ANNUAL REPORT 2011 Tax Roll. Duval County Office of the Property Appraiser

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1 1 ANNUAL REPORT 2011 Tax Roll Duval County Office of the Property Appraiser

2 OUR VISION To earn the public s trust. OUR MISSION We will produce a fair, equitable and accurate tax roll as required by law. We will focus on our customers - the taxpayers. We will support the continuous personal and professional development of our employees. OUR VALUES We strive to be fair and accurate in everything we do. We are proactive and responsive public servants. We respect our customers and each other. We are accountable for our individual actions and our collective work. We remain flexible, willing to do the work that is needed, when it is needed and show personal initiative. We share our best ideas, data and analyses, and gladly accept those of others when better than our own. We think about and demonstrate ethical behavior always. CONTENTS About the Property Appraiser s Office 1 The Value of Property 2 Millage Rates 4 Taxes: Where Your Money Goes 5 Real Estate 6 Exemptions 10 Save Our Homes 10 Recapture Rule 11 Residential Property 12 Commercial Property 14 Tangible Personal Property 16 Largest Combined Value Assessments 18 Parcel Counts and Values 19 Important Dates 20 2

3 ABOUT THE PROPERTY APPRAISER S OFFICE The Property Appraiser is charged under Florida law with annually appraising all real and tangible property in the county for the purpose of taxation. All property must be assessed, as outlined in the Florida Constitution, at just value (market value). Property must be physically inspected by the Property Appraiser s Office at least once every five years. The Property Appraiser s Office also administers property value exemptions and reductions as required by state law and maintains the official property database for the county. Duval County Snapshot Total Area in Square Miles 918 Duval County Population 872,382 Jacksonville MSA Population 1,368,691 (Baker, Clay, Duval, Nassau and St. Johns) Divisions: Commercial Appraisal Customer Service/Exemptions Field Operations Land Records Residential Appraisal Tangible Personal Property Administration Employees: 122 full-time; 1 part-time 2011/2012 Budget: $8,831, Average Unemployment Rate 9.2% (Jacksonville MSA) Median Household Income $51,851 Median Age 35.2 Sources: Decision Data Resources 2011, Florida Agency for Workforce Innovation Standing: Mark Miles, Chief of Tangible Personal Property Division; Jim Ogburn, Chief of Field Operations Division; Kay Ehas, Chief Administrative Officer; Harry Guetherman, Chief of Commercial Appraisal Division; Keith Hall, Chief of Residential Appraisal Division; Jim Lima, Chief of Land Records Division; Keith Hicks, Chief Appraiser; Seated: Jim Overton, Property Appraiser; Dana Clark, Chief of Customer Service/Exemptions Division 1

4 THE VALUE OF PROPERTY In 2011, the value of real property in Florida declined for a fourth consecutive year. Overall Department of Revenue data shows a decline in market value of about $821 billion since Duval County numbers were consistent with the state trend. The market value of real property in Duval decreased $17.7 billion over the past three years. Foreclosure numbers remained high while traditional sales were low. The declining market significantly impacted the final Tax Roll for The taxable value* of all property in Duval County dropped $10.8 billion since *refers to taxable value applied to City of Jacksonville Operating Millage. Trillions Total Market Value of Real Property in Florida The market value of real property in Florida has declined $821 billion since Source: Florida Department of Revenue The overall market value of real property in Duval County dropped $17.7 billion over the past three years. Total Market Value of Property in Duval County, Florida ROLL YEAR REAL PROPERTY TANGIBLE PROPERTY CENTRALLY ASSESSED* TOTAL MARKET VALUE 2011 $69,701,644,708 $12,378,011,033 $158,707,004 $82,238,362, ,111,884,819 12,439,237, ,277,638 88,693,399, ,960,136,759 12,241,327, ,380,633 95,400,845, ,363,797,070 11,721,689, ,755,408 99,287,242, ,997,280,652 8,457,086, ,738,152 92,633,105, ,096,836,631 8,052,180, ,318,235 78,317,335, ,428,124,115 8,084,847, ,553,947 68,661,525, ,188,556,283 8,280,225, ,378,261 61,676,160, ,561,408,229 8,293,001, ,098,768 57,041,508, ,869,820,831 8,700,724, ,970,634 52,707,515,561 Source: Certified Tax Rolls *railroad property assessed by the Florida Department of Revenue 2

