Palm Beach County Property Appraiser
Property tax exemptions are administered by the Palm Beach County Property Appraiser’s Office. These exemptions lower the assessed value of a property and reduce the property tax. Whether you need help with Homestead exemptions, short sales, or commercial property appraisals, the Property Appraiser’s Office can help.
Assessments
The Palm Beach County Property Appraiser’s Office is responsible for administering property tax exemptions. These exemptions reduce the assessed value of a property and lower the property tax. The Palm Beach County Property Appraiser’s Office has a variety of tax exemption programs.
One of these programs limits assessed value increases to 3 percent or the rate of inflation for homes that qualify for homestead exemption. If you own property in Palm Beach County and would like to appeal the assessment, you will need to file a value petition. You must do so within 25 days of receiving the notice.
Property appraisers in Palm Beach County are required by law to mail notices to all property owners in the county. These notices contain the proposed tax amounts, as well as the dates of budget hearings. These hearings are a good opportunity to express concerns and ask questions about the proposed tax rates.
Homestead exemption
As a homeowner, you may be able to claim a homestead exemption on your property taxes. Unfortunately, the homestead exemption doesn’t automatically transfer from one property to another. This means that if you want to move to a new home, you must file an application for a new exemption, and notify the Property Appraiser of your previous residence. Additionally, the homestead exemption that a seller claims will not carry over beyond the year of sale, so you must apply for your own exemptions every time you move.
To qualify for a homestead exemption, you must apply for it before March 1. Once you qualify, your tax bill will reflect the homestead exemption. However, if you want to claim a multi-year exemption, you must provide a statement of gross income. In addition, you must provide a proof of residency to support your claim. If you don’t, your property appraiser may ask for additional documents.
You can download a Homestead application from the county’s website or go in person to fill out the application. Bring all the required documents with you to the appointment. If you’re married, you’ll need a valid Florida ID card. Your spouse must also provide his or her Social Security number, even if they don’t own the property.
Short sales
If you have fallen behind on your mortgage and need to sell your home quickly, a short sale may be a viable option for you. This type of sale occurs when the lender agrees to accept less than the total amount owed on a property. This can be a great way to purchase a house at a bargain price, but it can also be a lengthy process.
Before deciding whether to purchase a short sale, it is important to understand the tax implications. If a home goes into foreclosure, the value of the home could drop by two percent. When deciding whether to pursue a short sale, you will want to consult a professional who has experience in assessing distressed properties.
In order to avoid a property tax lien, you should always make a payment on time. If you do not pay on time, you will incur additional fees and interest.
Commercial property appraisals
Palm Beach County, Florida, is home to 2 million acres, including approximately 1,000 acres of commercial property. The county’s commercial land values are about $53 million, and the median price is $3 million. The county’s undeveloped land is home to wildlife, including whitetail deer, turkey, quail, pig, and duck.
Commercial property appraisals typically evaluate properties for their income potential. They can include retail space, restaurants, shopping malls, auto dealerships, gas stations, hotels, golf courses, and industrial properties. Depending on the type of property, appraisers use one or more of three valuation approaches to determine the property’s market value. The income approach considers the income potential of a property; the sales comparison approach looks at comparable properties; and the cost approach identifies the estimated replacement cost of the property.
Property owners can schedule an appointment for an appraisal the same day or next day. After the appraisal is completed, the property owner can expect a report by email the next business day. The report will contain photos of the subject property to help determine the overall condition of the property. It will also include any upgrades made to the property. The appraiser will compare the subject property to a minimum of three recent sales. Each comparable sale will include exterior photos, and the appraised value is included in the report.
