2010 Flagler County Estimated Property Tax Roll Down Over 19% Countywide from 2009
You can check the Flagler County Property Appraiser’s website to see changes to your individual assessment.
Palm Coast, FL – June 3, 2010 – Just as it seems like real estate selling prices are stabilizing, Flagler County’s Property Appraiser Jay Gardner issues the estimated 2010 property tax roll which is down about 19% countywide. Actually, the drop was expected. 2010 assessments are based on sales that happened in 2009.
Percentage decreases varied depending on which taxing authority district properties are located. The following chart shows the breakdown by taxing authority.
|
Taxing Authority |
2009 Final Taxable Value ($,000) |
2010 June 1 Estimated Taxable Value ($,000) |
Estimated Change ($,000) |
Estimated % Change |
|
Marineland |
18,723 |
11,300 |
-7,423 |
-39.65% |
|
Beverly Beach |
83,802 |
62,000 |
-21,802 |
-26.02% |
|
Bunnell |
233,927 |
172,000 |
-61,927
|
-26.47% |
|
Flagler Beach |
712,110 |
551,000 |
-161,100 |
-22.62% |
|
Palm Coast |
5,246,998 |
4,375,000 |
-871,998 |
-16.62% |
|
Mosquito Control |
8,851,372 |
7,150,000 |
-1,701,372 |
-19.22% |
|
Flagler County |
9,336,099 |
7,510,000 |
-1,826,099 |
-19,56% |
|
School Board |
10,107,909 |
8,300,000 |
-1,807,909 |
-17.89% |
|
St. John Water Mgt |
9,446,849 |
7,630,000 |
-1,816,849 |
-19.23% |
|
Inland Navigation |
9,446,849 |
7,630,000 |
-1,816,849 |
-19,23% |
The numbers above include the additional value of 2009 new construction located as follows:
-
County – $88,469,266
-
Palm Coast – $62,037,631
-
Flagler Beach – $4,982,040
-
Bunnell – $1,164,355
-
Beverly Beach – $96,588
-
Marineland – $0
Just because your assessment went down, it doesn’t mean your taxes will drop as well. The Property Appraiser’s job is to make sure that each property is assessed fairly relative to other properties. In other words, your assessment should be in line with that of comparable homes in your neighborhood. Assuming that the 2009 assessments were fair, the assessments of comparable homes should have decreased by approximately the same amount for 2010.
Taxes are the realm of our elected and appointed officials. For instance, once the City of Palm Coast Board of Commissioners determines the annual budget it is divided by the total taxable value of property located within the city taxing district. The result is Palm Coast’s millage rate, which determines your city taxes. The same process is used to determine your county, school and other (St Johns River Water Management District, mosquito control) millage rates.
Officials have cut their budget two years in a row. The alternative to an unlikely 19% budget cut for Palm Coast is to raise the millage rate. Would this mean your taxes will be higher? Not necessarily. If your new taxable assessment goes down more in relative terms than the millage rate increase, you will pay fewer taxes. Remember, it’s the taxable assessment that counts. For some, the reduction in the true (market) value assessment will still leave them above their "save our homes" taxable assessment. These folks will not be protected from any millage increase. They may also find that their taxable assessment increases slightly through a process called recoupment.
You can check the Flagler County Property Appraiser’s website (search records option) to see changes to your individual assessment.
Taxes
The value of my home has gone down about $75,000. My assessment value is very low. Does this mean my taxes will be adjusted to the vaule of my home?
It does’nt seem fair that I am still paying what I started paying five years ago. I believe it should be adjusted to the vaule of your home. What do you think?
Thanks
LC
Taxes
Toby:
Thank you for the quick response. Your explanation was easy to follow.
There has been several homes in my area that have sold as short sales and quick deed and this is the reason my home has gone down in value.
When do you think I will see a change in my taxes? Should I inquire about it or wait and see what happens?
Thank you again!!
Reply to LC
Your assessed value in 2009 was $162,758. With your $50,000 homesteaded exemption, you paid taxes on $112,758. The estimated 2010 assessment is $138,225. Again, subtracting your $50,000 homestead exemption, you will pay taxes on $88,225. This is 21.76% lower than last year’s taxable value. I predict the millage rate will be raised this year, but not by as much as 21% so your 2010 tax bill should be lower.
Taxes are based on value, but what you pay depends on your value relative to the value of all other property. Let’s say that the budgets for ALL taxing jurisdictions stayed the same and the value of ALL property decreased by the same percentage (ignoring the effects of homesteading). Each taxing district would have to increase their millage rates to adjust for the decreased taxable value. The result would be that everyone would pay the same tax amount as the previous year.