,207, % 71.53% $80,012, % 2010 $9,055,985,164 $670,935,720 $9,726,920, % 71.03% $114,883, % S c h o o l B o a r d 46

54 Market Value The market value of properties located within the SJRWMD increased 74.86% from 2004 to Due to the economic recession, the market value decreased 24.54% from 2007 to The total market value has increased 19.63% over the past three years, including 8.04% in Asmt. Real TPP & Market Value % of New % of Year Property Central Assd. Total Change Construction Change 2016 $13,920,186,841 $1,194,916,496 $15,115,103, % $194,518, % 2015 $12,924,567,024 $1,065,728,170 $13,990,295, % $192,382, % 2014 $12,287,088,567 $1,077,351,757 $13,364,440, % $235,870, % 2013 $11,595,012,605 $1,040,256,964 $12,635,269, % $105,133, % 2012 $11,391,325,899 $1,023,542,682 $12,414,868, % $86,191, % 2011 $11,807,486,646 $1,086,145,713 $12,893,632, % $86,394, % 2010 $12,705,702,221 $987,482,956 $13,693,185, % $120,636, % S J R W M D Exempt Value The Florida Constitution provides for a number of property exemptions and assessment reductions which will reduce a property s taxable value. Approximately 57% of the total exempt value is comprised of the Constitutional Homestead Exemption Exempt Value Type Real Property TPP Centrally Assessed Total $25,000 Homestead (HX) $1,248,474,589 $0 $0 $1,248,474,589 Add. $25,000 HX $1,042,340,206 $0 $0 $1,042,340,206 Add HX 65+ (Seniors) $0 $0 $0 $0 TPP $25,000 $0 $47,507,486 $1,490,274 $48,997,760 Governmental $734,208,987 $385,286,601 $0 $1,119,495,588 Institutional $350,760,586 $46,381,702 $0 $397,142,288 Widows/Widowers $1,802,180 $0 $0 $1,802,180 Disability/Blind $122,033,660 $0 $0 $122,033,660 Conservation $2,593,360 $0 $0 $2,593,360 Historic $0 $0 $0 $0 Economic Development $0 $0 $0 $0 Lands Available For Taxes $175,267 $0 $0 $175,267 Parents/Grandparents $566,462 $0 $0 $566,462 Disabled Veterans Disc. $2,960,368 $0 $0 $2,960,368 Deployed Military Disc. $4,642,882 $0 $0 $4,642,882 HX Age 65+ & 25 yr. res. $0 $0 $0 $0 Total Exempt Value $3,510,558,547 $479,175,789 $1,490,274 $3,991,224,610 47

55 Taxable Value The taxable value of the SJRWMD decreased 25.96% from 2007 to The 2016 taxable value increased 5.52% and represents 61.92% of the market value. TPP & Taxable % of Asmt. Year Real Property Central Assd. Value Total % of Change Market Value New Construction % of Change 2016 $8,648,084,995 $711,429,168 $9,359,514, % 61.92% $170,902, % 2015 $8,176,716,093 $693,144,625 $8,869,860, % 63.40% $171,434, % 2014 $7,813,915,890 $698,700,827 $8,512,616, % 63.70% $138,775, % 2013 $7,461,310,560 $690,497,405 $8,151,807, % 64.52% $92,946, % 2012 $7,295,718,134 $685,389,768 $7,981,107, % 64.29% $70,089, % 2011 $7,485,955,040 $686,661,929 $8,172,616, % 63.38% $72,933, % 2010 $7,979,393,253 $670,935,720 $8,650,328, % 63.17% $107,058, % S J R W M D 48

56 This report is available on the Clay County Property Appraiser s website: Office of the Property Appraiser Administration Bldg, 2 nd Floor 477 Houston Street Green Cove Springs, FL (904)