5 THE VALUE OF PROPERTY The Duval County Tax Roll dropped for the 4th consecutive year in The roll was down 7.18% from the previous year. The Duval County Property Appraiser s Office develops a Tax Roll annually. Using mass appraisal techniques which utilize comparable sales and market trends, a fair market value is determined for each property as of January 1. Fair market value (also called just value) is the probable sale price in a competitive and open market what a willing purchaser would likely pay a willing seller excluding the costs of the sale. In certain cases, assessment limitations are applicable creating a separate assessed value, then exemptions reduce the value further to create the taxable value. There are several taxable values, since some exemptions do not apply to all taxing authorities. The taxable values are applied to the millages set by the taxing authorities to determine property taxes. In August each year, property owners receive a Notice of Proposed Property Taxes, also called the Truth in Millage (TRIM) Notice, outlining the values associated with the property, exemptions on the property as well as proposed millages and taxes. The notice also includes information on public hearings held by the taxing authorities. Property owners may contact the Property Appraiser s Office for an informal review of their values and have 25 days from the mailing of the notices to file a formal petition with the Value Adjustment Board (VAB). The VAB holds hearings with a neutral Special Magistrate to review values. The Tax Collector mails tax bills to property owners on October 31. Operating Taxable Value of Duval County Property* (Includes Real, Tangible and Centrally Assessed Property) Billions *Represents the City of Jacksonville Operating Taxable Value. There are different taxable values for different taxing authorities. The value includes real estate, tangible personal property (business assets) and centrally assessed property (railroads). Source: Certified Tax Rolls ROLL YEAR TAXABLE VALUE PERCENT INCREASE 2011 $50,390,226, ,287,100, ,382,480, ,069,329, ,177,744, ,461,413, ,623,990, ,436,667, ,439,102, ,872,464,499

6 THE VALUE OF PROPERTY/ Millage Rates Total Millage (Jacksonville General Services District) Final Millage Source: Certified Tax Rolls *The chart above represents the General Services District. Local millages vary slightly by districts within Duval County. See chart at bottom right for all local millage rates. Taxing Authorities In Duval County, each taxing authority adopts a tax rate (called millage ) which is multiplied by the taxable value of taxable property to generate funds for local services. The taxing authorities are: 2011 Millages by Taxing Authority (General Services District) MILLAGE TAXING AUTHORITY Duval County/City of Jacksonville Duval County School Board Florida Inland Navigation District St. Johns River Water Management District The City of Jacksonville The Duval County School Board The Cities of Jacksonville Beach, Neptune Beach, Atlantic Beach and the Town of Baldwin The St. Johns River Water Management District The Florida Inland Navigation District One mill equals $1 per $1,000 (.001). Duval County Taxing Authorities charged approximately $17.95* per thousand dollars of taxable value in (see chart below) *refers to millage for General Services District Total Millage Source: Duval County Taxing Authorities 2011 Millages by District DISTRICT General Services District Old Core City of Jacksonville Jacksonville Beach Atlantic Beach Neptune Beach Town of Baldwin Source: Duval County Taxing Authorities MILLAGE mills mills mills mills mills mills 4

7 THE VALUE OF PROPERTY/ Taxes: Where Your Money Goes Projected Property Tax Levies for 2011 City of Jacksonville, General Government (excluding Beaches & Baldwin) $461,232, Duval County Public Schools 414,393, City of Jacksonville (General Government - Beaches) 29,820, City of Jacksonville (General Government - Baldwin) 365, City of Jacksonville Beach 10,358, City of Atlantic Beach 4,133, City of Neptune Beach 2,172, Town of Baldwin 129, St. Johns River Water Management District 16,781, Florida Inland Navigation District 1,747, Total Gross Taxes $941,135, Source: 2011 Certified Tax Roll The City of Jacksonville and Duval County Public Schools are the largest recipients of property tax dollars. BUDGETED REVENUE Duval County Public Schools FY 2011/2012, General Fund City of Jacksonville FY 2011/2012, General Fund State Sources 47.1% Local Property Taxes* 47.5% Federal Sources 0.1% Other Local Sources 1.9% Misc. Revenue 2.3% Other 17.2% Local Property Taxes* 32.4% Fund Balances 15.4% Other Taxes 13.2% Transfers & Other 3.1% Licenses & Permits 0.7% Fines & Forfeitures 0.3% Charges for Services 6.5% Intergovernmental Revenue 12.3% FY 2011/2012 Duval County Schools General Fund Budget $994,861,160 Source: Duval County Public Schools, Budget Services *Ad valorem taxes are also allocated to other school district funds. FY 2011/12 City of Jacksonville General Fund Budget $957,927,122 Source: City of Jacksonville Budget Division *Ad valorem taxes are also collected and allocated to tax increment districts. 5

