We're available Monday thru Friday
8am - 5pm
Real Property Appraisal
Appraisal Manager: Lisa Faulkner
FREQUENTLY ASKED QUESTIONS
How do I estimate what my taxes will be?
To estimate the amount of property tax due, you must first know the assessed (taxable) valuation of the property, the county tax rate, and the tax rate of any other jurisdictions in which the property is located. Add all applicable tax rates together to obtain the total combined tax rate. All tax rates are per $100 of assessed value.
Use the following formula: Assessed Value/100 X Total Combined Tax Rate = Estimated Taxes
Example: A taxpayer owns property with an assessed value of $125,000. The tax rate for Lee County is .795. The property is also located in Northview Fire District with a Fire Rate of .087. The total combined tax rate for this property is .882 (.795 + .087). This means the property will be taxed at .882 per $100 of assessed value. The estimated tax is as follows:
$125,000/100 x .882 = $1,102.5
In some cases, there may be additionl fees such as solid waste fee, late listing fee, etc.
Does the tax department adjust property values based on the current market conditions?
No. Tax value is based on current market values as of January 1st of the revaluation year. Property values are not adjusted up or down based on market conditions that occur between revaluation years.
What type of appraisal process is used by the Tax Department?
"Mass Appraisal" method is used, which is the process of valuing a group of properties as of a given date, using standard methods, employing common data, and allowing for statistical testing. In determining value, all three approaches to value( cost, market, and income ) are considered.
What prompts a visit from a Tax Department appraiser?
Obtaining a construction or demolition permit or recording mapping changes will result in a visit from an appraiser in most cases. At the time of the visit, the appraiser will review the entire property data to ensure accuracy. A sale of the property may also prompt a visit. The owner may also request a visit at anytime if he or she believes the tax information is incorrect.
Need help? Contact us at 919-718-4660.