8 REAL ESTATE There were 350,119 real estate parcels on the 2011 Duval County Tax Roll. Florida law (Florida Statutes, Ch ) requires all property to be physically inspected once every five years. Teams of employees in the Field Operations Division canvass neighborhoods throughout the county and inspect property. Field appraisers also respond to customer requests and permits which are under way or completed. The PAO s field inspections help ensure that the property database is accurate and up-to-date. Maps and records on every parcel in the county are maintained by the Land Records Division. Land Records staff members update property maps and ownership information by monitoring recorded documents such as deeds which indicate changes in ownership. In addition, cadastralists in the Land Records Division adjust maps as property compositions change due to joining and splitting of parcels. Real Estate Total Market and Taxable Values ROLL YEAR MARKET VALUE TAXABLE VALUE Billions Total Market Value Total Taxable Value Source: Certified Tax Rolls $69,701,644,708 $45,640,022, ,111,884,819 49,333,657, ,960,136,759 53,164,245, ,363,797,070 55,888,445, ,997,280,652 55,769,128, ,096,836,631 47,111,707, ,428,124,115 40,684,503, ,188,556,283 35,538,696, ,561,408,229 32,326,925, ,869,820,831 29,516,278,383 6

9 REAL ESTATE Real Estate Taxable Value Categories by Percentage Residential 60.86% Commercial 37.64% Governmental 0.06% Institutional 0.88% Agricultural 0.33% Other 0.23% The taxable value of Duval County real estate dropped nearly $10 billion in the past 3 years. Source: 2011 Certified Tax Roll Real Estate Parcel Count Net New Construction * Market and Taxable Values ROLL YEAR PARCEL COUNT PERCENT INCREASE , % , % , % , % , % , % , % , % , % ,524 Total Market Value Total Taxable Value Billions Source: Certified Tax Rolls The number of new parcels added to the tax roll slowed significantly in recent years. Only 459 parcels were added to the roll in 2011 compared to 15,478 in Source: Certified Tax Rolls *Net new construction is comprised of all new building construction, additions, and deletions in each respected tax roll year. New Parcels by Planning District* PLANNING DISTRICT NEW PARCELS 1 - Urban Core Greater Arlington/Beaches Southeast Southwest Northwest North Atlantic Beach Neptune Beach Jacksonville Beach Baldwin Source: 2011 Certified Tax Roll * Added to 2011 Tax Roll; does not include deletions when parcels were reconfigured

10 REAL ESTATE Duval County Real Estate Transactions* ROLL YEAR TRANSACTIONS PROCESSED PERCENT INCREASE , % , % , % , % Transactions Processed 37,247 38,342 35,250 36,122 39,354 42,852 44,286 44,080 50,082 54, Source: Certified Tax Roll *Includes sales and changes in ownership 58,641 61,700 66,695 73,289 73,699 51,022 35,936 35,272 36, , % , % , % , % , % , % , % , % , % , % , % , % , % , % ,247 The recent rise in real estate transactions is largely due to the significant increases in foreclosures and short sales, not in traditional home sales. Comparison of Large Florida Counties Real Estate Transactions* Tax Rolls 150,000 Duval County Hillsborough County Miami/Dade County Orange County 120,000 Pinellas County 90,000 60,000 30, Sources: Property Appraiser s Offices of Orange, Hillsborough, Pinellas, Miami-Dade and Duval Counties *IIncludes sales and all transfers of ownership including foreclosures and short sales. Reflects number of deed transactions, not changes per parcel. A single transaction may include multiple parcels. 8

11 REAL ESTATE Parcels by City Council Districts DISTRICT PARCEL COUNT SINGLE FAMILY HOMES HOMESTEADS* SENIOR HOMESTEADS** INDUSTRIAL W/ STRUCTURES COMMERCIAL W/ STRUCTURES GREENBELT*** 1 20,442 17,310 14, ,646 18,674 14, ,332 16,714 14, ,772 15,700 13, , ,099 14,380 13, , ,232 24,125 20, ,840 13,589 8, , ,322 19,223 12, ,087 17,385 9, , ,456 17,166 12,028 1, ,541 18,597 16, ,116 20,665 17, ,260 18,241 17, , ,974 19,140 15, TOTALS: 350, , ,658 8,994 3,950 13,071 1,718 Source: PAO Database *homes with a Homestead Exemption **homes with an income-based Sr. Additional Homestead Exemption ***number of parcels with an agricultural classification City Council Districts District 11 District 8 District 10 District 9 District 7 District 1 District 2 District 12 District 4 District 3 District 14 District 5 District 13 District 6 9

12 REAL ESTATE / Exemptions & Save Our Homes EXEMPTIONS A number of state exemptions administered by the Customer Service/Exemptions Division of the Property Appraiser s Office can lower a property s value on which a property owner pays taxes. Homestead Exemption The most common exemption is the homestead exemption. Florida residents who own and live in their homes, condominiums, co-op apartments and certain mobile homes may be eligible for a homestead exemption. This exemption was increased in 2008 and now can provide up to $50,000 off the assessed value of a property. The original $25,000 exemption applies to all taxing authorities, while the additional $25,000 exemption applies to all authorities except the school board. The additional exemption comes off the assessed value above $50,000. Other Exemptions Other exemptions and tax discounts can provide further benefits for persons with disabilities, widow/widowers, seniors with a limited income, property owners who renovate space for elderly relatives and others. There is also a historic exemption for those who renovate a historic structure or contributing structure in a historic neighborhood. Save Our Homes The homestead exemption not only lowers the property s taxable value, but also triggers the Save our Homes (SOH) cap on future assessments. Once a homestead exemption is established, the assessed value cannot increase more than 3% annually provided the property or ownership does not change and the homestead is not removed. If the property owner has lived in the home a while (particularly during a rising market), the home s assessed value may be lower than the market value due to this cap. Portability Homesteaded property owners in Florida may now transfer the Save Our Homes benefit from one home to a new homestead. The differential (difference between the market and assessed values on the old homestead) is subtracted from the property appraiser s market value on the new home to create a new assessed value on which the property s taxes are based. If the market value of the new home is lower than that of the previous home, the reduction is calculated and transferred as a percentage. In 2011, the Property Appraiser s Office processed liens totaling $1,209,800 on properties where taxpayers claimed but were not eligible for a homestead or other exemption. By the end of March 2012, $564,208 had already been returned to city coffers. Homestead Exemptions Senior Additional Homestead Exemptions* ROLL YEAR HOMESTEAD COUNT* PERCENT OF INCREASE ROLL YEAR SR HOMESTEAD COUNT PERCENT OF INCREASE , , , , , , , , , ,935 Source: Certified Tax Rolls *Not all single family dwellings are eligible for a homestead exemption. Only primary residences are eligible , , , , , , , , , ,579 Source: Certified Tax Rolls * based on income requirements

13 REAL ESTATE / Exemptions & Save Our Homes As market values on homesteaded property declined in recent years, the value deferred from taxation between market values and capped assessed values narrowed or was completely lost in many cases. The overall deferred value on homesteaded property in Duval County dropped almost $10 billion in the past 4 years. (See chart at bottom right.) The Recapture Rule While Save Our Homes limits the annual increase in assessed value, the law does not allow the assessed value to decrease until the market value falls to meet it. This is called recapture since the difference between the market and assessed values was legally deferred during the rising market, but still exists. The assessed value under SOH is linked to inflation, not to market value. The annual increase is based on the change in the National Consumer Price Index (CPI). The increase in assessed value in any year cannot exceed 3%, even if the inflation rate is higher (see chart below left). The rate may also be negative. In 2011, the increase in the assessed value of homesteaded properties was 1.5%. Save Our Homes * Cap Rate History ROLL YEAR SAVE OUR HOMES CAP Annual Deferred Value on Homesteaded Property* % % % % % % % % % % % % % % % % % Source: Florida Department of Revenue *As provided in section (1), Florida Statutes, beginning in 1995, or the year after the property receives homestead exemption, annual reassessment shall not exceed the lower of the following: (a) Three percent of the assessed value of the property for the prior year: or (b) The percentage change in the Consumer Price Index (CPI) for all urban consumers, U.S. city average, all items 1967 = 100 for the preceding calendar year as initially reported by the U.S. Department of Labor Statistics. 11 Deferred Value in Billions Source: Certified Tax Rolls *The total amount of market value on homesteaded properties deferred from being taxed as a result of the Save Our Homes cap on homesteaded property and Portability. (Difference between market and assessed values.)

14 REAL ESTATE / Residential Property RESIDENTIAL PROPERTY Residential property includes single family homes, mobile homes, condominiums and multi-family properties up to nine units. Appraisers in the Residential Appraisal Division determine a fair market value for properties utilizing market trends as well as property features and conditions. Duval County s residential property values declined again in The median market value of a single family home on the 2011 Tax Roll was $115,423. The median taxable value was $69,619. The median market value of a single family home on the 2011 Tax Roll was $115,423. Residential Real Estate Parcel Count Residential Real Estate Market and Taxable Values Parcels 255, , , , , , , , , ,102 Billions Total Market Value Total Taxable Value Source: Certified Tax Rolls Source: Certified Tax Rolls 12

15 REAL ESTATE / Residential Property New Single Family Homes * *Homes completed in the year indicated and added to the Tax Roll the following year Parcel Count 1,711 1,604 4,016 3,900 3,815 4,929 5,326 6,020 4,551 3,067 7,032 7, Source: PAO Real Estate Data Base *Homes completed in the year indicated and added to the Tax Roll the following year In 2010, U.S. Census records indicate that 42% of households in Jacksonville paid 30% or more of their income for housing. This Housing Burden indicator below measures the total cost of housing (rent or mortgage, plus utilities) as a percentage of the total household income. Housing Burden Households Paying over 30 Percent of Household Income for Housing Homeowners Renters 56 Total Percent Source: U.S. Census, American Community Survey; JCCI 2011 Quality of Life Report

16 REAL ESTATE / Commercial Property Commercial Property COMMERCIAL PROPERTY The Commercial Appraisal Division is responsible for appraising all commercial property in Duval County. This includes all property used and owned by businesses including industrial structures and land, retail and office properties as well as multi-family properties with 10 or more units. Appraisers in the Commercial Appraisal Division determine value using three standard appraisal methods the market, cost and income approaches. Appraisers analyze market data and develop market parameters which are applied equitably to commercial properties throughout the county. Commercial Real Estate Parcel Count Commercial Real Estate Market and Taxable Values 22,949 23,478 23,542 23,967 24,584 25,127 22,015 21,734 21,632 21,421 Total Market Value Total Taxable Value Parcels Billions Source: Certified Tax Rolls Source: Certified Tax Rolls 14

17 REAL ESTATE / Commercial Property About 6% of real estate in Duval County is commercial; however it accounts for more than 37% of the total taxable value on real property. Largest Grouped* Real Estate Assessments in Duval County Top 25 on 2011 Tax Roll COMPANY NAME REAL ESTATE TAXABLE VALUE 1 FDG Properties/Flagler Development Lands Co. $249,334,233 2 Wal-Mart Properties/Stores 201,352,071 3 Stone Mountain Industrial Inc. 200,533,920 4 Beemer & Associates 171,050,154 5 Mid America Apartment Communities 169,969,904 6 Blue Cross & Blue Shield 167,443,809 7 St Johns Town Center LLC 164,307,403 8 Liberty Property Limited Partnership 139,185,498 9 Jacksonville Avenues Ltd. The Avenues) 115,217, First States Investors 106,590, Memorial Healthcare Group Inc. 103,851, Gate Petroleum/Gate Land Co. 97,590, Equity One Inc 93,269, Winn Dixie Stores/ZSF WD Jacksonville 91,110, Target Corporation/Dayton Hudson Corp. 86,730, Anheuser Busch/Metal Container Corp. 80,403, Bank of America 78,233, Publix Super Markets, Inc. 52,063, Vistakon/Johnson & Johnson Vision 41,485, AT&T/Bellsouth Communications 38,279, Fidelity Natl Title Group /LPS Mortgage Processing 33,232, Cedar Bay Generating Co. 21,017, CSX Transportation Inc. 17,556, Florida Power & Light Co. 17,540, Comcast Cable 6,023,457 Source: 2011 Certified Tax Roll *Includes multiple properties grouped together by property owner. 15

18 TANGIBLE PERSONAL PROPERTY Tangible personal property includes everything from computers and office furniture to highly specialized industrial equipment. Florida law requires all businesses in the state to report and pay taxes on business assets, also called tangible personal property. Tangible personal property is all property, other than real estate, that is used for income-producing purposes. This includes furniture, office supplies, tools, machinery, leased equipment and anything used in the operation of the business. Furniture and appliances in rental properties must also be reported. The Tangible Personal Property Division of the Property Appraiser s Office is responsible for assessing tangible property. The division mails annual returns to businesses and determines value based on costs of assets and state guidelines which utilize depreciation factors. Florida voters passed a law in 2008 providing for a $25,000 exemption off tangible property. In other words, businesses do not pay taxes on $25,000 in value if they file timely. Businesses with less than $25,000 in value must file an initial return and are not required to file again until the value exceeds $25,000. There were 19,846 accounts in 2011 with values equal or less than $25,000. Those accounts were, therefore, exempt from property taxes. This is nearly two-thirds of the 31,117 TPP accounts in the county. Nearly two-thirds of tangible personal property accounts on file in Duval County had property values equal to or less than $25,000 in 2011; and therefore, were completely exempt from tangible personal property taxes. 16

19 TANGIBLE PERSONAL PROPERTY Tangible Personal Property Accounts Tangible Personal Property (TPP) Market and Taxable Values* No. of Accounts 26,740 27,546 28,154 29,644 31,205 31,271 31,900 31,830 31,696 31,117 Total Market Value Total Taxable Value Billions Source: Certified Tax Rolls The significant increase in market value of tangible property in 2008 was largely due to the reassessment of two large exempt accounts. Source: Certified Tax Rolls *The value difference between market and taxable values in a given year is due to exemptions. Largest Grouped* TPP Assessments Top 25 on 2011 Tax Roll COMPANY NAME TPP 1 AT&T/Bellsouth Communications $283,388,173 2 Anheuser Busch/Metal Container Corp. 183,818,255 3 Comcast Cable 159,160,306 4 Vistakon/Johnson & Johnson Vision 135,149,503 5 Cedar Bay Generating Co. 130,521,228 6 Florida Power & Light Co. 106,721,713 7 CSX Transportation Inc. 94,759,549 8 Swisher International Inc. 70,780,976 9 Gerdau Ameristeel Us Inc. 68,143, Fidelity Natl Title Group /LPS Mortgage Processing 64,048, Publix Super Markets, Inc. 50,466, Winn Dixie Stores/ZSF WD Jacksonville 47,690, Tampa Electric Co./Peoples Gas System 46,134, Memorial Healthcare Group Inc. 42,762, Anchor Glass Container/Acquisition Corp. 41,919, Bank of America 41,911, Jacksonville Solar LLC 39,028, Verizon Wireless 36,424, Wal-Mart Properties/Stores 32,068, Sprintcom Inc./Nextel South 32,041, LPS Mortgage Processing Solutions 31,839, Kraft Foods /Maxwell House 30,171, T-Mobile South LLC 29,354, Florida East Coast Railway 29,079, Coca Cola Company 27,741,308 Source: 2011 Certified Tax Roll *Includes multiple properties grouped together by property owner. 17

20 APPENDIX Largest Combined* Value Assessments in Duval County Top 25 on 2011 Tax Roll COMPANY NAME REAL ESTATE TPP TOTAL 1 AT&T/Bellsouth Communications 38,279, ,388, ,667,203 2 Anheuser Busch/Metal Container Corp. 80,403, ,818, ,221,414 3 FDG Properties/Flagler Development Lands Co. 249,334, , ,085,049 4 Wal-Mart Properties/Stores 201,352,071 32,068, ,420,929 5 Stone Mountain Industrial Inc. 200,533,920 34, ,568,703 6 Blue Cross & Blue Shield 167,443,809 23,972, ,416,712 7 Vistakon/Johnson & Johnson Vision 41,485, ,149, ,635,207 8 Mid America Apartment Communities 169,969,904 3,595, ,565,361 9 Beemer & Associates 171,050, , ,459, Comcast Cable 6,023, ,160, ,183, St Johns Town Center LLC 164,307, , ,516, Cedar Bay Generating Co. 21,017, ,521, ,538, Memorial Healthcare Group Inc. 103,851,209 42,762, ,613, Liberty Property Limited Partnership 139,185,498 73, ,258, Winn Dixie Stores/ZSF WD Jacksonville 91,110,337 47,690, ,801, Florida Power & Light Co. 17,540, ,721, ,262, Bank of America 78,233,880 41,911, ,145, Jacksonville Avenues Ltd The Avenues) 115,217, , ,143, Gate Petroleum/Gate Land Co. 97,590,835 16,484, ,075, CSX Transportation Inc. 17,556,967 94,759, ,316, First States Investors 106,590, , ,704, Publix Super Markets, Inc. 52,063,669 50,466, ,530, Target Corporation/Dayton Hudson Corp. 86,730,786 11,373,593 98,104, Fidelity Natl Title Group /LPS Mortgage Processing 33,232,485 64,048,596 97,281, Equity One Inc. 93,269,507 11,741 93,281,248 Source: 2011 Certified Tax Roll *Includes multiple properties grouped together by property owner. Total number includes the taxable values for real estate and tangible personal property. 18

21 APPENDIX Duval County Real Estate 2011 Parcel Counts and Values CATEGORY TYPE PARCEL COUNT MARKET VALUE TAXABLE VALUE PERCENT TO TOTAL TAXABLE Single Family Homes 250,909 35,889,490,643 23,778,802, % Improved Commercial 12,515 10,186,473,347 9,752,856, % Improved Industrial 3,950 3,613,709,655 3,572,385, % Multi-Family 10 Units or More 578 3,043,940,512 2,934,607, % Condominiums 25,648 2,497,392,483 1,996,616, % Vacant Residential 21, ,268, ,965, % Multi-Family Less than 10 Units 5, ,387, ,472, % Vacant Commercial 3, ,318, ,544, % Mobile Homes 9, ,515, ,484, % Institutional 2,958 2,729,957, ,846, % Vacant Industrial 1, ,056, ,054, % Retirement Homes & Misc. Residential ,245, ,493, % Agricultural 1,718 2,291,140, ,646, % Miscellaneous 3, ,644,884 96,085, % Non-Agricultural Acreage 1,010 44,506,368 43,567, % Leasehold Interest ,412,235 9,099, % Government 6,175 5,626,128,628 27,267, % Cooperatives 121 3,055, , % TOTALS: 350,119 69,701,644,708 45,640,022, % Source: 2011 Certified Tax Roll 19

22 MORE INFORMATION The Property Appraiser s Office is located in the Yates Building, 231 East Forsyth Street, on the second and third floors. The office is open from 7 a.m. to 6 p.m., Mon. Fri. Information is also available online at www. duvalpa.com or by calling the numbers to the right. Customer Service/Exemptions Division Residential Appraisal Division Commercial Appraisal Division Land Records Division Tangible Personal Property Division Greenbelt Classifications Field Operations Division General Information Administration IMPORTANT DATES January 1 The date which determines property ownership, value, classification, and any exemptions (including homestead exemptions). Tangible Personal Property returns mailed to taxpayers. January 1 March 1 Applications accepted for portability and exemptions including: homestead senior citizen widows/widowers disability charitable organizations granny flats Applications accepted for greenbelt classifications. April 1 Filing deadline for Tangible Personal Property returns. Visit our Web Site at The Duval County Property Appraiser s Web site, is the most visited site of all local government departments and agencies. The property search function was expanded to provide users with more information and more ways to search for properties. The site includes: New Online Homestead Exemption Application A property search featuring detailed information and maps Advanced search capabilities with downloadable data A Tax Estimator Timelines and information on services August Notice of Proposed Property Taxes, also called Truth in Millage (TRIM) notices, are mailed to property owners mid-month. The notice outlines how taxes are broken down, the locations and times of budget hearings and the deadline for filing petitions with the Value Adjustment Board. September Budgets of taxing authorities approved. Deadline for Value Adjustment Board petitions. October Value Adjustment Board (VAB) hearings begin. Tax Collector mails tax bills for current year on October 31. Map options detailing sales in your neighborhood 20

23 Jim Overton Duval County Property Appraiser Office of the Property Appraiser 231 E. Forsyth Street, Suite 270 Jacksonville, FL duvalpa.com 21